We asked three clients
Advisors looking to fine-tune their value propositions might do well to focus on client education. That’s because, with the rise of online investing platforms, more clients say they want to better understand investing. “Digital solutions have transformed traditional investing and redefined who can invest online, yet some still feel intimidated by having to decide what […]
Plus, they share how they're making a difference for others in the industry
A recent report that highlights differences between men and women when it comes to investing seems to raise as many questions as it answers. Mylo Financial Technologies finds that women’s financial goals are 52% smaller than men’s: on average, women’s financial goal value is $24,842, compared to $47,810 for men. The reason for the discrepancy […]
Many of your clients likely struggle with finances, but women, in particular, might be having a hard time. A survey commissioned by Financial Planning Standards Council (FPSC) finds that 86% of Canadian women struggle with at least one issue when it comes to finances, including: knowing “very little” about finance and investment (38%); and depending […]
Nearly three-quarters of Canadians (73%) consider themselves at least somewhat knowledgeable.
If you spend a lot of time educating clients, that might be because Canadians’ financial literacy leaves a lot to be desired. In a poll from the Angus Reid Institute, most Canadians presented with a list of 18 common banking and finance terms said they were “very confident” in the meaning of only two: savings […]
Younger demographic is serious about savings goals
Ahead of Budget 2018, the House of Commons finance committee conducted consultations to hear suggestions to improve productivity and competitiveness. Suggestions are summarized in a report, which lists 92 recommendations. Here are highlights: Enhance existing financial literacy programs. Particular attention should be paid to the needs of specific demographic groups. Read: What young clients don’t […]
Your younger clients need help to understand their finances. A whopping 82% of young Canadians (18 to 34) feel they don’t have enough financial knowledge or investing smarts, a 2015 CIBC report revealed, while an August 2017 report from Moody’s Investor Service finds that Canadians owe $1.69 for every dollar of disposable income. Household debt […]