Households using advisors had an annual savings rate of 8.6%, versus only 4.3% f or non-advised households – save at twice the rate1.
After 15 years or more working with a financial advisor, advised households accumulate as much as 173% (2.73 times) more assets than otherwise identical non-advised households1.
1 The Investment Funds Institute of Canada, www.ific.ca, New evidence on the value of financial advice , 2012
2 Investment Funds Institute of Canada, www.ific.ca: The value of advice: Report, 2011
84% of advised households have RRSPs (Registered Retirement Savings Plan) compared to only 36% of non-advised 2.
45% of advised households have TFSAs (Tax Free Savings Account) compared to only 20% of non-advised 2.
Research surveys the general English-speaking population in Canada (excluding Quebec.)