Four in five financial advisors (83%) say high inflation is the main concern for their clients this year.
Portfolio value is the second biggest concern, with 68% of advisors saying this is a key concern for their clients.
Canada Life’s survey found that despite the difficult economic environment, concerns about a recession were far down the customer’s list of concerns, with only 37% mentioning financial issues.
Retirement income generation, and CGT and dividend tax changes, are of little concern, with advisors saying that about 1 in 4 clients have concerns in these areas (each 26% and 25%).
Sherry Greenwood, Head of Wealth Proposals for Canada Life, said:
“Client portfolios are not insulated from broader geopolitical and macroeconomic headwinds. It’s the place to do it.”
• Canada Life surveyed 149 financial advisors in January.