Building on Strength

1
Building on Strength
Bank Insurance Securities Assoc. September 12,
2005
2
Building on Strength
Joe Fico President TD Banknorth Insurance Group
Bank Insurance Securities Assoc. September 12,
2005
3
What We Do

• New Englands 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.

4
Organizational Overview

• 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

5
2000 vs. Q2, 2005 Net Revenueby Line of Business

2000
Q205
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?
6
TD Banknorth Insurance Group An Industry Leader

• Manage complex insurance programs through the use
  of cutting edge technology
• The Customer Extranet a web-based technology
  that enhances our clients 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.

7
How We Sell??

• Introducing new sales models
• Meloche Monnex partnership
• Small Business Initiative and
• MA discount program.

8
Primary Services

• 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.

9
Primary Services

• Employee Benefits
• Medical
• Dental
• Long Term Disability
• Group Life
• Complete Offering of Voluntary Benefits and
• Payroll Deduct Programs.
• Personal Insurance
• Homeowners
• Auto and
• Umbrella.

10
Practice Groups

• Major Client Types
• Social Service Organizations
• Healthcare
• Education
• Municipalities
• Construction
• Distribution and
• Manufacturing.

11
Target Practice Protocol ??Targeted Clients

• Middle Market Large / Complex Commercial
  Accounts
• gt75 Employees with gt5-10 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.

12
Building on Strength
Anne Dunne Executive Vice President Bancnorth
Investment Group
Bank Insurance Securities Assoc. September 12,
2005
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 prospects or clients
  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 SIPC Securities 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.
14
Services

• Full range of financial planning and brokerage
  services
• Retirement planning
• Investment planning
• College planning
• Customized financial plans

Bancnorth Investment Group, Inc. is ?An
independent registered broker-dealer ?Not
affiliated with TD Banknorth, N.A. or its related
companies ?Member NASD and SIPC Securities 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.
15
Bancnorth Investment Group

Organizational Overview

• 71 Offices throughout New England

• Total of Employees

161

• of Producers

79
FSRs

• of

(Series 6 Platform) 15

• of Platform Agents

87

• Assets Under Management 3.156B

• of Accounts

87,022
05
Branches Current as of 07-
Securities and insurance products are provided by
Bancnorth Investment Group, Inc, Member SIPC, a
Registered broker dealer, not affiliated with TD
Banknorth,
NA Or its affiliates. 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.
16
Gross Revenue Growth (in Millions)
Bancnorth Investment Group
Bancnorth Investment Group, Inc. is ?An
independent registered broker-dealer ?Not
affiliated with TD Banknorth, N.A. or its related
companies ?Member NASD and SIPC Securities 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.
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.

Bancnorth Investment Group, Inc. is ?An
independent registered broker-dealer ?Not
affiliated with TD Banknorth, N.A. or its related
companies ?Member NASD and SIPC Securities 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.
18
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
  Representatives

Bancnorth Investment Group, Inc. is ?An
independent registered broker-dealer ?Not
affiliated with TD Banknorth, N.A. or its related
companies ?Member NASD and SIPC Securities 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, IRAs, term and whole life and long-term
  care insurance.

Bancnorth Investment Group, Inc. is ?An
independent registered broker-dealer ?Not
affiliated with TD Banknorth, N.A. or its related
companies ?Member NASD and SIPC Securities 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.
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.

Bancnorth Investment Group, Inc. is ?An
independent registered broker-dealer ?Not
affiliated with TD Banknorth, N.A. or its related
companies ?Member NASD and SIPC Securities 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.
21
Model Of Scalable Advice Investments/Insurance
Range of Advice
Non-discretionary
Discretionary
Full Range of Advice Depending on Client Needs
No Advice
Some Advice
WEALTH MANAGEMENT
 
Bancnorth Investment Group
SENIOR INVESTMENT REPRESENTATIVES

• Investments
• HNW Money Management
• Trust Accounts
• Custodial Accounts
• Insurance (Provided through the Investment
• Group)
• Advanced Life
• Disability
• Long Term Care
• Wealth Transfer

