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ARTICLE · 01 JULY 2024

CIRO Releases Results Of First Investor Survey

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Early this month, the Office of the Investor at the Canadian Investment Regulatory Organization (CIRO) released the results of its first investor survey...

CanadaFinance and Banking
AUM Law
AUM Law
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Early this month, the Office of the Investor at the Canadian Investment Regulatory Organization (CIRO) released the results of its first investor survey (together with the Innovative Research Group), which was intended to provide insights into trends and financial concerns impacting investors in Canada. The report is very robust and includes data relating to several themes, including financial goals and challenges, investment decision making and risk, the investor-advisor relationship, familiarity with complaint-handling procedures, and familiarity with fraud/scam attempts.

Perhaps unsurprisingly, investor confidence in achieving personal financial goals is being affected significantly by the rising cost of living, and thus only 21% of Canadians surveyed said that they felt "very confident" about meeting financial objectives. Similarly worrying, 28% of Canadians (and as high as 40% of 18–34-year-olds) indicated they needed to borrow money to cover daily expenses.

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