New survey finds 85% of Canadians don't trust finfluencers for financial guidance
Despite the rapid rise of financial influencers on social media, Canadians continue to rely on professional advisors when making meaningful money decisions and they are just as cautious about artificial intelligence.
The finding, drawn from new survey data, carries a direct message for mortgage brokers positioning themselves as trusted, advice-first professionals in a market stretched by economic anxiety.
Primerica Canada's 2026 Financial Security Monitor (FSM) survey, conducted online from April 5–8 by polling firm Change Research with 909 adult Canadians, found that 85% of respondents do not trust financial advice from so-called finfluencers.
A further 71% say they would not consider turning to them at all.
When ranked for credibility, professional financial advisors led every category at 60%, ahead of family members at 49%, bank staff at 37%, and friends at 32%.
"When it comes to protecting their financial future, Canadians are making it clear that they still value trusted, professional guidance over advice on social media," said John A. Adams, chief executive officer of Primerica Canada.
"At a time when many families are feeling pressure from rising costs and economic uncertainty, people want credible information and real conversations they can trust."
For mortgage brokers, that consumer instinct maps directly onto the channel's core value proposition. Brokers who build genuine client relationships will win the open-banking era as competitive advantage increasingly rests on trust and relational depth — assets finfluencers and AI tools have yet to replicate.
Canadians equally skeptical about AI
The wariness extends well beyond social media. Three-quarters of FSM respondents (76%) said they are not interested in using AI tools such as ChatGPT to assist with budgeting, saving, investing, or retirement planning, according to the survey.
An even higher share, or 79%, said they would choose human advice over AI or finfluencers when making significant financial decisions.
That result is consistent with what mortgage professionals are observing on the front lines. Borrowers under financial pressure still want a trusted person and are actively seeking one out.
Rob Jennings, broker at East Coast Mortgage Brokers, said longer amortization can ease monthly payments but often comes with significantly higher long term interest costs that clients may underestimate.https://t.co/5xA0Lbnz7D
— Canadian Mortgage Professional Magazine (@CMPmagazine) June 3, 2026
Financial stress remains acute across Canada
The FSM survey paints a sobering picture of household sentiment. Nearly six in 10 respondents (59%) cited inflation as a top concern, while 51% worry about illness or injury and an equal share are concerned about affording groceries, according to the Primerica Canada data.
Nearly half (49%) fear another major economic recession, and 60% report that their personal financial situation has worsened over the past 12 months.
Looking ahead, more than three-quarters (76%) expect their finances to stay the same or worsen over the next year, with 76% holding negative views of the national economy and 78% negative on their province or territory.
Access, however, remains a barrier: 81% of respondents said everyone should have access to a professional financial advisor, while 60% cited excessive complexity in financial transactions and 49% said professional advice is too expensive.
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