DEDICATED INVESTMENT REPRESENTATIVES

• Investments
• Wrap Accounts
• Separately Managed Accounts
• Insurance
• Term Life
• Variable Life
• Long Term Care
• Advanced Life
• Disability
• Wealth Transfer

• Investments
• Retirement Planning
• College Planning
• Investment Planning
• Stocks and bonds
• Mutual Funds
• Annuities
• Insurance
• Term Life
• Variable Life
• Long Term Care
• Advanced Life

FINANCIAL SERVICES REPRESENTATIVES
INSURANCE REPRESENTATIVES
SELF-DIRECTED OR NON-LICENSED BANKERS

• Investments
• Mutual Funds,
• Fixed Annuities
• 529 Plan
• IRAs
• Insurance
• Simplified Issue Term
• Term Life
• Whole Life
• Long Term Care

• Insurance (investments)
• Fixed Annuities
• Simple Issue Term
• Term Life

• Investments
• Online Self - Service
• Insurance
• Debt Cancellation
• Direct Mail Term

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
22
Building on Strength
Robert B. Esau President TD Banknorth Wealth
Management Group
Bank Insurance Securities Assoc. September 12,
2005
23
TD Banknorth Wealth Management Group

• 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 cant, we dont deserve their
  business.

24
TD Banknorth Wealth Management Group

• Annual Revenue 45 million
• Assets Under Management 10.5 billion
• of Clients 6,226
• of Accounts 10,684
• 30 TD Banknorth Wealth Management Group Offices
• 250 Employees

ME
NH
VT
NY
Boston
MA
Hartford
PA
RI
CT
TD Banknorth
Philadelphia
NJ
Hudson United
25
TD Banknorth Wealth Management Group

• 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
TD Banknorth Wealth Management Group

• Four Major Client Types
• Traditional Trust Clients
• High Net Worth
• Institutional
• Retirement Plans

27
TD Banknorth Wealth Management Group

• Traditional Trust Accounts
• Less than 1 Million in Assets
• Primarily Fiduciary Responsibilities
• Full Discretion on Management of Assets

28
TD Banknorth Wealth Management Group

• 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
TD Banknorth Wealth Management Group

• 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
TD Banknorth Wealth Management Group

• Retirement Plan Accounts
• ? 401(k) Plans
• Pension Plans
• ? Money Purchase Plans
• Larger than 1 Million in Assets
• ? Average 50-500 Participants

31
TD Banknorth Wealth Management Group

• 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
33
Hudson UnitedMore Than Just the Map!
ME
NH
VT
But the map is pretty good!
NY
Boston
MA
Hartford
PA
RI
CT
TD Banknorth
Philadelphia
NJ
Hudson United
34
Model Of Scalable Advice Investments/Insurance
Range of Advice
Non-discretionary
Discretionary
Full Range of Advice Depending on Client Needs
No Advice
Some Advice
WEALTH MANAGEMENT
 
Bancnorth Investment Group
SENIOR INVESTMENT REPRESENTATIVES

• Investments
• HNW Money Management
• Trust Accounts
• Custodial Accounts
• Insurance (Provided through the Investment
• Group)
• Advanced Life
• Disability
• Long Term Care
• Wealth Transfer

DEDICATED INVESTMENT REPRESENTATIVES

• Investments
• Wrap Accounts
• Separately Managed Accounts
• Insurance
• Term Life
• Variable Life
• Long Term Care
• Advanced Life
• Disability
• Wealth Transfer

• Investments
• Retirement Planning
• College Planning
• Investment Planning
• Stocks and bonds
• Mutual Funds
• Annuities
• Insurance
• Term Life
• Variable Life
• Long Term Care
• Advanced Life

FINANCIAL SERVICES REPRESENTATIVES
INSURANCE REPRESENTATIVES
SELF-DIRECTED OR NON-LICENSED BANKERS

• Investments
• Mutual Funds,
• Fixed Annuities
• 529 Plan
• IRAs
• Insurance
• Simplified Issue Term
• Term Life
• Whole Life
• Long Term Care

• Insurance (investments)
• Fixed Annuities
• Simple Issue Term
• Term Life

• Investments
• Online Self - Service
• Insurance
• Debt Cancellation
• Direct Mail Term

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