This first-stage analysis has resulted from a survey of more than 1,100 CFP holders. It is the tabular analysis of the survey results. The next chapter will be the advanced segmentation and modeling work.

The Credo Study with FPSC is a multi-stage research program. Its primary focus is improving the current understanding of the Canadian financial advisor marketplace. The research is both quantitative (survey-based) and qualitative (focus groups). It will result in new insight about advisor segmentation as well as a benchmarking of advisors perceptions of the various suppliers that participate in the marketplace.

Phase 1 – The first phase of the research involves a survey of more than 1,000 Canadian CFP holders. This survey is designed to gather information that will enable us to develop a new model of advisor segmentation. Why? Current models are outdated. They look at advisors either as members of the IDA, MFDA, MGA or captive channels, or they consider advisors simply for their level of production. In either case, these models do not enable suppliers to understand advisors’ motivations.

Phase 2 – The second stage of the research is qualitative. Credo will interview a host of advisors in focus groups and during in-depth interviews. We will ask them about the way they practice and we will ask them about the suppliers with which they work, all in an effort to better understand the evolution of the industry.

Phase 3 – The third stage of the research will be another survey. We will benchmark supplier firms against a host of drivers of support:

  • Credibility
  • Clarity
  • Consistency
  • Brand Investments
  • Perceive Quality
  • Perceived Reduction of Risk
  • Information Search Cost Savings

All of these influence an advisor’s propensity to recommend one company’s instruments over another.

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