IFIC and Pollara Release 2022 Canadian Mutual Fund and ETF Investor Survey

The Investment Funds Institute of Canada
The Investment Funds Institute of Canada

Majority of investors feel advice received from an advisor is worth fees paid

TORONTO, Oct. 03, 2022 (GLOBE NEWSWIRE) -- The Investment Funds Institute of Canada (IFIC) and Pollara Strategic Insights today released the results of their annual Canadian Mutual Fund and Exchange-Traded Fund Investor Survey. The annual survey has tracked Canadian investor sentiments and behaviour since 2006.

The survey this year expanded its focus on the value of advice and investor responses to annual fee and performance statements and added a component investigating the impact of inflation on saving and investment. The survey also had additional questions relating to responsible investing, including perceived impact on returns, sources of information, and interests in specific focus areas.

“The Pollara investor survey has become an increasingly valuable tool to test regulatory assumptions about the value of advice and to better understand how investors view advice,” said Paul Bourque, President and CEO, IFIC. “We are particularly pleased to see that the vast majority of investors feel that the advice they receive is worth the fees, and that investors feel more confident about reaching their investment goals when using a financial advisor.”

“This survey gives us the opportunity to learn about how investors respond to the ever-evolving economic environment,” said Lesli Martin, Vice President, Pollara Strategic Insights. “In a year of rising inflation, it was particularly interesting to learn more about how investors have reacted and responded.”

This year, the survey moved to an online-only format. The samples for the 2022 survey were 4,045 MF investors and 1,503 ETF investors.

Key Findings:

  • For mutual fund investors, confidence their product will help them achieve financial goals is at 88%, and for ETF investors, confidence is at 91%.

  • Nine in ten mutual fund and ETF investors are satisfied with their advisors.

  • Eight in 10 mutual fund investors agree that advice is worth the fees and they would not want to handle investments on their own, an increase by two and three points respectively.   Seven in 10 ETF investors would not want to handle investments on their own, an increase by seven points.

  • 80% of mutual fund investors and 73% of ETF investors believe that they get a better return on investments due to their financial advisor.

  • 84% of mutual fund and 78% of ETF investors feel more confident that they will reach their investment goals when using a financial advisor.

  • Two-thirds of investors remember receiving their annual fee and performance (CRM2) statements, and 56% of mutual fund investors and 63% of ETF investors report reading their statements.

  • 25% of investors currently own responsible investments, and a majority who do not currently own responsible investments report they may include these investments in their portfolio in the future.

  • Inflation has had an impact on investing with half of investors saying they are investing less than usual

To access the full survey, please visit IFIC.ca or pollara.com.

About IFIC

The Investment Funds Institute of Canada is the voice of Canada’s investment funds industry. IFIC brings together approximately 150 organizations, including fund managers, dealers, professional and back-office service providers, to strengthen the integrity of the investment funds industry, foster public confidence in investment funds, and enable investors to achieve good outcomes. By connecting savers to Canada’s economy, our industry contributes significantly to Canadian economic growth and job creation. To learn more about IFIC, please visit www.ific.ca.

About Pollara Strategic Insights

Founded in 1980, Pollara Strategic Insights is one of Canada’s premier full-service research firms – a collaborative team of senior research veterans who are passionate about conducting research through hands–on creativity and customized solutions. Taking full advantage of their comprehensive toolbox of industry-leading quantitative and qualitative methodologies and analytical techniques, Pollara provides research-based strategic advice to a wide array of clients across all sectors on a local, national, and global scale.

For more information, please contact:

Pira Kumarasamy
Senior Manager, Communications and Public Affairs
pkumarasamy@ific.ca
416-309-2317

Lesli Martin
Vice President, Public Affairs
Pollara Strategic Insights
leslimartin@pollara.com
416-921-0090 ext. 2207