Only 3% of Canadians who use financial advisors were dissatisfied with the services they received last year, finds a survey by Hennick Wealth Management. Those results are almost identical to the survey in 2016.
There was one important area where Canadians did see some change—they now know what their advisors personally invest in. In the first poll, only 26% of respondents had some idea what their advisors invest in, and 57% of respondents hadn’t even thought to ask. A year later, 33% of respondents know what their advisors are invested in, and 48% were too shy to ask.
Here are some additional findings.
- 37% work with an advisor and are extremely satisfied.
- Women are more likely than men to say they have not asked their advisors about their own investments (54% vs. 43%).
- Accountants and financial planners were among the most trusted professions, at 61% and 60%, respectively.
About the survey: This online survey was conducted among 1,030 adults from Aug. 26 to Aug. 31, 2017 by the Environics Research Group.