When the U.S. administration introduced 25 per cent tariffs on Canadian goods in March 2025, targeting key sectors such as automotive, lumber, and agriculture, the effects were felt far beyond the trade corridors. For financial advisors across Canada, the news prompted a wave of client questions and market anxieties – and reinforced the need for calm, informed guidance.
The 2025 Advisor Perception Study (APS), one of the industry’s most extensive and long-running surveys of independent financial advisors, provides insight into these dynamics. Now in its 30th year, the APS profiles advisors and their clients, tracks performance of financial firms across 46 core dimensions, and monitors brand equity of insurance and investment companies as well as specific drivers of sales and support. This year, 3,106 advisors participated in the study, offering a comprehensive view of advisor sentiment across Canada at a time of heightened uncertainty and volatility.
Given the potential implications of the new trade measures, the 2025 APS included a module with targeted questions on U.S. tariffs, designed to understand how both advisors and their clients were reacting to the new trade measures. The findings shed light on the influence of economic policy developments on investor sentiment, the nature of client-advisor conversations, and the types of support advisors find most valuable during times of uncertainty.
