LICENSE, JURISDICTION AND DISTRIBUTOR RELATIONSHIP
Our Financial Plans are independent licensed advisors for life and health insurance in the province(s) of Ontario.
Our advisors may also be licensed/registered in the following fields for the sale of Mutual Funds through Quadrus Investment Services Inc.
For insurance products, our advisors process insurance related business through Financial Horizons Group (a Managing General Agent, or “MGA” ), which will pay us, or direct the insurance company to pay us a bonus on commissions earned from the sale or insurance products that we sell. This bonus constitutes a portion of the overall compensation we are paid in conjunction with commissions referenced below.
In addition, our independent advisors have full discretion to deal with one or other insurers with whom we trade and are not subject to any pressure from Financial Horizons Group to favour one or the other insurer.
OTHER DISTRIBUTOR RELATIONSHIPS.
Our Advisors also refer our clients to Manulife Bank for banking and mortgage products.
In order to maintain our life/accident and sickness license, we are required to meet mandatory continuing education. Where applicable, we meet these educational requirements through attendance at various seminars and industry meetings.
COMPENSATION – MONETARY AND NON-MONETARY
Upon completion of an insurance transaction, we will be paid a sales commission by the company that provides the product you purchase which is generally based on a percentage of the premiums. We may receive a renewal (or service) commission if you keep that policy in force. Should your contract be cancelled within a certain period of time we may be subject to a chargeback for a portion or all of the commissions earned.
NATURE OF OUR RELATIONSHIPs WITH THE COMPANIES I REPRESENT
No insurance company holds an ownership interest in our business, nor do we hold or control ownership in any insurance company.
Our Financial Plans can offer you a full range of insurance products and services including life, critical illness, disability, long term care, segregated funds, annuities, health and dental, GIA’s, Investment Products and group benefits.
COLLECTION OF INFORMATION
Our Financial Plans will, from time to time, collect financial and other information on you. This information includes transaction-related details arising from your relationship with or through us. We may obtain this information from a variety of sources, including your own records with us, from transactions you have made with or through us, or other financial institutions, and from references you have provided to us.
USE OF INFORMATION AND ACCESS TO INFORMATION
Our Financial Plans maintains this information when you apply for an insurance product or service, and during the course of our relationship in order to administer the insurance product or service for which you have applied and to fulfill our legal and regulatory obligations. For these purposes, we will have to share your information with a third party service, such as paramedical service providers and insurers to whom you are applying for an insurance product or service. You have the right to obtain access to the information we hold about you on file at any time to review its content and accuracy and to have it amended as appropriate. To request access to your information, to ask questions about our privacy policies, or to request that the information not be shared or used for the purposes outlined above, you can now or anytime in the future contact us. If you are no longer our client or this agreement terminates, we may keep your information in our records so long as it is needed for the purposes described above or if it may be required by the law.
You are not required to transact additional or other business with us as a condition of any transaction. Other than outlined above, your personal information will not be shared with individuals or other organizations.
CANADIAN ANTI-SPAM LEGISLATION: EXPRESS CONSENT
Canada’s anti-spam law (CASL) came into effect on July 1st, 2014 and may affect our ability to send you a commercial electronic message (CEM) on topics of interest to you, as well as invitations to our events. By completing our disclosure and relationship agreement, you consent to receiving from Our Financial Plans. For information about CASL, please visit: www.crtc.gc.ca/eng/casl-lcap.htm.