building on strength bank insurance

Building on

Strength

Bank Insurance & Securities Assoc.

September 12, 2005

Building on

Strength

Bank Insurance & Securities Assoc.September 12, 2005

Joe FicoPresidentTD Banknorth Insurance Group

3

New England’s Largest Insurance Agency;

Top 50 in the US;

Approximately $54 million in Annualized Revenue;

$520 million in Sales (Premium Volume);

Over 94,000 Accounts across Three Major Lines of Business:

Commercial

Personal

Employee Benefits

425 Employees;

24 Offices throughout New England and Upstate New York;

Partner with the bank on cross-referrals.

What We Do

4

Over 94,000 Customers

• Commercial 10,000+• Personal Lines 77,000+• Employee Benefits 5,800+• Risk Services 200 +

Investment and insurance products: not a deposit; not FDIC insured; not insured by any federal government agency; not

guaranteed by the bank or any affiliate; and, may be subject to investment risk, including possible loss of value. Insurance

products are offered through TD Banknorth, N.A., TD Banknorth Insurance Group, or their state

licensed agency subsidiaries.• 24 Offices throughout New England and Northern New York:

Organizational Overview

5

Commercial Lines P&C

38%

Retail40%

Employee Benefits Line

16%

Fee6%

Commercial Lines P&C

40%

Retail

35%

Employee Benefits Line

22%

Fee2%

2000 Q205

2000 vs. Q2, 2005 Net Revenueby Line of Business

Query whether this slide tells the story we want it tell from 2000 to the present. Should we just have a revenue mix as of 2004?

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Manage complex insurance programs through the use of

cutting edge technology:

The Customer Extranet: a web-based technology that

enhances our client’s productivity by aggregating

insurance related information and services into a secure,

easy-to-use portal. Types of services available online:

Certificates of Insurance, a Collaborative Project

Environment, Loss Run Reports, Real-Time News, Weather

and Stock Updates, and much more;

HReSource: a web-based resource for employees who

seek information or guidance on benefits, wellness,

human resources, and personal planning matters.

TD Banknorth Insurance Group –An Industry Leader

7

Introducing new sales models:

Meloche Monnex partnership;

Small Business Initiative; and

MA discount program.

How We Sell??

8

Commercial Insurance:

Property Coverage;

General Liability;

Directors & Officers Coverage;

Auto & Fleet Coverage;

Captive Insurance; and

Risk Management & Loss Control Services.

Professional Liability:

Medical malpractice; and

Legal malpractice.

Primary Services

9

Employee Benefits:

Medical;

Dental;

Long Term Disability;

Group Life;

Complete Offering of Voluntary Benefits; and

Payroll Deduct Programs.

Personal Insurance:

Homeowners;

Auto; and

Umbrella.

Primary Services

10

Major Client Types:

Social Service Organizations;

Healthcare;

Education;

Municipalities;

Construction;

Distribution; and

Manufacturing.

Practice Groups

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Middle Market & Large / Complex Commercial Accounts:

>75 Employees with >$5-10 Million Sales;

Difficult classes of business (e.g., Construction, Energy ,

Healthcare, Nursing Homes, Manufacturing).

Large Buying Groups:

Colleges , Contractors, MA. High Tech, Auto Dealers.

Strong TD Banknorth clients that need the advice and expertise we

can offer.

Target Practice Protocol ??Targeted Clients

Building on

Strength


Anne DunneExecutive Vice PresidentBancnorth Investment Group

13

Who Is Bancnorth Investment Group?

Philosophy:

We believe that a targeted plan is the essential first step in achieving long-term financial goals. Rather than focusing on particular investment products and services, our representatives ask questions and listen to better understand the prospect’s or client’s financial needs, investment time frame and tolerance for risk.

• No customer or prospect who wants to invest money should leave the TD Banknorth organization.

• Customer needs are the primary focus.

Bancnorth Investment Group, Inc. is:●An independent registered broker-dealer ●Not affiliated with TD Banknorth, N.A. or its related companies ●Member NASD and SIPCSecurities and insurance products are provided by Bancnorth Investment Group, Inc.:●Not a Deposit ●Not FDIC Insured ●Not insured by any Federal Government Agency ●Not Guaranteed by the Bank or any Affiliate ●May be Subject to Investment Risk, Including Possible Loss of Value.

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Services

Full range of financial planning and brokerage services:

Retirement planning

Investment planning

College planning

Customized financial plans


15

05

Bancnorth Investment Group, Inc, Member SIPC, a

NA Or its affiliates. Not a Deposit Not FDIC Insured. Not

Guaranteed by the Bank or any affiliate. May be

FSR’s

Bancnorth Investment Group

Branches Current as of 07-Securities and insurance products are provided by

Registered broker dealer, not affiliated with TD Banknorth,

Insured by any Federal Government Agency. Not

Subject to Investment Risk, Including Possible Loss ofValue.

