iAtoday

By François Bertrand-Fradet, FSA, FCIA
Director, Financial Advice and Retention Strategy
Group Benefits and Retirement Solutions
iA Financial Group

Recent shifts in trade policies combined with the rising consumer cost of living are driving major economic uncertainty. This has shaken Canadian households’ confidence, resulting in declining optimism about their personal financial health.¹

In fact, we see that 74% of Canadians are worried about not saving enough, while two-thirds are concerned about their long-term financial wellbeing.²

This poses a serious risk to their ability to save and achieve their life goals, which is why I believe that sponsors of group retirement savings plans have a crucial role to play in supporting plan members as they confront these challenges.

In my recent analysis, Financial advice: a key pillar of total wellbeing, posted in our Insights thought leadership space, I take stock of:

• The consequences of financial uncertainty: This can have a profound impact on people's mental health, and employers have a vested interest in playing a leading role in supporting the financial wellbeing of their staff.
• The value of financial advice: Access to personalized financial advice is a key solution to help plan members to improve their total wellbeing—physical, mental, financial and social—while helping them grow their net worth.
• Strategies for employers: There are a number of ways in which employers can incorporate financial advice into a plan, or enhance an existing service, to improve the financial literacy of their staff while optimizing their own organizational performance.

To find out more about the importance of offering financial advice services and generate positive outcomes for organizations, see my full analysis:

Financial advice: a key pillar of total wellbeing

¹ Canadian Survey of Consumer Expectations—First Quarter of 2025 - Bank of Canada

² Are Emaciated Canadian Piggybanks Today's Reality?