BDM FAQ - Accountants and Bookkeepers
Frequently Asked Questions
Partnership Overview
| Category | Potential Questions | Updated Response |
| Understanding IFSG | What is IFSG, and how does it align with our accounting/bookkeeping services? | ✔ IFSG provides financial solutions and resources (FS&R) to help accountants and bookkeepers offer complementary financial protection, tax optimization, and investment strategies to their clients. ✔ Our services align with business growth, financial security, and wealth management needs. |
| Benefits of Partnership | What are the benefits of partnering with IFSG? | ✔ Expand services by offering FS&R alongside tax and financial planning. ✔ Enhance client value by providing additional financial security solutions. ✔ Increase business visibility and attract more clients. For Licensed Bookkeepers and Accountants: ✔ Licensed professionals sponsored by IFSG are eligible for full commission on referrals. ✔ Licensed bookkeepers and accountants who are not sponsored by IFSG qualify for a starting commission split of 20% of the First Year Commission (FYC). For Non-Licensed Bookkeepers and Accountants: ✔ Cannot split commissions with IFSG due to regulatory restrictions. ✔ Instead, IFSG can contribute to their marketing campaigns as a form of compensation for client referrals. ✔ IFSG can also donate to a nonprofit organization of their choice or to the nonprofit organizations supported by IFSG on their behalf. |
| Terms of Partnership | What are the terms of the partnership agreement? | ✔ The partnership is flexible, non-exclusive, and commission-based, with no upfront costs. For Licensed Bookkeepers & Accountants: ✔ Licensed professionals sponsored by IFSG are eligible to receive commission splits on referrals. ✔ An agreement form will outline the responsibilities of both IFSG and the business partner. ✔ The agreement includes guidelines on ethical behavior, ensuring mutual respect and professionalism. ✔ Business partners are expected to assist in promoting IFSG’s benefits and services. ✔ The agreement also details extension and termination conditions for transparency. For Non-Licensed Bookkeepers & Accountants: ✔ Non-licensed professionals are not eligible for commission splits due to regulatory restrictions. ✔ Instead, IFSG offers alternative compensation through: • Marketing bonuses to support their business growth. • Donations to a nonprofit organization of their choice or one supported by IFSG, made on their behalf. ✔ The partnership is designed to be seamless and simple, ensuring easy integration into existing services. |
| Training & Support | What support does IFSG provide to accounting and bookkeeping partners? | ✔ No training required—we keep the process simple and seamless. ✔ IFSG provides guidelines to clarify the partnership. ✔ Partners only need to introduce IFSG to their clients—no additional effort is required. ✔ IFSG provides all necessary information resources directly to clients. ✔ We ensure minimal disruption to existing operations, making integration hassle-free. |
Relevance to Accounting & Bookkeeping
| Category | Potential Questions | Updated Response |
| Industry Alignment | How does IFSG complement accounting and bookkeeping services? | ✔ We provide financial solutions that help accountants and bookkeepers support their clients with financial stability, risk mitigation, and tax efficiency. ✔ IFSG complements existing services by addressing business protection, investment planning, and wealth accumulation. |
| Client Benefits | How will my clients benefit from this partnership? | ✔ Clients gain access to financial protection, investment options, and business security solutions. ✔ IFSG provides essential financial services, while our trusted industry partners offer additional solutions. ✔ Clients receive comprehensive financial support beyond tax and bookkeeping. |
| Integration with Existing Services | How do we integrate IFSG services into our accounting and bookkeeping practice? | ✔ No additional training is required. ✔ Partners simply introduce IFSG to their clients, and we provide the financial resources. ✔ Designed for easy integration with minimal impact on existing operations. |
| Tax Optimization | Can IFSG help my clients with tax-efficient financial strategies? | ✔ IFSG’s financial solutions can be used for tax optimization. ✔ Additional services available through our partners: • RRSPs & RESPs • TFSAs • Corporate investment structures for tax efficiency. |
FS&R Solutions for Business Owners & Individuals
| Category | Potential Questions | Updated Response |
| Business Insurance | What kind of insurance solutions does IFSG offer for business owners? | ✔ IFSG-provided solutions: • Life Insurance for Business Owners • Key Person Insurance • Income Protection Plans for Critical Illness • Mortgage Insurance • Travel Insurance • Annuities for Retirement Planning ✔ Additional solutions through our partners: • Business Liability Insurance • General Business Insurance • Home & Auto Insurance |
| Employee Benefits | Can IFSG help my clients set up employee benefits for their staff? | ✔ Through IFSG and our partners, businesses can set up: • Group Health Benefits • Retirement Savings Plans (RRSP, TFSA, RESP options) • Employee Financial Wellness Programs |
| Retirement Planning | How does IFSG support business owners with retirement planning? | ✔ IFSG provides annuities for stable retirement income.✔ Our partners offer investment solutions such as RRSPs, RESPs, and TFSAs.✔ We assist with corporate investment strategies to optimize business and personal wealth. |
