Why Choose Lawyers Financial?
Serving the legal community
Lawyers Financial retirement, investment and savings products are available to the entire Canadian legal community. That includes lawyers, law students, judges, Quebec notaries and legal community retirees, and their families and staff. Because of our size, we are able to negotiate low fees and access to high quality investment managers.
Not-for-profit
As a not-for-profit organization, we measure success in satisfied clients, not dollars. Our goal is to provide the legal community with the best value, period.
Invest with confidence
Lawyers Financial has partnered with Canada Life, one of Canada’s largest financial institutions, to offer you a wide selection of investment fund options from leading investment firms such as BlackRock, Invesco, Mawer, Fiera, Jarislowsky Fraser, MFS, Leith Wheeler, PH&N, CC&L, TD, and more.
Best-in-Class Funds
Explore a curated selection of 20 best-in-class solutions that provides you with a diverse mix of underlying investments representing every major asset class from global equities to Canadian bonds.
Segregated funds advantage
Lawyers Financial funds are segregated funds, the insurance industry’s version of mutual funds, which means they avoid probate fees/taxes and are settled quickly and privately if a beneficiary is named. Furthermore, they may be sheltered from creditors in the event of bankruptcy. Please check with your financial/legal/accounting professional for details.
Plans for every need
We offer plans for virtually every need:
- RRSPs, Law Firm Group RRSPs
- TFSAs, Law Firm Group TFSAs
- Non-registered accounts, Law Firm Group Non-registered Accounts
- RRIFs, Law Firm Group RRIFs
- Pensions
GIC/GIA pool
It’s the best of both worlds with our 5-year GIC/GIA pool. Enjoy access to 5-year rates, but with liquidity: your money can be withdrawn at any time. It’s a great alternative to high interest savings accounts and fixed-term, locked-in GICs.
Open an account online, 24/7
Signing up is a snap. Simply open an account to initiate the enrollment and contracting process. Access your account anytime at https://mysite.lawyersfinancial.ca
Brand name fund managers at a discount
Lawyers Financial gives you access to some of the world’s top fund managers at better-than-retail investment management fees (IMFs). Lower IMFs could save you hundreds of thousands of dollars over your lifetime. As a rule of thumb, a 1% decrease in investment fees will result in a 20% increase in your assets by the time you retire. And then, in retirement, a 1% decrease in investment fees will result in a 20% increase in investment income.
Loyalty discount
We believe in rewarding loyal clients. As your account grows, you benefit from even lower IMFs. Account balances between $50,000 and $499,999.99 receive a discount of 0.10%, and account balances of $500,000 or more receive a discount of 0.20% off our already low IMFs.
Canadian Bar Association (CBA) member discount
CBA members receive an additional investment fee discount of 0.40%. Combined with the loyalty discount, the savings are substantial.
Rebalance your portfolio
We’ve made it easy to rebalance your portfolio with just a click of your mouse.
Retirement income calculator
The Lawyers Financial retirement, investment and savings plans are administered by TELUS Health, Canada’s largest administrator of retirement and benefit plans. As a Lawyers Financial client, you have access to the TELUS Health Retirement Income Calculator, which provides a quick and simple online process to track progress toward meeting your retirement goal. The calculator will also suggest ways to get you on track if you need help.
Cost transparency
Fees are itemized within your account so you can maximize potential tax deduction in your non-registered account.
Advisors across the country
Lawyers Financial Advisors, who are located across the country, can help you select the investment options that are right for you. Just click on Find An Advisor, or send us an email and we’ll have an Advisor get in touch with you.
Contributing is easy
Contributions can be made by cheque, eft from our secure website, or by way of transfer from another plan.
Service and support
Take advantage of superior administrative support. Contact the Lawyers Financial Investment Program Call Centre at 1-866-497-9091, Monday to Friday, from 9 am to 5 pm EST, send us an email or contact your Lawyers Financial Advisor.
Law firms
Benefits of a Group Retirement/Investment/Savings or Pension Plan
- Attract and retain employees. A group savings plan is a valuable benefit. It gives employers the opportunity to supplement employee savings, and it can help attract and retain talent. Your employees receive all the benefits of the Lawyers Financial Plan: click here for details.
- Administer with ease. Take advantage of superior administrative support from TELUS Health, Canada’s largest administrator of retirement and benefit plans. Sign up is a snap, simply click open an account to initiate the enrollment and contracting process.
- Convenience. Employee enrollment is a snap with our secure, online process. Once employees join the plan they have access to account information online, 24/7, at their convenience.
- Flexibility. Employers determine the contribution formula that best suits the organization and its employees.
- Tax deductibility. Employer contributions to the plan are tax-deductible. For RRSP contributions, employees receive immediate tax relief on source deductions.
- Affordable. There are no annual administration fees, and, except for a Pension, the employer is not required to make any contributions.
- Advisor support. Your Lawyers Financial Advisor will provide minimal or extensive support, as you and your employees determine, to help employees make the right investment choices.
- Financial reporting. Employers receive comprehensive financial reporting with detailed plan-level information.
- Contribution submission. Contributions can be submitted easily and quickly through a secure electronic process.
- Retirement support. At retirement, it’s easy for employees to convert their RRSP or Pension savings into income with the Lawyers Financial RRIF/LIF.
The Lawyers Financial Investment Program is administered by TELUS Health, Canada’s largest retirement and benefits plan administrator. Investments are provided by Great-West Life, one of Canada’s largest financial services companies.
Investment funds may increase or decrease based on performance of the underlying assets.
