CO-OPERATORS SURVEY: CANADIANS ARE STRUGGLING WITH FINANCIAL CONFIDENCE, BUT HUMAN ADVICE HELPS

Younger Canadians are the most uncertain and the most eager for help

GUELPH, ON, June 26, 2025 /CNW/ - A new national survey from Co-operators finds that only one-third of Canadians (34%) feel optimistic about their financial future, a number that drops even lower for Gen Z (28%) and Millennials (26%). The data paints a stark picture of how economic turbulence is shaping outlooks across the country, with cost-of-living pressures and political uncertainty eroding confidence at every stage of life.

The survey found that inflation (72%), rising housing costs (47%) and the job market (43%) are the top factors negatively impacting Canadians' financial outlook. While half of Canadians report actively investing, 27% say they don't currently have extra money to invest.

Yet one group is pulling ahead: those working with an advisor. Canadians who work with a financial advisor are significantly more optimistic, confident and resilient:

• 64% of those with an advisor say they feel optimistic about their financial future, compared to just 44% of those without
• They are more than twice as likely to feel very confident making financial decisions
• 94% say their advisor has helped them navigate recent economic and global volatility

"Canadians are seeking clarity amid the noise," said Jessica Baker, Executive Vice President and Chief Retail Sales Officer at Co-operators. "Our research shows a growing confidence gap, especially among younger Canadians, but also proves that having a trusted advisor can change that. Human connection and tailored support are what help turn uncertainty into progress."

Younger generations in particular are looking for guidance, but they're often unsure how to get started. The top barriers among Gen Z and Millennials without an advisor include not knowing where to begin, feeling concerned about costs and feeling too intimidated to ask for help.

While the data paints a challenging picture, it also signals an opportunity. Canadians, especially younger generations, are looking for clarity, connection and support. Many just don't know where to start, or if they even "qualify" for help.

Co-operators is aiming to change that, making values-based financial advice more accessible by focusing on people, not products.

"We're seeing a generation that's hungry for support but unsure if they even qualify for financial advice," added Baker. "You do. Everyone does. Our advisors are here to make financial guidance accessible, personal and help you achieve long-term financial security."

Other notable findings from the survey include:

• Nearly half of Canadians (43%) say they don't know who to trust when it comes to financial advice
• Just one in three currently work with a financial advisor
• Gen Z (26%) and Millennials (22%) are much less likely to be confident that they could handle a major unexpected expense.
• 58% of Canadians wish they had started their financial planning earlier
• Those currently working with a financial advisor (52%) are more likely to agree that they are on track to meet their financial goals than those who are not working with one or aren't sure (26%).
• Separate research shows one in three Canadians now use AI to manage their finances; but while digital tools are on the rise, the Co-operators findings highlight that expert, human guidance still makes the greatest impact.

To learn more about how Co-operators advisors can support your financial journey, visit www.cooperators.ca.

About the survey

A total of 1,500 adult residents from across Canada were surveyed online between June 9 to 12, 2025. The sample was randomly drawn from Leger's web panel of potential survey respondents. The sample was weighted by age, gender, and region to reflect Canada's population distribution according to the 2021 Census data. An associated margin of error for a probability-based sample of this size would be ±3%, 19 times out of 20.

About Co‑operators

Proudly Canadian since 1945, Co‑operators is a leading financial services co-operative, offering multi-line insurance and investment products, services, and personalized advice to help Canadians build their financial strength and security. With more than $72 billion in assets under administration, Co‑operators is well known for its community involvement and its commitment to sustainability. Currently a carbon neutral organization, Co-operators is committed to net-zero emissions in its operations and investments by 2040, and 2050, respectively. Co‑operators is recognized as one of Canada's Top 100 Employers and ranked as one of Corporate Knights' Best 50 Corporate Citizens in Canada. For more information, please visit: www.cooperators.ca.

Co-operators® is a registered trademark of The Co-operators Group Limited and is used with permission. ©2025 Co-operators Financial Investment Services Inc. ©2025 Co-operators Life Insurance Company.

SOURCE: Co-operators Financial Investment Services Inc. and Co-operators Life Insurance Company.

For media inquiries:
Email: media@cooperators.ca

SOURCE The Co-operators Group Limited