April Scott-Clarke
A new BMO Financial Group study has found that Canadians do understand the value of financial planning, especially when they’re preparing for major life milestones such as retirement.
In fact, 92% of those surveyed believe that a financial plan plays a critical role in helping them realize their ideal retirement lifestyle.
The study also found that 44% of those with a plan review it a few times a year, while more than 28% go over it monthly. Nineteen percent conduct an annual review.
This information could be useful to plan sponsors when deciding if access to financial counselling or advice is something the organization wants to offer. It could also be critical when establishing a communication plan.