New index measures industry confidence

There’s a new way to tell if your colleagues and clients are optimistic about the economy and where it’s headed.

Advocis and Western University have developed a proprietary industry benchmark to measure advisor confidence across Canada.

Read: Consumer confidence sinks

Based on the views and sentiments of advisors, the Advocis Financial Advisors Index (FAI) will measure advisor confidence, which is defined as the degree of optimism about the state of the economy expressed by advisors and their clients through their savings, investing and risk protection activities.

“We believe the index will provide great value to governments, regulators, the media and the public in what financial advisors have to say about the state of the economy and where they believe it is headed,” says Advocis president and CEO Greg Pollock.

Read: How to break a bad mood

Over the next five years, a group of advisors will participate in a monthly survey that will gauge clients’ confidence levels in achieving their financial goals, and identify the most critical threats to their financial well-being, among other indicators.

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.