KPMG finds that the value clients find goes beyond numbers
More than half of Canadians now rely on a financial planner to shape their financial future, yet a significant 45 percent either lack a plan or choose to manage their finances without professional advice.
This divide is not just a statistic—it signals a critical opportunity for those who guide Canadians through life’s financial decisions.
KPMG’s 2025 Financial Planning Survey reveals that peace of mind is the primary motivator for engaging in financial planning across all demographics.
Canadians are not simply seeking investment returns; they want clarity, reassurance, and guidance as they navigate changing circumstances and major life milestones.
The survey shows that 96 percent of respondents recognize the value of having a plan to reach their financial goals, but uncertainty about the value of professional advice remains a barrier for many.
Personalization stands out as a universal expectation.
Sixty-four percent of Canadians say it is “extremely important” that their financial plan reflects their unique circumstances, risk tolerances, and life stages.
This desire for tailored advice is especially strong among Baby Boomers (69 percent), Gen X (65 percent), and Young Investors (59 percent).
Over 80 percent of respondents expect their plan to include specific steps, timelines, and reliable projections, not just generic strategies.
The human element remains essential.
While technology is reshaping the financial planning landscape, only 27 percent of Canadians prefer self-service options.
A significant 43 percent want to work directly with a financial advisor, and another 30 percent favour a hybrid approach that blends personalized, human advice with digital tools.
In-person meetings are still preferred by 54 percent of respondents, though 46 percent are open to virtual or digital alternatives, indicating a growing appetite for flexible engagement.
Generational differences offer further insight.
Young Canadians (25-45) represent the largest cohort without professional planning, with 64 percent lacking a formal plan or managing finances independently.
For this group, peace of mind, planning for risks, and supporting family are key priorities.
Gen X (46-60) is split between those with and without a professional plan, with complex priorities spanning education, caregiving, and retirement.
Baby Boomers (61-79) are the most engaged, with 66 percent having a formal plan and 82 percent expressing confidence in their ability to retire.
Wealth also shapes engagement.
The adoption of financial planning services increases with wealth: 23 percent of Mass Retail investors, 62 percent of Mass Affluent, and 68 percent of High-Net-Worth individuals work with a financial planner.
Confidence in retirement rises alongside engagement, yet peace of mind and personalization remain prized across all wealth bands.
The findings point to a clear path forward: Canadians want financial planning that is accessible, personalized, and responsive to their evolving needs.
