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Manulife Bank introduces ‘in-home’ service for mortgage shoppers Banking consultants specialize in unique mortgage account Waterloo -- Manulife Bank of Canada has introduced a new ‘in-home’ service to help Canadian homeowners sort through various options around mortgage financing. After a one-year pilot project, Manulife Bank has rolled out a national network of “Banking Consultants” in major cities across Canada. The Manulife Bank employees are mortgage experts who specialize in offering mortgage advice, working with financial advisors to help their clients apply for Manulife Bank mortgages, directly from the customer’s home. “We offer Manulife One*, one of the most innovative mortgage products in Canada,” says Roman Fedchyshyn, President and CEO of Manulife Bank. “It’s the first ‘flexible mortgage account’ in the country and it’s unique because it combines a customer’s chequing account with their mortgage -- so every time they get paid, they reduce the balance of their mortgage and pay less interest.” Mr. Fedchyshyn explained that while the concept is fairly straight forward, it does take some expertise to convey the simplicity of the account to potential clients. “And that's the key role of our Banking Consultants.” Virtual but accessible While Manulife Bank is a “virtual” bank, providing almost all of its services through Internet, telephone and ABM banking, Mr. Fedchyshyn noted that it differs from other virtual banks by offering access to well-qualified distribution networks. “With more than 12,000 independent financial advisors, and now a team of banking experts, more Canadians will have access to this truly unique product from the convenience of their own homes.” The Banking Consultant network, currently at 25 people, is expected to grow to around 40 or 50 during the next several months, says David Barker, Assistant Vice President, Sales and Business Development with Manulife Bank of Canada. “These consultants bring strong skills in managing relationships to Manulife Bank, in addition to their experience and expertise in financing mortgages,” Mr. Barker observed. “Our clients have been overwhelmed with the accessibility and knowledge of our consultants during our pilot program. Consumers can now benefit from a personal consultant who can help explain how a mortgage works. And then, of course, once they see what Manulife One can do for them, that obviously reflects well on the consultant.” The complete list of Banking Consultants can be found at the Manulife Bank Web site at www.manulifebank.ca, by clicking on “Find an advisor”. About Manulife Financial Manulife Financial is a leading Canadian-based financial services group operating in 15 countries and territories worldwide. Through its extensive network of employees, agents and distribution partners, Manulife Financial offers clients a diverse range of financial protection products and wealth management services. Funds under management by Manulife Financial were Cdn$141.6 billion as at March 31, 2003. Manulife Financial established Manulife Bank in 1993 as the first federally regulated bank to be opened by a life insurance company following Canada’s financial reform legislation of 1992. Manulife Bank provides innovative deposit and loan products to help individuals make the most of their financial plan. Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘0945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com. -30 - *For details, please visit www.manulifeone.com. For more information or to arrange media interviews contact: Tom Nunn Director of Media Relations Manulife Financial 519-594-8578 tom_nunn@manulife.com |
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