Buss Financial Group Inc. is a brokerage company and is bound by the laws governing life insurance agents in Ontario and will at all times be guided by the client’s need and best interests. The brokers with our company are licensed for health and life insurance and include Tammy Buss, CFP, CH.F.C., CLU, DFS and Tyler Smith. All our bound by the Code of Ethics of Advocis, the Financial Advisors’ Association of Canada.
The brokers of Buss Financial represent a number of insurers. No insurer holds an ownership interest in Buss Financial nor does it hold an interest in any insurance company other than the purchase of common shares that may be held as part of its investment portfolio.
Buss Financial Group has contracts with the following carriers for life and living benefits: Canada Life, Desjardins Insurance (1), Empire Life, Great West Life, ManuLife, Standard Life, Transamerica Life and Sun Life. The majority of business is placed with Standard Life, Great West Life and Desjardins.
Contracting with additional companies is available to us, as required for specific client needs.
When required, business with companies other than Desjardins Insurance, Standard and Great West life is placed through a Managing General Agent, Daystar Financial. The MGA may have a financial relationship with an insurer but Buss Financial is not part of it. MGAs offer a service to independent brokers and insurance companies by offering administrative services, for example ensuring the policy information is complete before sending it on to an insurer. MGAs do not provide financial or policy advice to consumers. This is the role of the broker.
If you choose to purchase a product through Buss Financial, the company will be paid by the insurer that offers that product. We will be compensated by a sales commission at the time of policy placing and may receive a renewal (or service) commission if you keep that policy in force. The broker may also be eligible for additional compensation, such as bonuses, or non monetary benefits, such as travel incentives, that are dependent on various factors, such as volume or persistency of business that is placed with a particular company during a given time period. Buss Financial is entitled to participate in a share purchase plan with Great West Life. For business place through a MGA, it may receive compensation from the insurer and the MGA.
There are times when it may be prudent to consult with other third party professionals such as lawyers or accountants on your behalf when deemed beneficial or necessary. At all times the client will be advised and requested to pre-approve any such consultation.
Under the terms of this engagement we will provide advice in life, living benefits, retirement planning and group insurance. The client understands that calculations, projections and/or recommendations provided will be based on the information submitted by the client and on assumptions. The client understands that these are projections only and actual results may vary depending on a number of factors and future events.
Insurance and retirement planning is an ongoing process and will require implementation, ongoing monitoring and regular review. As part of this ongoing review process, it is necessary for us to contact you by phone and or email in order to establish a mutually beneficial time to conduct this review. The success of the advisor/client relationship depends on the following client responsibilities:
- Provide Buss Financial with the required information needed to complete the proper analysis and applications.
- Keep Buss Financial apprised of any relevant information regarding the client’s personal information that impacts the planning, and
- Make decisions and act on advice rendered, or seek alternate advice from the broker that will enable the client to reach the planned objectives.
We, in turn, will adhere to our own responsibilities as the broker:
- Advise the client when information is required to complete the work identified under the terms of this agreement and what information is required to maintain the ongoing planning activities.
- Review the client’s financial affairs and provide professional advice in the areas covered by this agreement.
- Provide proactive coordination of services for implementation of the insurance and financial plans.
It will be necessary for the client to provide a variety of very personal financial information. The quality of the work undertaken on behalf of the client requires this personal information be accurate and complete. Buss Financial commits that all information will be held in strictest confidence and that no information divulged about the client’s personal situation to any outside organization or government agency without the client’s prior consent, unless as may be required by law. It is further understood that in accordance with the Personal Information Protection and Electronics Documents Act (PIPEDA), the client directly authorizes and instructs Buss Financial to maintain information of a personal and private nature that could reasonably be considered pertinent or necessary in the provision of financial advice until such time as requested by the client in writing to destroy such information.
Should you require additional information about our qualifications or the nature of our business relationships, we would be pleased to assist you.
For more information please contact:
Buss Financial Group Inc.
120 Wellington Street #201
London, Ontario N6B 2K6
T (519) 672-6060
F (519) 672-4750
1 Desjardins Insurance refers to Desjardins Financial Security Life Assurance Company, a provider of life and health insurance and retirement savings products.