Officials at the centre of Manulife’s purchase of Benesure and its MPP brand say the mortgage originator has no intention of poaching broker clients.
“We want to reassure those who have such concerns that they have nothing to worry about,” said Elizabeth Elliot, VP of marketing for Benesure, now under the insurance and mortgage giant’s umbrella. “It is in Manulife’s and Benesure’s interest to ensure the channel continues to flourish with MPP.”
Shortly after the announcement of Manulife’s acquisition of Benesure, MortgageBrokerNews.ca readers posted questions about the deal’s possible outcome.
“So Manulife will try to convert the thousands of customers brokers have sent MPP into Manulife mortgages. Is it time for brokers to find a new mortgage insurer, who is our partner, not our competitor?” wrote one reader.
“It is definitely fair to ask: will Manulife leverage the Benesure / MPP insurance clients to sell other Manulife products to? Will a Benesure / MPP client be passed on to a Manulife financial planner to attempt to cross sell other products?” another reader commented.
In her email to MortgageBrokerNews.ca, Elliot pointed out that Manulife has a strong track record of working closely with advisors and intermediaries.
“They are governed by privacy rules and have always abided by these,” she said. “In doing so, they understand, respect and honour business relationships and client information that Benesure has developed.”