Canadian investors' optimism has grown significantly since early in the pandemic, especially among those who have met with an advisor, found the Scotia Global Asset Management Investor Sentiment Index survey, released Jan. 7.

The index, which measures investors' optimism based on the survey, spiked to 117 in November from 100 in May, and is even higher at 130 among those who have met with an advisor during that period relative to the total in May.  

"COVID-19 has been challenging for Canadians on so many levels, and it is easy to be swayed by negative news events. These results are testament to the critical role financial advisors play in buoying their clients' confidence – even during a pandemic – and providing the reassurance and peace of mind they need to stay invested to meet their long-term financial goals," stated Neal Kerr, Head, Scotia Global Asset Management (Canada).

The survey found that 82% of Canadian investors who met with their advisor in the past six months say their advisor has made them feel confident about their investments. In comparison, only 56% of those who did not meet with their advisor during that period felt confident.

Of those surveyed, 80% who met with their advisor during that period agreed their advisor keeps them on track to meet their financial goals, regardless of what is going on in the markets.

The survey also revealed a strong level of satisfaction among those who met with their advisor in the past six months: 85% are satisfied with how their advisor has handled their investments; 85% are satisfied with how their advisor has communicated with them; and 85% find recommendations by an advisor important when choosing an investment product.

The Scotia Global Asset Management Investor Sentiment survey was conducted by Environics Research November 10-19, 2020. The online survey included 1,024 Canadians, 25 years of age or older with household investable assets of $25,000 or more.