lazare financial services

What lazare financial services does

Lazare Financial Services Inc. is an independent insurance brokerage and financial advisory firm founded in 1995 and headquartered in Kelowna, British Columbia. The firm is led by principal broker Ric Lazare, who brings over 20 years of experience operating businesses in the Okanagan Valley, and operates from offices at 101-565 Bernard Ave. and 110-565 Bernard Ave. The practice serves individual clients, families, professionals, and small-to-mid-market employers primarily across the Okanagan Valley and broader British Columbia.

The firm's product portfolio spans term and whole life insurance, critical illness insurance, disability insurance, no-medical life insurance variants, group benefits for employers, Health Care Spending Accounts for incorporated business owners, and registered plan administration (RRSP, RESP, TFSA, segregated funds). Technology consists of an online collaborative financial planning tool used to identify, prioritize, and address gaps in client financial plans, complemented by online financial calculators, term life quote requests, and HSA enrollment forms hosted on the company's Wix-based website.

Revenue is generated via commissions on insurance products sold through multiple carrier relationships, fees from group benefits administration, and professional services fees from registered plan and HSA management. The go-to-market motion is sales-led and direct-to-consumer, relying on personal relationships, referrals from professionals and existing clients, complimentary consultations, and online self-service tools. There is one referral partnership with iKnowAGuy.ca for lending and mortgage broker services, and no disclosed institutional ownership, funding rounds, or headcount beyond the principal broker model.

Name

lazare financial services

Legal name

Lazare Financial Services Inc.

Website

https://lazarefinancial.com

Company type

Private

Founded year

1995

Operating status

Operating

Short description

Lazare Financial Services is an independent insurance brokerage and financial advisory firm in Kelowna, British Columbia, serving individual clients and small-to-mid-market employers across the Okanagan Valley with life, disability, critical illness, group benefits, and registered plan products on a commission basis.

Ownership category

akta.pro rank

Product category

Insurance Brokerage and Financial Advisory

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210), Direct Life, Health, and Medical Insurance Carriers (52411)

SIC

Insurance Agents, Brokers & Service (6411), Life Insurance (6311), Accident & Health Insurance (6321)

akta.pro primary industry

Whole Life Insurance (FSAIABAA)

akta.pro secondary industries

Standalone Critical Illness Insurance (FSAIAKAA), Business Overhead Expense (BOE) Disability Insurance (FSAIAIAJ), Trust, Fiduciary & Estate Planning Services (FSABADAG)

Keywords

• Life insurance brokerage
• Employee benefits advisory
• Financial planning services
• Disability insurance advisory
• Retirement savings plans

Headquarters

HQ city

Kelowna

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Products: Commission-based revenue from sale of insurance products including term life insurance, whole life insurance, critical illness insurance, disability insurance, and group benefits. Products are offered from multiple insurance providers through independent brokerage relationships.
2. Group Benefits and Employee Benefit Programs: Provides comprehensive employee benefit programs for employers including Group Life Insurance, Short/Long Term Disability, Extended Health Care, Dental, and other benefits. Revenue generated through commissions on group insurance plans.
3. Registered Plans Administration: Administration and management of Registered Retirement Savings Plans (RRSP), Registered Education Savings Plans (RESP), and Tax-Free Savings Accounts (TFSA). Revenue from advisory fees and/or product commissions.
4. Health Spending Account (HSA) Services: Provides Health Spending Account administration services for business owners. The HSA is a CRA-approved method providing medical, dental, and vision benefits in a tax-efficient manner.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Lazare Financial Services is an independent financial planning and insurance brokerage that sells life insurance (term, whole, no-medical), critical illness and disability insurance, group employee benefits, segregated funds, and Canadian registered savings plans (RRSP, RESP, TFSA), as well as Health Care Spending Accounts for incorporated businesses. Offerings are sourced from multiple Canadian insurers and delivered through direct advisory consultations and online self-service tools to individuals, families, and business owners across British Columbia.

Product overview

Lazare Financial Services offers a comprehensive suite of financial and insurance products through its independent advisory platform. The core offerings include term and whole life insurance, critical illness insurance, disability insurance, and group benefits for employers. The company also provides tax-advantaged savings vehicles including RRSPs, RESPs, TFSAs, and segregated funds. Additional services include Health Care Spending Accounts for incorporated businesses, financial calculators, and online quote tools. The product portfolio is positioned for individual, family, and business client segments throughout the Okanagan Valley region.

Differentiator

Problem solved

Functional benefit

Products and services

• Term Life Insurance

Quantifiable outcome

• Tax-deductible expenses for corporations using Health Spending Accounts (100% of HSA costs writeable for corporations)
• +2 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• iKnowAGuy (Lending and Mortgage Broker Referral)minorOthersThe firm refers clients to iKnowAGuy.ca for lending and mortgage broker services. This is a referral relationship where Lazare Financial Services directs clients needing mortgage or lending services to this partner.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Manulife Insurance: Major Canadian life and health insurer with a captive advisor network selling term/whole life, group benefits, RRSPs, and segregated funds, overlapping Lazare's core product portfolio but at vastly greater scale.
• Sun Life Financial: Large Canadian insurer offering individual life, health, group benefits, and wealth products through its advisor channel, directly competing for the same clients and product categories that Lazare serves.
• Co-operators: Canadian insurance and financial services cooperative distributing life, group benefits, and investment products through advisors, providing comparable individual and group coverage options.
• Canada Life: Major Canadian life insurer and wealth manager with a national advisor force distributing individual insurance, group benefits, and investment products, overlapping substantially with Lazare's offering set.
• IG Wealth Management: Canadian wealth and financial planning firm with a national advisor network offering insurance, retirement, and investment solutions to individuals, competing for the same financial planning wallet share.
• Wawanesa Life: Canadian mutual insurer selling life, disability, and group products through agents, comparable to Lazare's life and disability insurance distribution.

Direct peers

• BrokerLink: Canadian insurance brokerage operating through local branches selling personal and commercial insurance, very comparable to Lazare's role as a multi-line independent broker serving individuals and small businesses in a defined region.
• Hub International: Large North American insurance brokerage that distributes life, group benefits, and commercial insurance products through independent advisors and offices, closely matching Lazare's independent broker distribution model across multiple product lines.
• Edward Jones (Canada): Operates a large network of independent financial advisors in Canada offering insurance, investments, and financial planning to individuals and families, matching Lazare's advisor-led, relationship-based service model.

Emerging players

• Sonnet Insurance: Digital-first Canadian insurance provider selling term life and other products online, representing the direct-to-consumer competitive threat to traditional advisors like Lazare for standardized insurance products.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about lazare financial services