Empire Life announced Aug. 1 that it has launched a new online app for segregated funds. The Fast & Full Investment Application Process is the first 100% digital application for seg funds available in Canada, says the insurer.

Advisors can use this new web-based tool with their clients to complete, submit, and fund new segregated fund policies.

Eliminates long paper forms

The Fast & Full Investment App “features a 5-step electronic investment application process that is easy to follow, eliminates long paper forms and offers pre-authorized debit as an initial electronic payment option,” stated the company in an announcement. Advisors will also be able to request transfers from other financial institutions electronically.

Electronic signatures

The Fast and Full Investment App works on tablets, desktop or laptop computers and uses electronic signatures.

“By focusing on improving the user experience for both the client and the advisor, this new digital tool saves time, is more convenient and simplifies the process of applying for these investments with Empire Life,” says Mike Stocks, Vice-President and Chief Marketing Officer, Retail.

Frees up time

“The online application helps to reduce paper and the need for couriers and now provides an option for clients and advisors to meet non-face-to-face when scheduling a meeting in person is difficult,” says Stocks. “Advisors will have more time to meet with clients to review their needs and provide investment solutions rather than spending time on paperwork and administrative tasks. It’s easier and faster doing things online and over the phone.”

The non-face-to-face option is only available for registered and TFSA accounts, notes the company.