(November 24 – 18:15 ET) – A poll conducted this summer for the Financial Planners Standards Council shows that Canadians believe planning is important to help them meet retirement goals, achieve life goals, and to make sure they can send their kids to school.
However, only 40% say they have plans, and 25% of those are do-it-yourself jobs.
Of those that do have plans, apart from the 25% DIY, 32% used a professional planner, 15% used a banker, and just 11% went to stockbrokers.
Planners are sought most frequently when people have kids, get married or divorced, or buy a house. Referrals were the most common way of finding a planner. 77% want planners who can write up the plan and then help implement it.
The financial industry is the most popular source of planners – 49% find advice there. Most believed that planners are regulated, but 77% couldn’t name a designation.
Performance is key. Respondents said that rate of return was the most important indicator of a plan’s success, followed by the sense of control they feel, and their perceived progress toward goals.
Respondents gave their planners an 8.9 out of 10 for overall satisfaction.
IE Staff
For the full survey results go to: