Toward the 2025 Canadian Investor

Canadian investor Univeris

The driving force behind the evolution of the wealth management industry is often attributed to emerging technologies and regulatory demands. But the average Canadian investor is also changing. With an aging population, growing wealth, and the dominance of the smartphone, let’s take a closer look at how the average Canadian investor is expected to change by 2025.

Looking Toward the 2025 Canadian Investor - Infographic by Univeris

Increase in age and life expectancy

The Canadian population is getting older, living longer, and insecure about their financial future. Three-in-five Canadian investors (62%) worry that inflation will threaten their long-term financial plans, while over half (57%) worry they are not earning enough for retirement. As a result, Canadian investors are demanding “sustainable” portfolios and investment products to help secure their financial future.

Growth in population and total wealth

Between the years 2013 and 2022, the number of households in Canada is expected to grow 13%, while total wealth is projected to increase by 60%. However, almost half of Canadian investors (48%) do not save or invest their money at all and 20% report that a major obstacle to investing is their lack of knowledge. This is a huge opportunity for wealth management firms as Canadian investors are looking to them for professional expertise, proactive investment advice, and even non-investment advice to help them achieve their goals.

Smartphone domination

Of all devices, the most popular for Canadians to own are a smartphone (76%), followed by a laptop or netbook (71%), tablet (54%), and desktop (50%). Smartphone penetration in Canada, outpaces that of the United States and the United Kingdom; this number is only expected to grow. In addition to penetration, smartphones are also integral to the investment process; 77% research products and services on their smartphones. Because of this, Canadian investors want an enhanced digital experience and wealth management firms must ensure that their strategy is mobile-first, adaptive, or responsive.

As the Canadian investor becomes older, wealthier, and more mobile-savvy, wealth management firms will have to evolve their product and service offering in order to keep pace with these trends and fend off new competition. Understanding the present and future needs of the Canadian investor is a great place to start.

The post Toward the 2025 Canadian Investor appeared first on Univeris.


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