Canadian investors are open to working with numerous providers, including fintech companies, to diversify their assets.

By 2025, a significant majority of Canadian investors that desire diversification intend to cooperate with several providers, including fintechs. A poll by EY found that 40% of investors are keen to use digital assets and services more frequently or consistently over the next three years in order to unlock value and improve the performance of their investments.

In addition, compared to their international counterparts, Canadian investors are twice as likely to switch asset managers as a result of economic uncertainty and different values.

According to the 2023 EY Global asset Research Report, Canadian investors are almost twice as likely to switch asset management companies during the next three years than their North American counterparts. If their current advisors do not share the same values, this number increases by two.

Economic uncertainty and investors’ growing readiness to research various goods and providers are driving changes in the Canadian investment market’s structure.

David Hurd, national wealth management head for EY Canada, says, “Wealth managers have a unique opportunity to embrace this shift by demonstrating to clients the value they can deliver while navigating this complexity.”

According to the poll, 45% of Canadians actively seek to add, switch, or relocate their wealth management providers. Since the 2021 EY Global Wealth Research Report, there has been a notable 24 percent increase in this. While 57.7% of respondents from the East Coast provinces expressed a desire to make changes, only 29.9% of respondents from the Western provinces said they intended to do so.

Top concerns

Canadian investors place a higher value on criteria like brand recognition and personal recommendations than their international counterparts when choosing a wealth and asset manager. However, when choosing a wealth manager, 48% of investors place an emphasis on investment performance and 40% place an emphasis on costs. These factors remain to be the most crucially considered on a national level.

By 2025, there will be a noticeable trend among Canadian investors as they expect to deal with more than one financial management company. This strategy is thought to be a means of improving performance and diversification. In order to access the value they desire, 40% of Canadians are actually willing to increase or retain their use of digital service providers, including fintechs and digital asset offers.

The epidemic has also had a big effect on Canadian investors’ inclination for virtual advisor engagements. Only 12% of investors favored virtual consultations in 2021; today, that percentage is over 40%. The most favored route for planning and advice activities is now virtual consultations, which are on par with in-person meetings. However, Canada still lags behind the world average in terms of total digital engagement preferences.

Getting close

Associate partner for business transformation at EY Hermine Ferron-Brandin emphasizes the need for tailored experiences that offer constant support throughout the wealth management journey.

Wealth managers should strive to create a comprehensive client experience that combines virtual and in-person touchpoints with cutting-edge collaborative tools and self-service capabilities, according to Ferron-Brandin, given the need for digital services.

The results of the EY poll show how Canadian investors’ preferences are changing and how important it is for wealth managers to adjust to these shifting dynamics. Wealth managers may better serve their clients’ needs and expectations in the digital age by embracing technology and providing individualized experiences.

Fintech in Canada
Best Forex Broker

The top-tier DFSA, FCA, and ASIC all regulate XM. Right now, one of the best trading platforms offering wide range of products.

Trade whenever with a CFD broker with global recognition! You have mobile access to more than 230 tradeable assets with the VT mobile app.

Enjoy Instant Order Execution and a Professional Platform. Low fees and helpful, round-the-clock support. high quality. Indices. Trading.

Trade CFDs on shares, indices, currency, commodities, bonds, and cryptocurrencies with our simple interface on worldwide markets.

For traders with low to medium skill levels. Provides a perfect fit thanks to its customizable account types that suits different styles.

Visa カジノ Visaカジノは、https://antiguidadesantonioluis.com/banking/visa-online-casinos/ Visaカードを通じてオンラインギャンブルを楽しむことができるプラットフォームを指します。世界中の多くの人々が利用しており、その主な魅力は、Visaの広範な受け入れと迅速な取引です。クレジットカード情報を提供するだけで、多種多様なゲームを体験できます。ポーカー、ブラックジャック、スロットなど、選択肢は無限大です。しかし、参加する前に、自分自身の財政管理をしっかりと理解し、自己制御を保つことが重要です。 21 com カジノ 21 com カジノは、https://casino-bonus-tips.com/21.com/ オンラインで豊富なゲーム体験を提供しています。スロットからテーブルゲーム、ライブディーラーゲームまで、多岐にわたる選択肢が揃っていて、プレイヤーの好みに合わせて選べます。また、スマートフォンやタブレットからもアクセス可能で、いつでもどこでも楽しむことができます。その他にも、新規プレイヤー向けのボーナスや、定期的なプロモーションもあり、ゲーム体験をより楽しく、エキサイティングにしてくれます。ただし、年齢制限や自己管理の規則に注意しながら、楽しみ方を見つけていきましょう。