The vast majority of people who work with advisors (96%) say the advice they receive is valuable, according to an Advocis national survey.
The survey also examines the level of satisfaction clients have with the array of services they receive and the fees they pay. When asked about fees, in particular, 88% of respondents indicated they’d prefer that the government allow them to choose between paying an hourly fee, an embedded fee or a percentage of assets under management.
“Canadians value their financial advisors and don’t want that relationship disrupted,” says Greg Pollock, president and CEO of Advocis. “If a ban on commissions is successful, as some are calling for, we [could] see a sharp decline in access to professional advice because those who need it most won’t be able to afford it.”
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