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IFIC Releases Report on the Value of Advice
August 11, 2010
TORONTO – The Investment Funds Institute of Canada (IFIC) today released a seminal report – The Value of Advice: Report - which provides a clear, unbiased view of what advice means to the financial well-being of Canadians and how it builds their confidence in their financial future.The Report presents third party empirical data to show that on the whole, Canadians choose financial advice, and when they do, they accumulate more assets and are better prepared, financially, for retirement.
“Canadians have been, and continue to be well served by financial advice and the advisors who provide it,” said Joanne De Laurentiis, IFIC President and Chief Executive Officer. “We know that individuals choose, overwhelmingly, to seek the assistance of advisors when important life events occur and benefit financially when they do.”
Advisors provide a wide range of valuable services to their clients including:
• Setting and achieving planning targets – Having advice is strongly associated with the accumulation of financial wealth regardless of income level, or age of household.
• Choosing the right vehicles and plans – Advisors help their clients choose the right vehicles and plans to optimize outcomes for their unique circumstances.
• Setting the right investment mix – Advisors help to choose the right asset mix for an individual client’s circumstances, objectives, and risk tolerances.
In addition to the benefits noted above, advisors contribute to financial literacy and are a trusted source for financial information for their clients and their clients’ children.
Financial and investment advice is essential to the provision of individual choice and customized solutions for investors. It is a cornerstone of our current retail financial market. The importance of preserving a healthy advice industry should not be overlooked as we consider public policy reforms affecting the financial sector.
The Value of Advice: Report is available on the IFIC website at www.ific.ca.
IFIC is the national association of the investment funds industry. Membership consists of mutual fund companies, retail distributors and industry affiliates.
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For more information contact:
Laurie Gillett
Senior Manager, Communications
The Investment Funds Institute of Canada (IFIC)
Phone: 416-309-2317
Email: lgillett@ific.ca
Website: www.ific.ca
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The Investment Funds Institute of Canada (IFIC)
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