Clients want you in-person or on the phone IFIC survey reveals

Annual survey shows that their knowledge of investing in the asset classes is high

Clients want you in-person or on the phone IFIC survey reveals
Steve Randall

We’ve all become accustomed to meetings on Zoom and other video platforms over the past 18 months, but Canadian investors are keen to get back to previous methods of communicating with their advisors.

A survey of investors in mutual funds and exchange-traded funds (ETFs) reveal high levels of satisfaction with the advice given to them by their financial advisors (96% for mutual funds, 98% for ETFs).

But, while overall communication has been good during the pandemic, with 52% of mutual fund investors and 70% of ETF investors connecting with advisors on video platforms, most want to return to in-person or telephone conversations. 

The latest annual Canadian Mutual Fund and Exchange-Traded Fund Investor Survey from IFIC and Pollara, also found historically high levels of knowledge about investing in mutual funds and ETFs with 85% of mutual fund investors stating they believe they are somewhat to very knowledgeable about investing in those funds. There was a similar stat for ETF investors.

There were significant increases in satisfaction with CRM2 statements in 2021 for both mutual fund and ETF investors.

Activity boost

The survey asked whether investors’ ability to save had been impacted by the pandemic with around half of each group (mutual and ETF investors) reporting no impact and around one third of all respondents saying they were able to save more.

Both investor groups tend to have more than one product type, but ETF investors are likely to have a more diverse portfolio than mutual fund investors.

Both groups have also become more interested in responsible investing and one-third of mutual fund and two-fifths of ETF investors hold these funds in their portfolio, up sharply from one quarter a year ago.

“IFIC and Pollara have continued to adapt the survey to explore the new issues that matter to Canadian investors, which ultimately helps the industry better understand their needs,” said Paul Bourque, president, and CEO, IFIC. “This year, it was particularly interesting to learn that more investors were asked by their advisors about their interest in responsible investing.”