Internet searches have overtaken financial advisors as Canadians' top source of money guidance
Most Canadians say they feel grateful about money. And yet, nine in ten are not financially fulfilled.
The report, Money and Meaning: Understanding Financial Fulfillment, sorted respondents into three categories: financially fulfilled (12 percent), conflicted (47 percent), or financially stressed (41 percent).
The margin of sampling error is plus or minus 2.2 percentage points at the 95 percent confidence level.
While 48 percent of respondents said gratitude was their primary feeling when thinking about their finances, 38 percent reported stress.
The study defines financial fulfillment as a state where finances align with what matters most to a person, reflecting not only security but whether money creates freedom, confidence and forward momentum.
Short-term financial pressures are crowding out longer-term planning.
More than half of respondents (52 percent) ranked income for a healthy lifestyle as a high priority, followed by increasing household income (47 percent) and reducing debt (46 percent).
Saving for retirement ranked lower at 44 percent, and saving for a home came in at just 21 percent.
A quarter of respondents said they are making significant financial sacrifices to cut expenses.
"For many Canadians, the pressure to focus on today can make it harder to stay connected to what matters most over time," said Penny Pennington, managing partner at Edward Jones.
Self-guided internet research was the most common source of financial guidance over the past year, used by 59 percent of Canadians, compared to 43 percent who consulted a financial advisor.
Yet those who worked with an advisor reported significantly better outcomes: 90 percent felt confident managing their current financial needs, versus 70 percent among those who did not, and 82 percent said they felt in control of their financial future, compared to 60 percent.
Financial advisors also ranked as the most trusted source of guidance overall. Some 76 percent of Canadians expressed confidence in advisors' expertise, compared to 64 percent for family members, regardless of whether respondents personally used one.
David Gunn, principal and head of Canada and US business units at Edward Jones, said guidance helps people understand their options, build a plan around short- and long-term goals, and stay on track "with greater confidence and control."
