Canadian Wealth Management Firms Must Show Commitment to ESG Investing to Grow Business, J.D. Power Finds

With nearly $700 billion in financial assets poised to be transferred to the next generation in Canada by 2026, full-service wealth management firms need to do a better job of catering to the needs and values of this emerging demographic of younger investors or risk losing current and future business. According to the J.D. Power 2021 Canada Full-Service Investor Satisfaction Study,^SM released today, Millennials and Gen Z¹ investors who strongly believe their investment firm is committed to ESG (environmental, social and corporate governance) investing are twice as likely to increase their investment compared with those who don’t perceive this commitment (31% vs. 16%, respectively).