What exactly is the value of advice?

A snapshot of advice in Canada

Drawing on surveys of thousands of Canadians, researchers have crunched the numbers and concluded that advisors contribute to higher levels of wealth. Below are a few of the findings.

Advisor value infographic

Sources and notes

1 Investment Funds Institute of Canada (IFIC).

2 Canadian investors’ perceptions of mutual funds and the mutual fund industry 2013, IFIC/Pollara. Eighty-one percent – this level of investor confidence in mutual funds is higher than for any other investment except for their homes (82%). Fewer express confidence in GICs (65%), stocks (61%) or bonds (57%).

3 New evidence on the value of financial advice, Dr. Jon Cockerline, Ph.D./IFIC.

4 The value of advice report 2012 (IFIC). Investors who purchase financial advice are more than one-and-a-half times more likely to maintain a long-term investment strategy compared to investors who do not purchase financial advice. Those who met with a financial advisor report greater retirement confidence and significantly higher levels of emergency funds.