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Quebecers looking for personal financial advice

Quebecers value their financial health, yet only one out of every two has a recent financial plan.

MONTREAL, July 11, 2019 (GLOBE NEWSWIRE) -- Today, Laurentian Bank released the results of a Léger poll on Quebecers' financial habits, which reveals, among other things, that:

  • 98% of respondents value their financial health;
  • Only 45% have a recent financial plan;
  • Less than one in two (48%) consult a professional to help them make decisions regarding their personal finances.

“Quebecers care about their financial situation, but too few of them take action by calling on a financial health expert to support and to properly advise them. Regardless of the value of their assets, they could benefit from professional financial advice,” said Diane Pilote, Senior Vice-President, Retail Services (Quebec) at Laurentian Bank.

Advisors and advice to help improve everyone's financial situation

According to the data collected by Léger, among the Quebecers who call on the expertise of an advisor from a financial institution, 58% do so for advice on financial planning and 87% of them feel that their advisor helped improve their situation.

“Everyone benefits from developing healthy financial habits early on—just as they do in other areas of their lives. And it starts with the help of a professional, who will assist them in understanding their personal situation with a financial health assessment that will lead to the development of strategies tailored to their goals. Our advisors are there to accompany the clients. Laurentian Bank adopted a 100% Advice approach, offering expertise and true added value where it counts for them,” added Ms. Pilote.

STUDY ON QUEBECERS' FINANCIAL HABITS - HIGHLIGHTS

The complete study is available upon request.

Methodology

The study was conducted by Léger to gather data on the financial habits of Quebecers using a Web survey administered between June 10 and June 16, 2019, in French and in English, among 2,202 respondents aged 18 and over across Quebec. Quotas were imposed according to the origin of the participants to allow for a regional analysis and the results were weighted with the help of data from Statistics Canada to render the sample representative of Quebec’s population.

About Laurentian Bank Financial Group

Founded in 1846, Laurentian Bank Financial Group is a diversified financial services provider whose mission is to help its customers improve their financial health. The Laurentian Bank of Canada and its entities are collectively referred to as Laurentian Bank Financial Group (the “Group” or the “Bank”).

With 3,300 employees guided by the values of proximity, simplicity and honesty, the Group provides a broad range of advice-based solutions and services to its retail, business and institutional customers. With pan-Canadian activities and a presence in the U.S., the Group is an important player in numerous market segments.

The Group has $45 billion in balance sheet assets and $30 billion in assets under administration.

Experts from the Bank are available to discuss the results of this survey.
             
Information :
Hélène Soulard
Assistant Vice-President, Communications
O.: 514 284-4500, ext. 40015
M.: 514 926-3295
helene.soulard@lbcfg.ca

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Hélène Soulard
Office: 514 284-4500, ext. 40015
Cell: 514 926-3295
E-Mail: helene.soulard@lbcfg.ca

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