Majority of Canadians surveyed want access to financial products and services from one place
C
anadian investors say they value access, flexibility and personalization in the financial advice they receive.
They also want to access a range of financial products and services without having to go to different providers or open new accounts - and nearly three-quarters say they need that advice to come from a human.
These results are from a national survey from the Investment Industry Regulatory Organization of Canada (IIROC). Together with The Strategic Counsel, IIROC surveyed more than 2,000 current investors as well as aspiring investors- or those who are interested in but are not currently investing. The majority said access means getting advice when and how they want it, through a single point of contact- preferably a human.
HIGHLIGHTS OF FINDINGS:
Access:
86% of current investors and 68% of aspiring investors:
said it is important to access a range of financial products and services without having to go to different providers or open new accounts
90% of current investors and 71% of aspiring investors:
want access to the financial advice they need and want, when they need and want it
Flexibility:
90% of current investors and 69% of aspiring investors:
said it is important that the advice they receive is flexible to meet their changing needs and circumstances
Personalization:
91% of current investors and 69% of aspiring investors:
said it is important that the advice they receive is personalized to their goals and needs
Yet only 40% of current investors and 30% of aspiring investors:
consider online advice, based purely on the information they provide, to be personalized
48% of current and 45% of aspiring investors:
said they want the advice to consider the needs of their immediate family
Human element:
74% of current investors and 62% of aspiring investors:
said they need financial advice to come from a human
The percentage of Canadian investors who say it is important that advice be delivered by a human increases with age: 82% of seniors (those aged 65 and above) value advice from a human.
How investors can strengthen their financial literacy:
To learn more about how to choose an investment advisor, or for tips and information about investing, visit IIROC's Investor Resource Centre.
IIROC is committed to investor protection and helping Canadians become more informed investors. IIROC works with various organizations across the country that are also committed to supporting investor protection, investor education and financial literacy. IIROC has provided more than $6.8 million in support of such initiatives over the past decade.
✔️ Majority of Canadians surveyed want access to financial products and services from one place
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