Satisfaction Levels High with Segregated Funds and Mutual Funds
November 8, 2022
On behalf of the Canadian Life and Health Insurance Association, Abacus Data conducted research among a national sample of adult Canadians, including 709 people who had experience with segregated funds and 782 who had experience with mutual funds. This research was conducted between September 4th and October 3, 2022. Here are the key findings.
• 22% of Canadians have used segregated funds, and 52% have used mutual funds.
• Satisfaction levels with both investment product is high. Segregated funds enjoy stronger satisfaction levels compared to mutual funds especially when it comes to “protection against risk” and “reliable income in retirement”.
• In terms of the fees charged for the two products satisfaction levels are high, and somewhat higher for segregated funds. For segregated funds, 82% are satisfied that the “fees are comparable to other investments”, 9 points higher than for mutual funds.
• 85% are satisfied buyers are “given clear and transparent information” when they are sold segregated funds, compared to 78% for mutual funds.
• 88% of those with experience with segregated funds are satisfied they are “sold in an ethical and responsible way”.
We examined for regional, generational, or affluence-based differences of opinion. These differences were marginal: opinions were largely consistent across the country and different walks of life.
UPSHOT
The large majority of consumers who have invested in segregated funds feel they have been dealt with fairly, with transparency, and were charged fees that were comparable to other investment choices. When compared to results among those who have used mutual funds, satisfaction levels with segregated funds are higher across several criteria.
METHODOLOGY
Abacus Data conducted research among a national sample of adult Canadians, including 709 people who had experience with segregated funds and 782 who had experience with mutual funds. This research was conducted between September 4th and October 3, 2022. The survey was conducted online.
The survey was weighted to match the Canadian adult population by age, gender, region, education, and official language.
The research was paid for by the Canadian Life and Health Insurance Association.
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