Current Economic Climate Weighing on Canadian Investors, Survey Finds

Toronto, ON (CNW) Canadians are increasingly feeling the pressure of the current economic climate on their investments – and professional advice and a financial plan can provide a significant confidence boost.

Results of the annual Scotia Global Asset Management Investor Sentiment survey, released today, indicate that nearly 6 in 10 (58%) investors surveyed say they are concerned, worried or anxious about their investments. 60% of those surveyed believe current economic conditions have impacted their retirement plans.

Scotiabank’s fifth annual Worry Poll, which looks at how Canadians feel about their finances more broadly, provides further insights. Fewer Canadians spent time worrying about their finances, but those who did spent more hours on average and were most concerned about paying for day-to-day expenses.

“It is very understandable to be concerned about daily expenses, particularly as we have experienced higher inflation. Trying to find a balance is key – managing short-term needs while at the same time not sacrificing the growth potential needed to meet long-term goals like retirement. The good news is that regular meetings with financial advisors and having a written financial plan can help restore that balance and alleviate concerns,” says Neal Kerr, Head, Scotia Global Asset Management.

The survey found that 80% of those who have met with their advisor in the past six months say they feel confident in their financial situation compared to 61% who had not met with their advisor in that period. For those with a financial plan, 52% are more likely to view the current investment climate as a good time to invest, compared to 25% for those without a financial plan. 

“Our commitment – to enrich our clients’ financial futures with outstanding investment solutions delivered in partnership with comprehensive wealth advice – remains critically important, as the survey results attest again this year,” adds Mr. Kerr.

To read more about the survey, click here.

About the Investor Sentiment Survey

The Scotia Global Asset Management Investor Sentiment survey was conducted by Environics Research from November 20-29, 2023. The online survey included 1,028 Canadians, 25 years of age or older with household investable assets of $25,000 or more and who participate in investments decisions for their household. The data was weighted by age, gender and region and household investable assets to reflect the population.

About Scotia Global Asset Management

Scotia Global Asset Management® is a business name used by 1832 Asset Management L.P., a limited partnership, the general partner of which is wholly owned by Scotiabank. Scotia Global Asset Management offers a range of wealth management solutions, including mutual funds, ETFs, liquid alternatives, private asset funds and customized investment solutions for institutions and managed asset programs. For more information, please visit

About Scotiabank

Scotiabank’s vision is to be our clients’ most trusted financial partner, to deliver sustainable, profitable growth and maximize total shareholder return. Guided by our purpose: “for every future,” we help our clients, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.4 trillion (as at January 31, 2024), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit and follow us on X @Scotiabank.

SOURCE Scotiabank

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