This week’s Competitive Intelligence Update explores the benefits of using financial planners and the opportunities for credit unions to help members achieve their financial goals

Use of financial planners

Almost four-in-ten Canadians work with a financial professional, according to FP Canada’s 2025 Financial Stress Index. 

Financial stress

Money causes significant stress for many Canadians. Younger Canadians are particularly worried about housing costs. This issue is discussed in more detail.

This stress impacts Canadians’ mental health.

Financial well-being

For many Canadians, not worrying about day-to-day finances and being able to retire comfortably are key to financial well-being. Younger Canadians are more likely to point to paying off debt, owning a home, and saving more. 

Impact of financial advice

Professional advice helps reduce financial worries. The FP Canada survey found Canadians who work with a financial professional are less likely to be stressed about money and less likely to have lost sleep due to financial worries.

Actions to reduce financial stress

Saving more is seen as the solution to reducing financial stress for just under half of respondents in the FP Canada survey. Around four-in-ten respondents point to paying down debt and having an emergency savings fund as important to reducing financial worries. 

Seeking advice

Research found that a growing proportion of younger Canadians are looking for advice regarding debt.

While more Canadians are managing their own investments, the increased adoption of DIY investing has left “a large, advice-shaped hole” and financial influencers are taking that space. However, there are opportunities for credit unions.

Satisfaction with financial advice

Credit union members expressed greater satisfaction with the financial planning and advice they received from their credit union than clients of the big five banks, according to the results of the Ipsos Customer Service Index (CSI) Financial Service surveys for the first two quarters of 2025. 

Credit unions also have consistently earned a higher level of trust. Previous Ipsos surveys also show trust is one of the top factors that would persuade consumers to accept financial advice from their financial institution. 

Implications and considerations

The article explores opportunities for credit unions to build on this higher level of satisfaction and trust.

For details on this story and more, please read this week’s Competitive Intelligence Update. Email research@ccua.com to learn more and sign up.