A Choices plan member story
The following is based on an actual customer’s experience
- Name: David
- Situation: He hasn’t taken the time to review his investments since he enrolled in the Group Choices savings plan
- Investment knowledge: Above average
David, a Sun Life Financial Group Choices member, is like a lot of Canadians. He doesn’t spend much time reviewing his investment portfolio. However, one of the benefits of being a Group Choices member is the ongoing support and guidance available at no cost. Tracy, a licensed Financial Services Consultant1 at Sun Life Financial, called David to review his investments so David could get the most out of his portfolio.
David had benefited from this guidance in the past, but he considered putting off the conversation since he had very little time and was unsure of what he should be doing with his investments. This time he listened and it didn’t take long before he was really happy he took the call.
Tracy explained to David the importance of a regular review of his investments, especially since so much can change from year to year. Tracy walked David through an investment risk questionnaire to determine whether the funds within David’s portfolio matched his specific needs, which can change over time.
David clearly saw that there were changes that needed to be made, especially when Tracy explained that there was no cost and that his fees would in fact be lower due to the increased balance in his account that month. David didn’t realize that the Group Choices plan offers lower management fees, on average, than the top five banks2.
Tracy calculated that David could save $3,000 in fees in just one year if he transferred his other savings into his Group Choices plan.
While David hadn’t taken much time to consider his investments previously, he was very grateful that Tracy did take the time to call him. David was much more confident about his investments and reaching his financial goals.
"This call was very, very helpful. Thanks so much for calling me.”
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