We are paid by a combination of ways. Fee for service; Fee-based Investments; Commission for insurance-based products.
Fee Based: Together we determine the scope of work required and agree on a value for this work with deliverable benchmarks. We provide you with an estimate of costs based upon time. Where allied professionals are required, they will have their own estimates of costs usually based upon their hourly rate.
Fee-based Investments: We work on a percentage of assets-based fee arrangement. We have a variety of approaches which are tailored to your specific needs or circumstances. As fully independent advisors we have tremendous price flexibility.
Commission: In the purchasing of Individual Insurance Products (Life, Critical Illness, Disability Income Protection) and GIC’s, can only be purchased with a commission structure. The commission rate is established by the insurance company, bank, trust company or credit union used. There is very little variability from one company to another. Both the insurance type and amount are based upon our need’s analysis. Under current regulations, insurance purchases require a written justification for each purchase. Only exceptionally high premium and face amount policies can the cost associated with these policies be negotiated with the insurance company. Commission would be included in these negotiated costs.