Canadian investors demonstrate high levels of trust in their advisors, says IFIC president and CEO Joanne De Laurentiis.

Read: 14 ways to reel in clients

That’s why more than half (51%) support the current dominant model of embedded fees in Canada, reveals the organization’s recent research.

In contrast, 41% of clients would prefer direct payments to their advisors—though only 16% would stay with their advisors if this meant higher fees.

Read: How much do you make?

“Research conducted in the U.S. shows the shift to direct-fee payments…has resulted in higher fees for many investors,” says Ms. De Laurentiis. “Given what we know about the benefits of advice, we need to take note of these consequences and proceed cautiously when considering regulatory policy.”

Read: You earn what you make

The research also looked at what products investors favour. Mutual funds lead the way (81%) currently, but they’re followed by GICs (65%), bonds (61%), stocks (57%) and ETFs (33%).

People also stressed they like to be given several investment choices, and revealed they prefer to receive information about potential fund purchases from their advisor. This information can be related directly (83%), or through newsletters (63%) and websites (55%).

Read the full survey.

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