As experts that people consult on financial decisions, advisors are in a good position to get on-the-ground insight into what’s in demand among consumers. And as a new survey from Advocis, the Financial Advisors Association of Canada confirms, what a lot of Canadians want is more living space.In a recent poll of 100 Advocis members, around one fifth said that between 20% and 40% of their clients have initiated conversations about making some type of big-ticket purchase. Notably, 22% of respondents said that cottages were the largest big-ticket purchase that their clients have consulted them on this summer.
“It was sort of a surprise to us,” Greg Pollock, president and CEO at Advocis, told Wealth Professional. “Twenty per cent of advisors reporting client interest in this area is a fairly large percentage.”