How I’m licensed, and how I’m paid.
Plain answers to the questions you should ask any advisor before you work with them. If anything here is unclear, ask me and I’ll explain it.
My licence
I’m licensed by the Financial Services Regulatory Authority of Ontario (FSRA) as a life and accident & sickness insurance agent, licence #22207349. You can check any licence on FSRA’s public search at fsrao.ca.
That licence covers:
- Life insurance, critical illness insurance and disability insurance
- Investment and savings products issued by insurance companies: segregated fund contracts and annuities
- RRSP, TFSA, FHSA, RESP and RRIF accounts held through those products
If you ever need something my licence doesn’t cover, I’ll tell you, and point you to someone licensed to help.
Car, home and business insurance quotes on this site are provided by Surex, a licensed general insurance brokerage. They’re outside my advisory relationship with you.
Companies I work with
ClearestFinances is the name of my own practice. I’m self-employed, not an insurance company employee, and I’m contracted with one insurer, iA Financial Group, which issues every insurance and investment product I offer. Because I work with one company rather than many, I won’t be comparing prices across insurers for you. If another company is a better fit for something you need, I’ll say so.
iA Financial Group is a business name and trademark of Industrial Alliance Insurance and Financial Services Inc. ClearestFinances is not an iA brand.
How I’m paid
- The Complimentary Clarity Session is free. No charge, and no obligation to buy anything afterwards.
- Paid sessions are a flat fee ($95 to $450, in CAD, taxes included), paid when you book. The price is listed before you book, and nothing is added later.
- Insurance and investment products pay me a commission. It’s paid by iA, not billed to you separately; it’s built into the product’s cost or fees. The amount depends on the product.
- Some investment accounts use an advisory fee instead. If you choose one, we agree the fee together in writing before you invest, and it shows on your statements.
- iA also pays bonuses based on the total amount of business I place with them each year, and offers its advisors benefits such as group insurance.
Feel free to ask what I’d earn on anything I recommend. I’m always happy to walk you through it.
Conflicts of interest
Because I’m paid when you buy a product, I have a financial interest in what you choose, and some products pay more than others. Here’s how I handle that:
- Needs come first. Recommendations come out of a needs analysis we go through together, and you keep a copy.
- You see the reasons. I’ll explain why I’m recommending something, and what the alternatives are.
- No pressure. You can take the numbers away and decide in your own time.
- Sometimes the answer is nothing. If the best move for you doesn’t involve buying anything from me, I’ll say so.
The standard I’m held to
I’m licensed and regulated by FSRA. My recommendations must be suitable for your needs and goals, and I’m required to treat you fairly.
Investment products I offer are segregated fund contracts. Any amount allocated to a segregated fund is invested at the risk of the contract holder and may increase or decrease in value. Maturity and death benefit guarantees (usually 75% to 100% of what you put in) apply only as described in the contract. Illustrations on this site are hypothetical and are not guarantees.
Referrals
If you introduce someone to me, thank you. I don’t pay for introductions, and I don’t offer gifts, rebates, cash or prize draws for them.
If something goes wrong
- Tell me first. Message me on WhatsApp (opens WhatsApp) or email franklyn.marshall@agc.ia.ca. Most things can be put right quickly.
- The insurance company. If it isn’t resolved, iA Financial Group has its own complaints office: see iA’s complaint handling policy, or email complaintsofficer@ia.ca.
- An independent ombudsman. The OmbudService for Life & Health Insurance (OLHI) handles unresolved complaints for free: olhi.ca.
- The regulator. You can also contact FSRA directly at fsrao.ca.