Those who worked with a financial advisor were 20 points more likely to feel in control of their future
Only 12 percent of Canadians are financially fulfilled, even as nearly half say gratitude is the emotion they feel most when thinking about money
A new Edward Jones and Gallup study, Money and Meaning: Understanding Financial Fulfillment, surveyed 2,117 Canadian adults and found three distinct groups: financially fulfilled (12 percent), conflicted (47 percent) and financially stressed (41 percent).
Stress ranked as the second most commonly reported emotion at 38 percent.
The study defines financial fulfillment as a state where finances feel aligned with what matters most to a person — encompassing not just security, but freedom, confidence, and forward momentum.
Short-term financial goals are crowding out long-term planning.
More than half of respondents (52 percent) said income for a healthy lifestyle is a high priority, followed by increasing household income (47 percent) and reducing debt (46 percent).
Saving for retirement ranked lower at 44 percent, and saving for a home trailed at just 21 percent.
A quarter of respondents said they are making significant financial sacrifices to cut expenses.
Penny Pennington, managing partner at Edward Jones, said short-term financial pressures can pull Canadians away from their longer-term priorities.
A plan and a trusted partner, she added, shifts money "from tradeoffs" to supporting the life people want to live.
Self-guided internet research was the most widely used source of financial guidance over the past year, with 59 percent of Canadians turning to it, compared to 43 percent who consulted a financial advisor.
Despite the gap in usage, financial advisors remained the most trusted source of guidance, with 76 percent of Canadians expressing confidence in their expertise, against 64 percent for relatives or family members.
Those who worked with an advisor reported meaningfully better outcomes: 90 percent felt confident managing their current financial needs, versus 70 percent of those who did not.
Similarly, 82 percent of advisor users said they feel in control of their financial future, compared to 60 percent among non-users.
David Gunn, principal and head of Canada and US business units at Edward Jones, said guidance helps people understand their options, build a plan around short- and long-term goals, and stay on track "with greater confidence and control."
