Most Canadians still value professional advice even as DIY tools gain ground
Canadian investors are leaning into a more complex and diversified marketplace, but financial advisors continue to hold a trusted position in guiding those decisions, according to new research.
Through a survey of 5,400 Canadians holding mutual funds, ETFs, stocks, bonds, cryptos, and other assets, the 2025 Survey of Canadian Investors from the Securities and Investment Management Association (SIMA) and Pollara Strategic Insights includes 4,384 investors and 1,016 non-investors.
It reveals that most investors made at least one new investment within the past two years, and eight in 10 said they sought some form of professional advice in doing so. Mutual fund and ETF purchases surged this year with half of mutual fund holders making a new purchase, doubling last year’s rate, while ETF investors were 50% more active than in 2024.
Investor confidence in advisors remains high, with 89% expressing trust and 86% satisfaction. Nearly all agreed that their advisor improves their discipline, helps them reach financial goals, and delivers value worth the fees.
“While the investing environment is changing rapidly and the industry is changing as well, it is encouraging that so many investors still value the advisor relationship and the advice they get,” says Andy Mitchell, SIMA’s president and CEO.
The study is in its 20th year and has expanded its reach beyond mutual funds and ETFs to provide a broader view of the retail investment landscape.
“By updating our annual investor survey to include a much broader cross-section of investors, we are able to get new types of insights that will help the industry adapt and evolve for the benefit of all investors,” adds Mitchell.
DIY and finfluencers
However, the trust that investors have in their advisors does not mean they are turning their backs on self-directed investment options as four in 10 investors hold online or discount brokerage accounts, with most using them monthly or more often.
These DIY investors report confidence in their decision-making but still desire more research tools and educational resources. They rely heavily on financial media, brokerage research, and professional online content when making investment choices.
Roughly one-third (31%) of Canadian investors now consult financial influencers for insights, particularly Millennials and Gen Z.
Finfluencers are most often followed for money-management tips and specific investment ideas, but only 42% of investors overall say they trust them. Even so, among finfluencer followers, more than half (53%) express high trust, especially because the content is free and relatable.
Economic uncertainty
Market turbulence continues to influence investor behaviour, but its impact appears to be easing.
This year, about one third of respondents said they are investing less because of economic uncertainty, down from half last year, while nearly one in five are investing more. Two thirds (67%) believe professional advice becomes even more essential when markets are volatile.
Non-investors, meanwhile, largely cite lack of funds (48%) or fear of losses (29%) as barriers. They are typically younger, lower-income, and newer to Canada.
The survey highlights both reassurance and opportunity with trust in advice remaining robust but acknowledging that investors increasingly explore alternative voices and self-directed tools.
