Sun Life Financial (TSX:SLF) and National Bank (TSX:NA) are forming a strategic partnership that will give Sun Life Financial advisors access to a wide range of National Bank lending products for clients, the two companies said Thursday.

“Access to these National Bank products, along with Sun Life Financial’s industry-leading life insurance, health insurance and wealth management products, positions our advisors to continue to meet the complex financial needs of Canadians,” says Kevin Strain, senior vice president, individual insurance and investments, Sun Life Financial Canada.

“This exciting partnership with Sun Life is a great example of National Bank’s strategy to further its expansion in select markets through strategic alliances. The objective is to grow National Bank’s third-party distribution by developing partnerships that can quickly deliver a competitive and comprehensive value proposition, including a suite of lending products,” adds Martin Lavigne, senior vice president, third-party business solutions, National Bank Financial Group.

Working with over 3,000 Sun Life Financial advisors, clients will now be able to choose from a wide spectrum of National Bank brand products, including:

• an RRSP loan program, starting in November 2009;
• the “All-In-One” account and conventional mortgages, on an advisor referral basis, beginning in March 2010; and
• investment loans in the spring of 2010.

With the partnership, Sun Life says its clients will now enjoy:

• the ability to consolidate their consumer debts at a competitive interest rate;
• a consolidated view of all of their cash management activities in one monthly statement;
• free, unlimited electronic transactions; and
• a minimum amount of $25,000 to open a line of credit.

IE