TORONTO, Nov. 24, 2022 (GLOBE NEWSWIRE) — The Investment Funds Institute of Canada (IFIC) today released its Financial Advice in Canada report. The report provides an overview of advice in Canada and what it means to investors, with a focus on research demonstrating the quantitative value of advice.
“There is a growing body of research in Canada and across the globe that underscores the measurable value of advice to the investor,” said Paul Bourque, President and CEO, IFIC. “Long-tenured financial advice helps foster more disciplined saving behavior and builds resilience in investors to help them withstand shocks and grow their wealth over time.”
The report covers: the advice landscape; advice and the modest investor; trust and satisfaction with advice; value of advice research from Canada and around the world; the economic benefit of advice; and the future of advice.
Retail investments in Canada, which include investment funds, managed accounts and securities holdings, account for more than $4.7 trillion in financial wealth, held across 16.5 million households. Of this, approximately 71% were advised.
The Investment Funds Institute of Canada is the voice of Canada’s investment funds industry. IFIC brings together approximately 150 organizations, including fund managers, dealers, professional and back-office service providers, to strengthen the integrity of the investment funds industry, foster public confidence in investment funds, and enable investors to achieve good outcomes. By connecting savers to Canada’s economy, our industry contributes significantly to Canadian economic growth and job creation.
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