Canadians increasingly see their health and finances as intertwined, but lack the plans and professional support to act on that understanding
New global research from Sun Life Financial Inc. (TSX: SLF) points to a significant and growing gap between what Canadians want from their financial advisors and what they currently have in place.
The survey, Sunlife's largest global study of its kind, polled adults aged 18 and over across eight markets in North America and Asia. In Canada, the total sample included 1,599 respondents, with additional oversamples of younger investors and higher-net-worth individuals aged 45 to 74.
The headline finding (across all markets surveyed) is that 65 per cent of those surveyed said they want support that treats their health, finances, and protection as connected needs rather than separate ones - but the data suggests many clients have yet to find that kind of support.
The preparedness gap advisors should not ignore
More than half of respondents said managing their finances (52 per cent) and health (51 per cent) is more complicated now than it was five years ago. That complexity is translating into real planning shortfalls across nearly every category the research examined.
While 61 per cent of those surveyed said protecting against the costs of an unexpected illness or accident is very important to their sense of preparedness, only 33 per cent have a full plan in place. A similar gap exists around family protection: 60 per cent view securing their family's future as very important, yet just 31 per cent have a comprehensive plan.
The gaps widen when caregiving and retirement come into focus. Fifty-seven per cent of respondents said having the financial means to care for an aging or sick family member is very important, but only 27 per cent have a full plan. On retirement, 56 per cent consider having the retirement they want as very important, while only 31 per cent have a complete plan in place.
For advisors working with clients who are navigating both retirement transitions and evolving health needs these figures underscore the scale of unfinished planning work sitting across Canadian households.
Confidence and clarity are the missing ingredients
The research suggests the barrier to action is less about motivation and more about complexity. Seventy-one per cent of respondents said they would feel more confident about their future if managing their finances were simpler, while 75 per cent said access to trustworthy financial planning advice would increase their confidence.
That finding speaks directly to the opportunity advisors have to differentiate their practice. When clients struggle to connect the dots between their health costs, their savings, and their protection needs, a professional who can do that connecting becomes far more valuable than one who manages investments alone.
The legacy planning data reinforces the point. Fifty-nine per cent of respondents said leaving a secure financial future for their family is very important. However, only 37 per cent have designated account or insurance beneficiaries, 26 per cent have drafted a will, and just 24 per cent have met with a financial advisor.
That last number - fewer than one in four respondents having met with an advisor - is a significant opportunity. As this year's Wealth Professional Award winners demonstrated, holistic advisors who bring estate planning, tax strategy, retirement income, and health planning into a single conversation are the ones clients are seeking out.
What this means for advisors
Kevin Strain, President and Chief Executive Officer of Sun Life, said the findings point to a clear client need: "Helping people close the gap between intention and action is at the heart of our Purpose of helping Clients build lifetime financial security and lead healthier lives."
Chris Hewitt, Senior Vice-President and Global Chief Client Experience and Marketing Officer at Sun Life, added: "People know what matters to them. We make it easier for them to act. By bringing more of Sunlife together around each Client, we can help connect the different parts of their lives and give them greater clarity and confidence to move forward."
The research was released alongside Sun Life's unveiling of a refreshed global brand, including a new tagline - "Making life brighter" - intended to reflect the company's direction toward more integrated client support across health, wealth, and protection services.
The research was conducted in September 2026 by Earnscliffe on behalf of Sun Life, using online panels from Leger and Prodege.
For Canadian advisors, the practical message from this data is clear. Clients are not failing to act because they lack ambition for their futures. They are failing to act because the path forward feels complicated, and they have not yet found a guide they trust to simplify it.
Understanding the connection between financial advice and client confidence is something Sun Life itself has long advocated and this new research gives the argument fresh, quantified weight.
Advisors who can position themselves as that trusted, integrated resource bringing health, wealth, and protection into a single, coherent conversation.
