RcF announces the termination of its Wholesale Division effective January 1, 2010
1:27pm - 12/Nov/2009
Toronto, November 12, 2009 - Retirement Compensation Funding Inc (RcF) announces the termination of its Wholesale Division effective January 1, 2010. RcF will continue providing RCA / SERP services to Private and Public Corporations through RcFDirect and RcF Authorized Distributors.
This change will affect agreements with its existing corporate partners/financial institutions, as well as its Independent Financial Advisors that have agreements with RcF. Advisors or Financial Institutions still interested in RcF for RCA services will be considered on a case by case basis under a new compensation arrangement. This change in compensation arrangement will eliminate RCA setup fees to clients making RcF's RCA package very attractive and cost effective for Plan Sponsor and Plan Members.
The change will allow RcF to focus on its core strength and return to its origins as a retail/direct RCA provider, but still giving Financial Advisors an opportunity who still want to work with RcF for their clients
All Inforce Support questions and procedures for existing Financial Advisors can be found at the new Plan Advisor Support site which will launch at the end of November. RcF will be able to address any other questions which might not be made available. However, this new site will be able to address most commonly ask questions to ensure proper client servicing of existing RCA Plan Members.
RcF developed the first funding product for RCAs in the late 1980s. From coast to coast, RcF is known for its expertise in the design and funding of supplemental pension plans utilizing the Retirement Compensation Arrangement (RCA) provision of the Income Tax Act to its customized Supplemental Executive/Employee Retirement Plans (SERPs).
RcF's highly regard RRSPWrap™/ MPPPWrap™ / IPPWrap™ RCA programs and its specialized funding concepts like PENSIONPlus™ and PENSIONPlus GIF™ underwritten by a wide range of insurers. RcF continues its long-standing arrangement with BMO Trust Company to provide third-party trust services for all its RCAs.