Broker Disclosure Statement
Advisor Disclosure Investing in an insurance product is an important step in protecting your future. As an insurance advisor, I am obliged to provide written disclosure of my business relationships, how I am compensated and any potential conflicts of interest to my clients. To assist you in making an educated choice, it is my responsibility to provide you with information on products and the companies that offer them and explain how different products meet different needs. This document will describe the pertinent points regarding me and my Agency. As such, please carefully read the information provided, sign and date below.
About Me: I am an independent life insurance advisor who uses the services of IDC Worldsource Insurance Network (IDC WIN) as a MGA (Managing General Agency) through which I have access to insurer products and to place business. I am licensed to offer life insurance, living benefits and investment products in the provinces of British Columbia and Alberta. Living benefits may include disability income protection, critical illness and long-term care insurance coverages. Life Insurance includes short term and permanent types of coverage. Additionally, I can help clients with life insurer investment types of plans such as annuities and segregated funds.
Companies’ Products Available: I have access to the insurance company products of Assumption Life, Empire Life, Industrial Alliance, RBC Insurance, Canada Life, Canada Protection Plan, Beneva and Equitable Life through my business - Tempo Financial Services. In addition, my Agency can refer you to an independent insurance advisor who can offer services in the following product lines: • Mutual Funds through IDC WIN. • Property and Casualty insurance through Central Agencies. • Employee Benefit programs through IDC WIN.
Nature of Relationship with Companies: No insurer holds an ownership interest in Tempo Financial Services and I, nor does Tempo Financial Services or I hold an ownership interest in any insurance company.
Compensation: If you choose to purchase a product through me, Tempo Financial Services will be paid by the company that offers the product you choose. Tempo Financial Services is compensated by a sales commission for most products once the policy has been delivered and accepted by you. Tempo Financial Services may also receive a renewal (or service) commission for policies which remain inforce. For certain products, the compensation may be different from the standard commission scale and Tempo Financial Services may be paid via a referral fee. I will advise you if this occurs.
Dependent upon various factors, if my sales reach a certain level, either myself and/or my employer may be eligible for additional compensation, such as bonuses and other benefits, such as travel conferences. Recognition / incentive-based compensation is an industry wide practice and is a standard form of payment.
As an insurance advisor, I am bound by the codes of conducts and laws governing life insurance brokers. As part of our discussions pertaining to product selection, the amount of compensation received will not play a factor in the recommendations made to you. Our recommendations are selected from a broad range of products from various companies. A careful assessment of your financial needs and requirements has been considered as part of my overall review. This means that any insurance product(s) I recommend to you will be the product(s) I consider to best suit your needs, regardless of the compensation earned.
Conflict of Interest: I take the potential of a conflict of interest seriously. I am also employed minimal part-time client relations with a construction and emergency repair and restoration company (EPIC). There is no crossover, no exchange of leads/information and no conflict of interest. I work in separate offices for my work at EPIC and for my life insurance business. I will notify you if there is a conflict of interest of which I become aware of with respect to the services I provide to you. My services will take into consideration and prioritize your financial needs and your best interests.
Client’s Right to Ask for More Information: If you would like further information about Tempo Financial Services, my qualifications or business relationships, please contact me and I will be happy to help.
Client Acknowledgment: I have read and understand the implications of this disclosure, including any conflict of interest or potential conflict of interest associated with the advisor in relation to any recommendations made.
By agreeing to proceed with an application for insurance, I acknowledge this disclosure and I agree to continue discussions with you and understand that I may ask for further information regarding this disclosure through email at blaine@tempofinancialservices.ca or by phone at (604) 349-3280.
This Disclosure Statement has been prepared by Blaine Booth and is responsible for its accuracy.