According to a research conducted in 2015 by Abacus Data on behalf of the Canada Bankers Association, for Canadians, the most important sources of financial learning come from financial service staff (74% of respondents have claimed that), older generations (71%) or family and friends (66%).

 

Nevertheless, taking under consideration different generations, it occurs that Millennials are more likely to use digital sources in order to learn about finance (social media, websites) comparing to X Generation and Boomers who prefer to gain information from financial staff.

When it comes to trust in sources, financial service provider advice as well as this given from older generation members  is  considered as the most trustworthy (76% of respondent trust them completely or somewhat). The differences between Millenials, Gen Xers and Boomers are not significant, which means that although they differ on how they acquire financial information, they all positively evaluate their access to valuable, trustworthy sources.

Summery by Beata Lewicka

 

Read more: Anderson B., “Trust and Sources of Information”, Abacus Data. Canadian Bankers Association:  www.cba.ca/contents/files/misc/misc_abacus_millennial-polling-report4_en.pdf