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Global Educational Marketing Corporation
Background to the Success Story
Sam Bouji founded Global RESP Corporation in 1997 believing that of all the financial savings instruments, Education Savings Plans (ESPs) would best help Canadian children afford a post-secondary education. Directly prior to opening his own company, Mr. Bouji was the top sales representative for another Education Savings Plan provider, and knew the important role ESPs would continue to play in having more educated citizens able to contribute to a successful Canadian society.
With the desire to offer a superior product in comparison with other providers, he formed a focus group of his best team members - many of whom had worked previously for other ESP providers - and asked them "What do we need to do to create the best Education Savings Plan in the marketplace? What do families want?" Out of this meeting and his own experience resulted The Global Educational Trust Plan combining the best features of existing Group Scholarship Plans while further adding flexibility and many features to appeal to young families. Since first beginning to market the Global Educational Trust Plan on October 14, 1998, sales growth of the Global Plan has proved him right!
"In these seven years our rapid growth has kept pace with parents' increasing awareness that Education Savings Plans are one of the best ways to save for their children's post-secondary education" , says Sam Bouji of the Global Plan.
In fact, the total of funds under administration in the Global Educational Trust Plan has reached $98,802,577 as of June 30, 2005. By September 30, 2005 Global will have paid out over $6 million in funding since its inception to help pay for college and university costs. Approximately 45,000 children have been enrolled in the Global Plan.
Says Mr. Bouji, "Our sales growth and management excellence are allowing us to grow at a faster pace than more established Group Scholarship ESP providers. We are proud of our business relationships that have enabled us to grow so quickly; among them are the Bank of Nova Scotia and Bank of Nova Scotia Trust Company. These institutions serve as our Depository and Trustee".
Global Educational Marketing Corporation is the primary distributor of the exclusive Global Educational Trust Plan - a program that permits growth on contributions to remain tax sheltered while in the RESP. The Global ESP combines the best features of traditional group scholarship plans with the flexibility of a managed investment account. The Company's Senior Vice President of Education Savings Plans, Nicolas Zabaneh credits the Corporation's incentive programs and not charging agency fees or having exclusive territories for attracting its large number of sales representatives.
The Global Educational Trust Plan is sold through Global Education Savings Plan licensed sales representatives but also through mutual fund advisors and dually licensed, independent insurance brokers and is offered by prospectus.
Since its June 11, 1997 incorporation and the 1998 opening of its first Toronto office, Global Educational Marketing Corporation has grown to serve Canadians across Canada. Increasingly, inquiries and requests for information and enrolments are handled over the company's Web site www.globalemc.com and its toll-free telephone line 1-877-460-7377.
Sam Bouji credits the Federal Government's financial support through the Canada Education Savings Grant (CESG) for firmly establishing registered ESPs as the savings instrument of choice recommended by most financial advisors today. "In 1998, both the Federal Government's introduction of legislative changes to Registered Education Savings Plans and, particularly its introduction of the Canada Education Savings Grant, together had a powerful and positive effect". (For every dollar invested in a child's RESP, the federal government deposits 20 cents to a maximum of $400 a year. Over 18 years that can amount to $7,200, plus interest.) New enhancements introduced in 2004 increase the government contribution on the first $500 invested annually. The Federal Government also introduced the Canada Learning Bond - a grant program that encourages lower income families to save towards their children's education.
The Global Educational Trust Plan offers maximum flexibility with client-friendly features like permitting deposit arrangements on a personal basis when a family encounters a temporary financial setback. The Global Plan also enables Canadians of any age to enroll in the Plan. The Global Plan was founded with a strong desire to serve all Canadians including new Canadians whose financial foundation might rest on the education of their children.
For more information, please contact:
Marketing & Communications
Tel.: (416) 741-7377
E-mail: media@globalfinancial.ca
Fax: (416) 741-8987
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