TORONTO, March 2,
2023 /CNW/ - Canadians are feeling the pressure of
the current economic climate on their investments – but
professional advice and a financial plan provide a significant
confidence boost.
Results of the Scotia Global Asset Management Investor Sentiment
survey, released today, indicate that 55% of those surveyed say
their retirement plans have been impacted by current economic
conditions. Nearly 6 in 10 (59%) surveyed feel negative about their
investments, up from 33% in the Fall 2021 survey.
These findings are in line with Scotiabank's fourth annual Worry
Poll, which reveals that Canadians are worrying more about their
finances compared to last year.
The good news is that meeting with a financial advisor can boost
confidence – the Investor Sentiment survey found that 86% of those
who have met with their advisor in the past 6 months say they feel
confident in their ability to fund their retirement.
Having a financial plan as well as meeting with an advisor
increases those feeling confident to 95%. However, only 26% of
those surveyed have a written financial plan.
"These results indicate that investors have current concerns
about meeting their retirement goals; however, regular meetings
with financial advisors and having a written financial plan
diminish those concerns," says Neal
Kerr, Head, Scotia Global Asset Management.
"Our focus – to enrich our clients' financial futures with
outstanding investment solutions delivered in partnership with
comprehensive wealth advice – becomes even more important during
challenging market conditions, as the survey results attest," adds
Mr. Kerr.
About the Investor Sentiment Survey
The Scotia Global Asset Management Investor Sentiment survey was
conducted by Environics Research from January 4-10, 2023. The online survey included
1,022 Canadians, 25 years of age or older with household investable
assets of $25,000 or more and who
participate in investments decisions for their household. The data
was weighted by age, gender and region and household
investable assets to reflect the population.
About Scotia Global Asset Management
Scotia Global Asset Management includes 1832 Asset Management
L.P., a limited partnership, the general partner of which is wholly
owned by Scotiabank. Scotia Global Asset Management offers a range
of wealth management solutions, including mutual funds, ETFs,
and investment solutions for private clients, institutions and
managed asset programs.
About Scotiabank
Scotiabank is a leading bank in the
Americas. Guided by our purpose: "for every future", we help our
customers, their families and their communities achieve success
through a broad range of advice, products and services, including
personal and commercial banking, wealth management and private
banking, corporate and investment banking, and capital markets.
With a team of over 90,000 employees and assets of over
$1.3 trillion (as at January 31, 2023), Scotiabank trades on the
Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange
(NYSE: BNS). For more information, please visit
http://www.scotiabank.com and follow us on Twitter @Scotiabank.
SOURCE Scotiabank