of respondents said they started investing for the first time in 2020 because they saved more money during COVID-19 lockdowns and had extra money to invest.
of high-net-worth respondents and 31%
of respondents overall
changed their retirement savings strategy due to the pandemic
of high-net-worth respondents didn't change their investment strategy during the pandemic, preferring to "ride the storm" of market volatility
More Canadian respondents want face-to-face meetings with their advisor than gym memberships and going back to concerts
Canadian respondents said they are prioritizing in-person meetings with their advisor once the pandemic is over.
53% of Canadian respondents overall
60% of
High-net-worth respondents
Canadians surveyed are likely to resume...
Gym membership
As Canadians grappled with financial instability during the COVID-19 pandemic, the need for investment advice increased for many. While Canadian investors have long relied on advisors, that trusted relationship may be more critical than ever in 2021 as the economy recovers.
In-person meetings with an advisor ranked higher on respondents' post-pandemic to-do list
compared to gym memberships, buffet restaurants, sports events and concerts
Most Canadian respondents turned to their advisor for investing decisions and support
"Throughout the pandemic, we adapted quickly to make sure our clients felt seen and heard as the world shifted to digital. Now, over a year later, I've never felt more equipped and ready to support my clients through life's ups and downs – whether in-person or virtually. Even some of my more independent clients tell me that they're looking forward to sitting down together when the time is right, and I think that speaks volumes about the kind of relationships we build with our clients at TD."
48%
of respondents lean on their advisor to provide them with retirement planning support
Talking to an advisor can help if you feel like you're making poor financial decisions. More than simply investing advice, TD Wealth advisors can help you along your journey to
reaching your financial goals.
51%
69%
Sports events
Eating at buffet restaurants
of respondents said they used their advisor as their main source for investing information
of respondents preferred to invest through an advisor to achieve their investment objectives
of respondents said their advisor was the most trusted source for investing information
69%
52%
What's changed in Canadians' finances?
What are Canadians most likely to resume when the pandemic is over?
The power of financial advice.
How the COVID-19 pandemic
influenced Canadian investors
61%
More than half of Canadians say they’re more likely to resume in-person meetings with their advisor once the pandemic is over than go to concerts, the gym, or dine at a buffet restaurant according to a new TD survey.
Here are some potential reasons why.
“We know how challenging the pandemic has been for our clients on all fronts, so it's not surprising to see that respondents to this TD Survey are eager for that face-to-face interaction with their advisors again," Jeet Dhillon, Vice President and Senior Portfolio Manager at TD Wealth, Private Investment Counsel. "That said, it's still humbling to see how important the work we do is for our clients. It's rewarding to see that our efforts to create deep and meaningful relationships with our clients are valued and desired."
Going to the gym, seeing your favourite band play live at a stadium, grabbing dinner with friends. Remember what that feels like?
If you've caught yourself planning your post-COVID bucket list, you're surely not alone. As national vaccine rollouts drive a renewed sense of optimism across the country, Canadians are cautiously preparing to re-enter society at some point in the future.
And while reunions with loved ones and friends will likely take priority for many Canadians when it's safe to do so, many are also planning for reunions with other important people in their lives – such as their advisor.
A recent TD Survey[¹] found that 53% of Canadian respondents, regardless of income, said they would resume in-person meetings with their advisor post-pandemic when it's safe to do so. Surprisingly, this surpassed the number of respondents who said they would be likely to return to sporting events, concerts, buffet restaurants, or a gym membership.
While many Canadians in general value financial advice, the survey results also revealed knowledge gaps among respondents and how the COVID-19 pandemic drove heightened emotions and financial anxiety.
71% of respondents are not familiar with what a financial
27% of respondents believe they make poor investment decisions at least sometimes because their emotions or worries get the best of them.
45% of respondents say that protecting their assets and health is what matters most to them, while 28% want to build net worth.
TD Wealth website.
To get started with a TD Wealth Financial Planner or advisor, visit the
Jeet Dhillon, VP & Senior Portfolio Manager,
TD Wealth, Private Investment Counsel
18%
of respondents expect their advisor to leverage technology faster than pre-pandemic.
54%
69%
51%
18%
Concerts
of respondents felt that their advisor has adapted their services to the challenges of the pandemic.
55%
41%
43%
44%
47%
Financial blind spots are unconscious biases that help us reach financial decisions with speed, but often trip us up and can lead to illogical decisions and unsatisfactory investing choices
blind spot
is.
TD Bank Group commissioned Leger to conduct an online survey of 2,508 Canadians, weighted by age, gender, region and income, using Leger's online panel. Responses were collected between March 7 and 17, 2021. For the purposes of the survey, High Net Worth (HNW) individuals were defined as having at least $1M in assets, excluding a mortgage. The margin of error for this survey was ±2.0%, 19 times out of 20.
Financial blind spots are unconscious biases that help us reach financial decisions with speed, but often trip us up and can lead to illogical decisions and unsatisfactory investing choices
To get started with a TD Wealth Financial Planner or advisor,
18%
18%
Hover the graph to learn more.