Canadians Overlook Estate Planning Despite High Priority, IG Study Finds
Event summary
- 84% of Canadians consider estate planning a priority, but only 41% have a plan in place.
- 68% of Canadians believe charitable giving should be part of estate plans, but only 40% have discussed it with advisors.
- 29% of Canadians have a plan for managing charitable giving in case of cognitive decline.
- IG Wealth Management recommends donor-advised funds as a tool for integrating charitable giving into estate plans.
The big picture
IG Wealth Management's study highlights a significant gap between Canadians' stated priorities and actual estate planning actions, particularly around charitable giving. This disconnect presents an opportunity for wealth managers to deepen client relationships through comprehensive planning services. With $167 billion in assets under advisement, IG is well-positioned to capitalize on this need, potentially driving growth in both advisory services and specialized financial products.
What we're watching
- Advisor Engagement
- How IG Wealth Management will leverage this data to drive advisor-led estate planning conversations.
- Product Innovation
- Whether donor-advised funds gain traction as a preferred charitable giving vehicle among Canadian wealth holders.
- Regulatory Dynamics
- The pace at which Canadian regulators may incentivize or mandate estate planning and charitable giving integration.
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