71 Offices throughout New England

Total # of Employees 161

# of Producers 79

# of (Series 6 Platform) 15

# of Platform Agents 87

Assets Under Management $ 3.156B

# of Accounts 87,022

Organizational Overview

16

Gross Revenue Growth (in Millions)

0

5

10

15

20

25

30

1998 1999 2000 2001 2002 2003 2004 2005



17

Target Market

Any individual or small business with up to $1 million in investable assets.

• The $500,000 and under market is served by the Investment Group.

• The $500,000 to $1 million market is jointly served by the Investment Group and Wealth Management.


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Sales Force

• 86 Series 7 licensed General Securities Registered Representatives and management staff.

• 33 Series 24 General Securities Principal designation; 6 Series 26 Investment Company/Variable Products Principal designation.

• 25 Series 6 Investment Company and Variable Products Representatives.

• 64 employees have Series 63 Uniform Securities Agent licenses.

• 47 employees have Series 65/66 Investment Advisor licenses.

• 8 have CFP or other designations.

• All hold life insurance licenses.

• 15 Series 6 Platform Financial Services Representatives

• 87 Life & Health licensed Platform Insurance RepresentativesBancnorth Investment Group, Inc. is:●An independent registered broker-dealer ●Not affiliated with TD Banknorth, N.A. or its related companies ●Member NASD and SIPCSecurities and insurance products are provided by Bancnorth Investment Group, Inc.:●Not a Deposit ●Not FDIC Insured ●Not insured by any Federal Government Agency ●Not Guaranteed by the Bank or any Affiliate ●May be Subject to Investment Risk, Including Possible Loss of Value.

19

Services – Full Range of Advice

• On-line discount brokerage available for self-directed individuals.

• 87 Platform Insurance Representatives providing simple issue term and term life insurance and fixed annuities using a profiling process.

• 15 Platform Financial Services Representatives providing mutual funds, fixed annuities, 529 plans, IRA’s, term and whole life and long-term care insurance.


20

Services

• 79 Series 7 Licensed Dedicated Investment Representatives providing full brokerage services focusing on retirement, college and investment planning including:

-- stocks and bonds

-- mutual funds

-- fixed and variable annuities

-- tax-advantaged investments

-- long-term care, term life, whole life, universal and variable life,

and advanced life products

• 8 Senior Investment Representatives providing wrap and separately managed accounts and individual insurance including long-term care, term, whole and variable life, disability, and wealth transfer insurance products.


21

Investments:•Online Self - Service

Insurance: •Debt Cancellation•Direct Mail Term

Insurance (investments):

•Fixed Annuities •Simple Issue Term•Term Life

Investments:•Mutual Funds, •Fixed Annuities •529 Plan•IRAs

Insurance:•Simplified Issue Term•Term Life•Whole Life•Long Term Care

Investments:• Retirement Planning•College Planning•Investment Planning•Stocks and bonds•Mutual Funds•Annuities

Insurance:•Term Life•Variable Life•Long Term Care•Advanced Life

Investments:•Wrap Accounts•Separately Managed Accounts

Insurance:•Term Life•Variable Life•Long Term Care•Advanced Life•Disability•Wealth Transfer

Investments:• HNW Money Management• Trust Accounts•Custodial Accounts

Insurance: (Provided through the InvestmentGroup)•Advanced Life•Disability •Long Term Care•Wealth Transfer

Model Of Scalable Advice: Investments/Insurance

No Advice Some Advice Full Range of Advice Depending on Client Needs

SELF-DIRECTED OR NON-LICENSED BANKERS

$50,000 Fixed Annuities$25,000 Mutual Funds

$50,000 - $500,000 $1,000,000$500,000 -$1,000,000 Jointly served by

Planning and Management

Range of Advice


Non-discretionary Discretionary

INSURANCEREPRESENTATIVES

FINANCIAL SERVICESREPRESENTATIVES

DEDICATED INVESTMENTREPRESENTATIVES

SENIOR INVESTMENTREPRESENTATIVES

WEALTH MANAGEMENT

Building on

Strength


Robert B. EsauPresidentTD Banknorth Wealth Management Group

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Our Goal

We are in the business of managing money. Our goal is to do a better job for our clients than they can do themselves or with their other advisors. If we can’t, we don’t deserve their business.

