The Index reports the overall financial confidence of Canadians based on 10 survey questions related to IG’s four pillars of financial confidence: Current Personal Financial Situation, Personal Financial Outlook, Planning and Literacy and Trust in the Economy.
This year’s Index finds that the country’s level of financial confidence has increased to a score of 52, exceeding the historical average for the first time since 2021. What stands out is that there is a clear paradox: Canadians acknowledge worsening economic and political conditions but remain confident in their personal financial situations.
“Canadians are clearly concerned about what’s happening around them, but they’re also betting on themselves,” said Damon Murchison, President & CEO, IG Wealth Management. “Navigating the COVID-19 pandemic built resilience and we’re now seeing a shift – people are taking greater control of their daily finances and long-term planning, even as trust in broader systems remains low.”
The Index shows that a majority of Canadians are bracing for worsening conditions south of the border, with three-quarters expecting U.S. political instability to deepen in 2026 and two thirds (68 per cent) anticipating a decline in the American economy. The findings reflect a rising sense of vulnerability, as Canadians continue to grow uneasy about how U.S. turmoil could affect their own economic future.
Canadians’ Trust in the Economy scored just 39 – by far the lowest of all four pillars, lagging behind the rest by as much as 13 points or more. What’s driving the low score? Many Canadians are not confident in the government’s ability to successfully manage through things (43 per cent do not have faith in their provincial government and 38 per cent in the federal government) and rising fears of a recession (60 per cent).
Despite this macroeconomic uncertainty, Canadians’ individual financial confidence and discipline are on the rise. Women (50), Indigenous peoples (51), and residents of Quebec (53) – historically lower-scoring groups – all posted significant gains this year, up three points, nine points and four points respectively.
“Canadians are facing an increasingly unpredictable world, but their growing resilience and confidence when it comes to their individual financial situation is a bright spot. The results tell us they are not waiting for economic recovery – they are creating it for themselves,” noted Mr. Murchison.
When it comes to professional advice, over half of Canadians (55 per cent) say human financial advice is more important than ever in the age of Artificial Intelligence (AI); however, only 46 per cent currently seek professional guidance. Further, one-third believe traditional advice isn’t keeping up with today’s market realities, signaling an opportunity for innovation and modernization in financial services.
“In a time of economic uncertainty and rapid AI advancement, the need for personalized, human financial advice has never been greater,” said Mr. Murchison. “We have a responsibility to evolve with the changing landscape and a powerful opportunity to lead through transformation, delivering best-in-class advice that technology alone simply can't replicate.”
The IG Financial Confidence Index is part of IG’s community program, IG Empower Your Tomorrow, which is dedicated to building financial confidence among Canadians, especially those most at risk. Visit IG Empower Your Tomorrow to learn about the various initiatives supported by IG and speak to a local IG Wealth Management Advisor today to increase your financial confidence: Find an Advisor.
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