Nearly a third of Canadians are worried about their ability to finance their retirement

A full 32% of Canadians are more worried this year about not being able to fund their retirement, compared to last year, and 45% say COVID-19 has impacted their retirement plans, according to a Scotiabank survey.

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The poll results, released Monday, show that 87% of Canadians who have consulted an advisor in the past six months say they are confident about their investments. By way of comparison, this rate reached only 67% among those who had not met their adviser.

“These results indicate that investors’ concerns about their retirement goals decrease significantly when they meet regularly with their advisor. In today’s ever-changing environment, the value of advice trumps everything,” said Neal Kerr, Head of Canadian Network, Scotia Global Asset Management.

No less than 76% of respondents believe they are in a better financial position than if they managed their own money.

In fact, six out of ten savers who do business with an advisor believe that increased communication and assistance would give them even more confidence.

The Scotia Global Asset Management Investor Confidence Survey was conducted online, among 1,029 adult Canadians, between November 2 and November 11, 2021.

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