Canadians with only in-bank advisors are the most likely to agree with the statement “I’m considering finding a new advisor”.
Having an advisor but not even being able to identify the company that they work for (Don’t know/DK) appears to speak to the relationship, or lack thereof, between the client and the advisor. Financial relationships, however, are sticky, and there are a number of convenience and financial factors that come into play when a Canadian switches advisors, therefore the vast majority of Canadians will choose the path of least resistance.
(Responses from more than 40,000 Canadians. Research from Fall 2016-Fall 2020)