Virtually half are involved about managing their wealth, and 82% are nervous in regards to the economic system, particularly inflation (84%), vitality prices (72%), and rates of interest (49%).
Most survey respondents (74%) work with a monetary advisor to handle and develop their wealth and assist them mitigate opposed results of the economic system; however simply 45% of these have a holistic plan that covers all features of their monetary life.
“Very like different teams, high-net-worth Canadians are involved about the place the economic system goes and its impression on their private state of affairs,” mentioned Damon Murchison, president and CEO, IG Wealth Administration. “With wealth comes elevated complexity so it is particularly necessary, throughout these occasions, to not solely hunt down the assistance of a certified monetary advisor who can put issues in perspective but in addition to pick out one who will work with you to develop a holistic monetary plan that is stress-tested and retains tempo along with your evolving state of affairs.”
Among the many most regarding features of the survey is that, whereas 92% of respondents have some concept what their retirement will seem like, lower than half have an in depth plan.
Most mentioned they’re assured that they may come up with the money for for his or her retirement however virtually half reported adjustments to how a lot cash this shall be.