| Cash Flow & Investment Management | Can IFSG provide investment strategies for business owners? | ✔ Yes, through IFSG and our industry partners, we offer: • Business investment planning • Wealth accumulation strategies • Retirement income solutions |
| Credit-Building & Business Loans | How can IFSG help clients with credit and financing? | ✔ Through our partners, we provide: • Credit-building programs • Business financing options • Alternative lending solutions |
Compliance & Transparency
| Category | Potential Questions | Updated Response |
| Regulatory Compliance | How does IFSG ensure compliance with financial regulations? | ✔ IFSG strictly adheres to Canadian financial laws and industry regulations, ensuring all FS&R are compliant and trustworthy. |
| Client Data Protection | How does IFSG protect client information? | ✔ Client data is encrypted and securely stored in compliance with Canadian privacy laws, ensuring confidentiality and trust. |
| Revenue & Commission Transparency | How is revenue and commission calculated for referrals? | ✔ Revenue and commissions are based on successful client sign-ups, with clear monthly reporting and automated payout systems for transparency. |
Marketing & Business Growth
| Category | Potential Questions | Updated Response |
| Client Engagement Tools | What marketing and educational tools does IFSG provide? | ✔ Co-branded materials, settlement webinars, and client engagement tools to help consultants educate and support newcomers. |
| Referral Process & Business Growth | Will this partnership help me get more clients? | ✔ Yes! Satisfied clients will recommend your services, helping you grow your practice. |
| National & International Reach | Is this partnership available to accountants and bookkeepers across Canada? | ✔ Yes, IFSG operates nationwide, meaning professionals across Canada can offer these financial services to their clients. |
Additional Customization & Long-Term Value
| Category | Potential Questions | Updated Response |
| Custom FS&R Packages | Can IFSG create customized FS&R solutions based on my clients’ specific financial needs? | ✔ Yes, we work with each business to develop tailored financial strategies that align with their unique financial goals and industry-specific challenges. |
| Ongoing Industry Insights | How does IFSG stay up to date with financial trends affecting accountants and bookkeepers? | ✔ We continuously monitor financial regulations and industry trends, ensuring our FS&R remain compliant and relevant for Canadian businesses. |
Partnership Overview
| Category | Potential Questions | Updated Response |
| Understanding IFSG | What is IFSG, and how does it align with our accounting/bookkeeping services? | ✔ IFSG provides financial solutions and resources (FS&R) to help accountants and bookkeepers offer complementary financial protection, tax optimization, and investment strategies to their clients. ✔ Our services align with business growth, financial security, and wealth management needs. |
| Benefits of Partnership | What are the benefits of partnering with IFSG? | ✔ Expand services by offering FS&R alongside tax and financial planning. ✔ Enhance client value by providing additional financial security solutions. ✔ Increase business visibility and attract more clients. For Licensed Bookkeepers and Accountants: ✔ Licensed professionals sponsored by IFSG are eligible for full commission on referrals. ✔ Licensed bookkeepers and accountants who are not sponsored by IFSG qualify for a starting commission split of 20% of the First Year Commission (FYC). For Non-Licensed Bookkeepers and Accountants: ✔ Cannot split commissions with IFSG due to regulatory restrictions. ✔ Instead, IFSG can contribute to their marketing campaigns as a form of compensation for client referrals. ✔ IFSG can also donate to a nonprofit organization of their choice or to the nonprofit organizations supported by IFSG on their behalf. |
| Terms of Partnership | What are the terms of the partnership agreement? | ✔ The partnership is flexible, non-exclusive, and commission-based, with no upfront costs. For Licensed Bookkeepers & Accountants: ✔ Licensed professionals sponsored by IFSG are eligible to receive commission splits on referrals. ✔ An agreement form will outline the responsibilities of both IFSG and the business partner. ✔ The agreement includes guidelines on ethical behavior, ensuring mutual respect and professionalism. ✔ Business partners are expected to assist in promoting IFSG’s benefits and services. ✔ The agreement also details extension and termination conditions for transparency. For Non-Licensed Bookkeepers & Accountants: ✔ Non-licensed professionals are not eligible for commission splits due to regulatory restrictions. ✔ Instead, IFSG offers alternative compensation through: • Marketing bonuses to support their business growth. • Donations to a nonprofit organization of their choice or one supported by IFSG, made on their behalf. ✔ The partnership is designed to be seamless and simple, ensuring easy integration into existing services. |
| Training & Support | What support does IFSG provide to accounting and bookkeeping partners? | ✔ No training required—we keep the process simple and seamless. ✔ IFSG provides guidelines to clarify the partnership. ✔ Partners only need to introduce IFSG to their clients—no additional effort is required. ✔ IFSG provides all necessary information resources directly to clients. ✔ We ensure minimal disruption to existing operations, making integration hassle-free. |
Relevance to Accounting & Bookkeeping
| Category | Potential Questions | Updated Response |
