Wealth Transfer

At what age do you think people should start learning about wealth and money?

How do people learn about wealth and money? You may be surprised. We surveyed 1,054 Canadians with average investable assets of $3.8 million. Our research reveals that, while financial lessons typically begin with family, most people learn about money matters on their own.

Key findings:

• Financial guidance begins later than you might expect, at age 26
• 57% of respondents seek out knowledgeable individuals to help improve their financial literacy
• Financial education is guided by family, but it’s not the most effective method

Are you prepared to pass on your wealth?

No, not at all

I’ve drawn up a will

Yes, I’m prepared

Many people have a will in place — but a will is just the beginning. Our research reveals that many benefactors have taken the first step, but have not completed their wealth transfer planning.

Key findings:

• 52% of respondents have a will, but only 22% have a full wealth transfer plan
• Those who have previously inherited are better prepared to pass on their wealth