Inflation remains a major concern for millions of Canadians but financial advisors are playing an essential role in easing the pressure
Yet more proof that financial advisors are worth their weight in gold to the millions of Canadians that are finding things tough right now.
A new study released this week by Manulife highlights the importance of having a plan and how working with a financial planner reduces financial stress significantly compared to those that try to struggle on alone.
More than six in ten Canadians admit they would have no financial plan if it was not for their advisor or believe that their mental health has improved, thanks to their advisor.
More than two thirds think they are better off financially than they were prior to retaining the services of their financial advisor.
The Manulife Bank of Canada Financial Health Survey found that Millennials and Gen Xers are the most likely to feel worried about affordability in Canada, while all age groups are feeling the challenges of living expenses and mortgage rates.
Again, working with an advisor makes a big difference with Gen Zs saying doing so turns financial negatives into financial positives, and Boomers most likely to say they get good financial advice.