| Industry Alignment | How does IFSG complement accounting and bookkeeping services? | ✔ We provide financial solutions that help accountants and bookkeepers support their clients with financial stability, risk mitigation, and tax efficiency. ✔ IFSG complements existing services by addressing business protection, investment planning, and wealth accumulation. |
| Client Benefits | How will my clients benefit from this partnership? | ✔ Clients gain access to financial protection, investment options, and business security solutions. ✔ IFSG provides essential financial services, while our trusted industry partners offer additional solutions. ✔ Clients receive comprehensive financial support beyond tax and bookkeeping. |
| Integration with Existing Services | How do we integrate IFSG services into our accounting and bookkeeping practice? | ✔ No additional training is required. ✔ Partners simply introduce IFSG to their clients, and we provide the financial resources. ✔ Designed for easy integration with minimal impact on existing operations. |
| Tax Optimization | Can IFSG help my clients with tax-efficient financial strategies? | ✔ IFSG’s financial solutions can be used for tax optimization. ✔ Additional services available through our partners: • RRSPs & RESPs • TFSAs • Corporate investment structures for tax efficiency. |
FS&R Solutions for Business Owners & Individuals
| Category | Potential Questions | Updated Response |
| Business Insurance | What kind of insurance solutions does IFSG offer for business owners? | ✔ IFSG-provided solutions: • Life Insurance for Business Owners • Key Person Insurance • Income Protection Plans for Critical Illness • Mortgage Insurance • Travel Insurance • Annuities for Retirement Planning ✔ Additional solutions through our partners: • Business Liability Insurance • General Business Insurance • Home & Auto Insurance |
| Employee Benefits | Can IFSG help my clients set up employee benefits for their staff? | ✔ Through IFSG and our partners, businesses can set up: • Group Health Benefits • Retirement Savings Plans (RRSP, TFSA, RESP options) • Employee Financial Wellness Programs |
| Retirement Planning | How does IFSG support business owners with retirement planning? | ✔ IFSG provides annuities for stable retirement income.✔ Our partners offer investment solutions such as RRSPs, RESPs, and TFSAs.✔ We assist with corporate investment strategies to optimize business and personal wealth. |
| Cash Flow & Investment Management | Can IFSG provide investment strategies for business owners? | ✔ Yes, through IFSG and our industry partners, we offer: • Business investment planning • Wealth accumulation strategies • Retirement income solutions |
| Credit-Building & Business Loans | How can IFSG help clients with credit and financing? | ✔ Through our partners, we provide: • Credit-building programs • Business financing options • Alternative lending solutions |
Compliance & Transparency
| Category | Potential Questions | Updated Response |
| Regulatory Compliance | How does IFSG ensure compliance with financial regulations? | ✔ IFSG strictly adheres to Canadian financial laws and industry regulations, ensuring all FS&R are compliant and trustworthy. |
| Client Data Protection | How does IFSG protect client information? | ✔ Client data is encrypted and securely stored in compliance with Canadian privacy laws, ensuring confidentiality and trust. |
| Revenue & Commission Transparency | How is revenue and commission calculated for referrals? | ✔ Revenue and commissions are based on successful client sign-ups, with clear monthly reporting and automated payout systems for transparency. |
Marketing & Business Growth
| Category | Potential Questions | Updated Response |
| Client Engagement Tools | What marketing and educational tools does IFSG provide? | ✔ Co-branded materials, settlement webinars, and client engagement tools to help consultants educate and support newcomers. |
| Referral Process & Business Growth | Will this partnership help me get more clients? | ✔ Yes! Satisfied clients will recommend your services, helping you grow your practice. |
| National & International Reach | Is this partnership available to accountants and bookkeepers across Canada? | ✔ Yes, IFSG operates nationwide, meaning professionals across Canada can offer these financial services to their clients. |
Additional Customization & Long-Term Value
| Category | Potential Questions | Updated Response |
| Custom FS&R Packages | Can IFSG create customized FS&R solutions based on my clients’ specific financial needs? | ✔ Yes, we work with each business to develop tailored financial strategies that align with their unique financial goals and industry-specific challenges. |
| Ongoing Industry Insights | How does IFSG stay up to date with financial trends affecting accountants and bookkeepers? | ✔ We continuously monitor financial regulations and industry trends, ensuring our FS&R remain compliant and relevant for Canadian businesses. |
Why This Update Matters
Footnote for Tables:
Definition of Licensed Business Partners:
| When we refer to licensed business partners, we mean individuals or businesses that hold a valid financial advisor license and are authorized to provide financial solutions. This includes, but is not limited to: |
| Non-licensed business partners may still participate in the partnership but are subject to regulatory limitations, including restrictions on commission splits. Alternative compensation methods, such as marketing bonuses or nonprofit donations, are available for non-licensed partners. |