The value of advice

Couple getting help from an advisor

The evidence is in... Advice is invaluable

There are many studies that prove people who work with an advisor make better financial decisions, save more for retirement, are more disciplined during uncertain economic periods and accumulate more wealth than those who do not have an advisor.

Research by the Centre for Interuniversity Research and Analysis of Organizations (CIRANO) in Quebec found that households who use a financial advisor accumulate considerably more wealth than those who do not, and that this wealth increases over time. After four years, the invested assets of households working with an advisor were 1.9 times greater than those who did not have an advisor. After 15 years, households with an advisor accumulated 3.9 times more wealth than those who did it on their own.

And working with an advisor is good for the economy too. A Conference Board of Canada report from September 2014 noted that, if 10 per cent more Canadian households chose to save with an advisor, overall household wealth would increase by $4.8 billion and GDP would grow by an additional $2.3 billion over a 45-year period.

Simply put, working with an advisor results in higher household savings. Lawyers Financial Advisors understand the unique needs of the legal community.

Connect with your local Lawyers Financial Advisor to put a protection and wealth plan in place or to review your current plan.

Connect with an Advisor

November 2, 2017