TD Banknorth Wealth Management Group

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Hudson United

TD Banknorth

ME

NY

NH

VT

MA

CT

NJ

PA RI

Hartford

Philadelphia

Boston


Deposits ($MM) Branches ATMs

TD Banknorth $19,921 386 550Hudson United 6,254 204 201

Pro Forma $26,175 590 751

Annual Revenue: $45 millionAssets Under Management: $10.5 billion# of Clients: 6,226# of Accounts: 10,68430 TD Banknorth Wealth Management Group Offices250 Employees

25


Typical Client

• A typical TD Banknorth Wealth Management Group client needs

four things in their financial lives:

- Organization

- Understanding

- Control

- Growth

Primary Services

- Investment Management

- Full-Service 401(k) Plans

- Estate Planning

- Financial Planning

- Tax Preparation

- Trust Services

- Custodial Accounts

- Corporate Trust

26


Four Major Client Types:

• Traditional Trust Clients

• High Net Worth

• Institutional

• Retirement Plans

27


Traditional Trust Accounts

• Less than $1 Million in Assets

• Primarily Fiduciary Responsibilities

• Full Discretion on Management of Assets

28


High Net-Worth Accounts

• Individually Managed Portfolio

• Over $1 Million in Assets

• Relationship Oriented

High Net-Worth Services

• Financial Planning

• Estate Planning

• Tax Planning

• Coordinate with Banknorth Insurance Group on Insurance

Needs

• Coordinate with Community Banks on Retail Banking

Services

29


Institutional Accounts

• Investment Management Accounts

• Businesses, Endowments, Foundations, Longer-term excess cash

● Custody or Cash Management Accounts

• Shorter-term excess cash

● Specialty/Industry Specific Products

• Captive Insurance, Workers Comp Trusts, Corporate Trusts

Institutional Products

● Equity Portfolios

• Large Cap Core, Growth and Value

• Mid/Small Cap Core, Growth and Value

● Fixed Income Portfolios

• Core Bond

• Intermediate Bond

• Short Term Bond

30


Retirement Plan Accounts

● 401(k) Plans

• Pension Plans

● Money Purchase Plans

• Larger than $1 Million in Assets

● Average 50-500 Participants

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Retirement Plans – Plan Information

• Free Plan Consultation ● Client/Plan Driven Fund

● Prototype Plans/Documentation ● Objectives

● Plan Installation ● Quality Fund Families

● Enrollment Presentations ● Asset Allocation

● Employee Communications ● Management of Risk

● Custody of All Plan Assets

32

Fee-Based Business Org Chart

Board of Directors

William J. RyanChairman,

President & CEO

Andrew (Mickey) W. GreeneSr. EVP

Anne DunneEVP & President


Bob EsauPresident & CEO

TD Banknorth WealthManagement Group

Joe FicoPresident & CEO

TD Banknorth Insurance Group

Nicole GleasonAVP

Sales Development

Janice LeeSr. Executive Assistant

33

Hudson United

TD Banknorth

ME

NY

NH

VT

MA

CT

NJ

PA RI

Hartford

Philadelphia

Boston

Hudson United…More Than Just the Map!

Deposits ($MM) Branches ATMs

TD Banknorth $19,921 386 550Hudson United 6,254 204 201

Pro Forma $26,175 590 751

But the map is

pretty good!

34

Investments:•Online Self - Service

Insurance: •Debt Cancellation•Direct Mail Term

Insurance (investments):

•Fixed Annuities •Simple Issue Term•Term Life

Investments:•Mutual Funds, •Fixed Annuities •529 Plan•IRAs

Insurance:•Simplified Issue Term•Term Life•Whole Life•Long Term Care

Investments:• Retirement Planning•College Planning•Investment Planning•Stocks and bonds•Mutual Funds•Annuities

Insurance:•Term Life•Variable Life•Long Term Care•Advanced Life

Investments:•Wrap Accounts•Separately Managed Accounts

Insurance:•Term Life•Variable Life•Long Term Care•Advanced Life•Disability•Wealth Transfer

Investments:• HNW Money Management• Trust Accounts•Custodial Accounts

Insurance: (Provided through the InvestmentGroup)•Advanced Life•Disability •Long Term Care•Wealth Transfer

Model Of Scalable Advice: Investments/Insurance

No Advice Some Advice Full Range of Advice Depending on Client Needs

SELF-DIRECTED OR NON-LICENSED BANKERS

$50,000 Fixed Annuities$25,000 Mutual Funds

$50,000 - $500,000 $1,000,000$500,000 -$1,000,000 Jointly served by

Planning and Management

Range of Advice


Non-discretionary Discretionary

INSURANCEREPRESENTATIVES

FINANCIAL SERVICESREPRESENTATIVES

DEDICATED INVESTMENTREPRESENTATIVES

SENIOR INVESTMENTREPRESENTATIVES

WEALTH MANAGEMENT

building on strength bank insurance

Documents

personal insurance

commercial insurance

insurance products

certificates of insurance

complex insurance programs

risk services

primary services

new sales models