While question marks such as potential job losses overhang the takeover Canada Life Financial Corporation by Great-West Lifeco Inc., Great-West’s top executive clarified two areas of direct interest to advisors during this morning’s news conference called to announce the transaction.

On the branding side, advisors dealing in Canada Life’s individual life insurance and segregated funds will not have to deal with problems such as client confusion often associated with a takeover, since Great-West plans to retain the Canada Life brand on those product lines.

That will allow Great-West to take advantage of the brand loyalty associated with the Canada Life name, explains Great-West Lifeco Inc. president and chief executive officer Raymond McFeetors.

However, on group life and other products, the two brands will be merged. “With the group product, the way the market works you can’t go to the market with multi-brands,” he says.

McFeetors adds that while Great West has no plans to launch any hybrid or co-branded products, the merger does not preclude new products for either brand.

On the distribution side, Great-West will acquire its first-ever managing general agent channel, since it will be acquiring the Canada Life MGA network, which currently has roughly 52 MGA’s under contract.

MGA’S essentially act wholesalers in situations where advisors selling life products do not sign contracts directly with insurance companies.

McFeetors expects the deal to close by mid-year, pending regulatory approval.