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Edward Jones Study Finds Enduring Client Relationships Anchor Financial Planning Amid Uncertainty

News release | July 14, 2025

52% of Canadian financial advisors anticipate financial planning to become more integrated into their practices as market fluctuations and wealth transfer conversations continue 

TORONTO, ON, JULY 14, 2025 – Canadian financial advisors say clients are more stressed about housing costs (64%), market volatility (63%) and retirement planning (44%) today than they were five years ago, according to new research from Edward Jones and Cerulli Associates.

Despite macroeconomic factors, Canadian financial advisors say they’re unlikely to recommend changes to clients’ financial plans in response to geopolitical uncertainty (48%), market volatility (47%), and tariffs(46%). The research, conducted in April during a period of increased market volatility, captured the insights of financial advisors on the current and future advisory landscape, as well as their clients’ attitudes about their financial positions and outlook.

“Our role as financial advisors is to be the steady hand guiding clients through market ups and downs,” said Ryan McLellan, financial advisor, Edward Jones Canada in Nepean, ON. “We remind them that volatility is a natural part of investing and encourage them to stay focused on their long-term financial goals. But just as important, we’re here to build lasting relationships, grounded in trust and understanding, so that clients know they’re never navigating these challenges alone.”

And looking at the bigger picture can positively affect clients’ future outlooks. Even during periods of uncertainty and heightened stress, Canadian financial advisors say the majority of their clients (65%) remain optimistic about their financial futures.

Financial advisors increasingly gravitate to financial planning

As clients’ needs and preferences shift, financial planning is becoming a larger part of financial advisors’ practices. Forty-five percent of Canadian financial advisors say they offer comprehensive ongoing planning advice, and expect that to increase to 52% in the next two years. Additionally, 33% said financial planning resources are one of the most valuable elements their firm provides.

And while advisor experience and qualifications are important to the advisor-client relationships, it’s elements such as trust and authenticity in financial advice that are having a greater impact. In fact, advisors’ soft skills are believed to be most valued aspect of the advisor-client relationship – trustworthiness / accountability (59%), deep relationships (41%), and communication / responsiveness to needs (36%).

“Every client conversation starts with their unique goals, because financial fulfillment looks different for everyone,” said Julie Petrera, Senior Strategist, Client Needs at Edward Jones Canada. “That’s why our approach is both continuous and adaptable—life changes, and our planning must evolve with it. Advisors need the flexibility to meet clients where they are, in ways that are meaningful to them."

Wealth transfer conversations constantly evolve

The ongoing generational wealth transfer continues to be a key conversation topic between financial advisors and their clients – 50% of Canadian financial advisors noted that their clients initially engaged with them because of inherited assets.

These discussions often explore what financial fulfillment and leaving a legacy mean to each client. Canadian financial advisors say the most important factors that lead to a financially fulfilled life vary by generation: owning a home for Millennials (74%), retiring as desired for Gen X (47%) and Baby Boomers (44%), and leaving a legacy for Silent Generation clients (76%). These conversations also help crystallize values clients want to instill in their heirs, with 66% of Canadian financial advisors saying their clients want to pass on financial responsibility and literacy to their family members.

To have a successful wealth transfer, Canadian financial advisors say that it’s important for clients to minimize tax liabilities (54%), have clear estate planning documents that reflect current values or goals (48%), establish open and transparent communication with their heirs (34%), And when it comes time to pass on wealth, Canadian financial advisors say their clients most commonly use investment or retirement accounts (78%), real estate (57%) or life insurance (68%) as methods for inheritance.

In addition to researching financial advisors’ thoughts on the advisory landscape, Edward Jones conducted a survey on retail investors’ goals, challenges, and feelings about their current financial situations. For more information about the retail investor research, visit https://www.edwardjones.ca/fulfillment.

Methodology

In 1Q 2025, Edward Jones engaged Cerulli Associates to conduct a research study on the ‘Pulse of North America.’ This research aimed to assess retail investor and financial advisor sentiment within the U.S. and Canadian wealth management markets. In support of this research, Cerulli Associates conducted surveys of retail investors and financial advisors, in addition to in-depth research interviews and focus groups. Primary research was conducted throughout March and April 2025, in both the U.S. and Canada. The research on Canadian advisors was conducted by Environics Research in collaboration with Cerulli Associates.

About Edward Jones Canada

Edward Jones is a full-service investment dealer which provides a range of investment products, services, and solutions to retail investors. We have more than 870 financial advisors in Canadian communities from coast-to-coast. A member of the Canadian Investment Regulatory Organization and the Canadian Investor Protection Fund, the firm is also a participating organization in the Toronto Stock Exchange. For more information, visit edwardjones.ca.

About Cerulli Associates

For over 30 years, Cerulli has provided global asset and wealth management firms with unmatched, actionable insights. Headquartered in Boston, Cerulli Associates is a research and consulting firm that provides financial institutions with guidance in strategic positioning and new business development. Our analysts blend industry knowledge, original research, and data analysis to bring perspective to current market conditions and forecasts for future developments.

The study is part of a broader North American initiative examining advisor sentiment in both countries.

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