Advisers say trade uncertainty increasingly shaping Canadians’ financial concerns: Fidelity poll

Trade uncertainty is no longer just a macroeconomic or political issue but is increasingly being felt at the household level, according to new polling from Fidelity Investments Canada ULC.

The FidelityConnects Advisor Pulse Poll, fielded June 11, found nearly half (47 per cent) of financial advisers say clients are raising concerns about trade policy, tariffs and their potential impact on household finances, investments and job security.

“Trade uncertainty has moved from government negotiations and business headlines into everyday financial conversations,” said Chris Pepper, vice-president, corporate affairs at Fidelity.

“Canadians are asking what existing and potentially new tariffs, rising costs and economic uncertainty could mean for their jobs, investments and long-term financial plans. In this environment, advisors provide the perspective and discipline clients need to stay focused on what they can control and help them avoid making emotional decisions based on short-term developments.”

Advisers said the most common client concerns include rising costs resulting from tariffs or supply chain disruptions (63 per cent), market volatility linked to trade and geopolitical developments (43 per cent) and job security and income stability (24 per cent).

One adviser noted: “[My clients are concerned] that the trade agreement could be scrapped entirely or significantly reduced in scope, creating the potential for new tariffs on goods and, ultimately, higher prices.”

The poll found concerns are most pronounced in Alberta (61 per cent), Quebec (54 per cent) and Atlantic Canada (48 per cent), and among clients working in manufacturing (55 per cent), energy (38 per cent) and agriculture (32 per cent).

“These findings reflect the reality that trade uncertainty affects people differently depending on where they live and how they earn a living,” Pepper said.

Advisers said they are helping clients navigate uncertainty by separating short-term headlines from long-term fundamentals (70 per cent), reinforcing diversification (60 per cent), reviewing retirement and income plans (40 per cent), stress-testing portfolios (18 per cent) and increasing focus on emergency savings (12 per cent).

The poll also suggests younger investors may be particularly influenced by global volatility, with 37 per cent of advisers saying they expect younger clients to pay closer attention to geopolitical risks and 26 per cent saying they may become more cautious.

“Trade tensions and geopolitical uncertainty are definitely showing up in more conversations with younger investors,” one adviser said.

“Many get their financial news through social media and are exposed to a constant stream of headlines, which can amplify concerns about market volatility and global events. What I’ve observed is not necessarily a change in their long-term goals but a greater tendency to question whether they should wait to invest or make tactical changes based on current events.”

Pepper said the findings highlight the importance of advice in a complex environment.

“Markets have always faced periods of uncertainty, but today’s investors are processing more information and more noise than ever before,” he said. “Trusted advice can help investors maintain confidence, stay disciplined and keep their long-term objectives front and centre.”

The FidelityConnects Advisor Pulse Poll surveyed between 360 and 642 advisers during a June 11 webcast titled “Canada’s Moment: Opportunities You Can’t Ignore.”