Approximately half of Canadian investors surveyed expressed a high level of trust in the financial services industry and 70% of eligible investors believe state-sponsored pension programs will pay out benefits as promised. In addition, significantly more Canadian investors are worried about an impending financial crisis within the next three years than in 2018.
Although there is trust in the system and fear about ongoing market stability, an overwhelming majority of investors still believe they have a fair opportunity to profit by investing in capital markets.
Investors continue to value access to people over technology to manage investments and overwhelmingly trust human advice over that of robo-advisers. Very few Canadian investors said that they were willing to invest in a fund that used artificial intelligence for its selection process. This indicates a distrust of or lack of knowledge about technology-based investment solutions.
When looking to hire a firm, Canadian investors prefer people they can count on over a trusted brand. When changing investment professional or firm, investors’ top considerations are the level of performance, fees, communication, and data security. Advisers would do well to provide more personalized products as a vast majority of investors want them, although less than half of those would be willing to pay more for them.