TORONTO, Jan. 24, 2022 /CNW/ - Results of the Scotia
Global Asset Management (Scotia GAM) Investor Sentiment survey,
released today, indicate that 32% of those surveyed are more
concerned about their ability to fund their retirement than a year
ago, and 45% say the COVID-19 pandemic has impacted their
retirement plans. These findings are in line with Scotiabank's
annual Worry Poll, released last month, which revealed that 75% of
Canadians are worrying about their finances.
However, the Investor Sentiment survey also found that
confidence levels are boosted when working with a financial advisor
– 87% of Canadians who met with an advisor in the past six months
said their advisor makes them feel confident that their investments
will be OK, compared to 67% who did not meet with an advisor.
"These results indicate that while investors are concerned about
meeting their retirement goals, regular meetings with financial
advisors significantly alleviate those concerns. In a continually
changing environment, the value of advice prevails," says
Neal Kerr, Head, Scotia Global Asset
Management (Canada).
The survey also finds that among those who met with their
advisor in the past six months:
- 86% say their advisor keeps them on track to meet their goals,
regardless of market changes
- 76% believe they are better off financially than if they
managed their money on their own
Six in ten (60%) investors who work with an advisor feel
additional assistance and communication from their advisor would
help them feel even more confident, the survey found.
"Our purpose is to enrich our clients' financial futures with
outstanding investment solutions delivered in partnership with
comprehensive wealth advice. Canadian investors are craving this,
as the survey results attest, and we are confident that the depth
and breadth of advice they receive will continue to grow," adds Mr.
Kerr.
About the Investor Sentiment Survey
The Scotia Global Asset Management Investor Sentiment survey was
conducted by Environics Research from November 2-11, 2021. The online survey included
1,029 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
approximately 90,000 employees and assets of approximately
$1.2 trillion (as at October 31, 2021), 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
@ScotiabankViews.
SOURCE Scotiabank