Survey reveals key concerns of Canadian FA's clients
Housing costs, market swings, and the looming reality of retirement are keeping Canadians up at night.
Two thirds of financial advisors say their clients are more stressed about housing than they were five years ago, closely followed by anxiety over market volatility (63%) and retirement planning (44%), according to recent data from Edward Jones and Cerulli Associates.
But almost half of advisors are not recommending clients changing financial plans in response to current market or geopolitical uncertainty, advising them to stay the course and remain focused on the big picture.
“As advisors, our job isn’t just to help build a portfolio, it’s to provide calm in the chaos,” says Ryan McLellan of Edward Jones in Nepean, ON. “Volatility is part of the journey. We help clients stay focused on what really matters: their long-term goals.”
Even with rising concerns, most clients (65%) remain optimistic about their financial future, thanks in no small part to strong, trust-based advisor relationships.
Financial planning is becoming a bigger part of the advisor-client relationship with almost half (45%) of Canadian advisors now offering ongoing comprehensive planning and more expect to do so in the next two years. Advisors also say their “soft skills” such as trust, communication, and relationship-building, matter just as much, if not more, than technical qualifications.
“Every client defines success differently,” says Julie Petrera, Senior Strategist at Edward Jones Canada. “Our planning has to reflect that. It’s not a one-time conversation—it’s a journey we walk through together.”
One area where those conversations are evolving fast is wealth transfer with half of advisors saying that clients first reached out after receiving an inheritance. These discussions often go deeper than numbers and focus on values, legacy, and what clients want to teach the next generation about financial responsibility.
Tax planning, clear estate documents, and open communication are essential, according to advisors. The most common tools used for wealth transfer include investment or retirement accounts (78%), real estate (57%), and life insurance (68%).
