Professional Financial Trust
New Survey Shows 85% of Canadians Trust Professional Financial Advice Over Social Media 'Finfluencers'
A new survey by Primerica Canada finds that 85% of Canadians do not trust financial advice from social media "finfluencers" — people who share money tips online. Toronto Sun reported that 71% of Canadians would not even consider turning to them for guidance, and 79% would pick a human advisor over AI or influencers when making a major money decision.
The results come from Primerica Canada's 2026 Financial Security Monitor survey, released June 11. They point to a clear public preference for licensed professionals at a time when 59% of Canadians say inflation is their top worry and 51% fear a coming recession, Weekly Voice reported.
Canadians Rate Professional Advisors Far Above Online Creators
In the survey, professional financial advisors earned a 60% trust rating — the highest of any source tested. That is a sharp contrast to finfluencers, who scored near the bottom. John A. Adams, CEO of Primerica Canada, said: "Canadians are making it clear that they still value trusted, professional guidance over advice on social media — especially when feeling pressure from rising costs."
The data also shows 76% of Canadians have no interest in using AI tools like ChatGPT for financial planning. Sault This Week noted that the survey paints a picture of consumers moving away from digital shortcuts and toward long-term planning with licensed reps.
Regulators Cracked Down on Finfluencers in Late 2025
The trust numbers did not appear out of nowhere. In December 2025, Canadian regulators issued Joint Staff Notice 31-369 — a landmark set of rules defining when "educational" social media content crosses the line into regulated financial advice. The notice was issued jointly by the Canadian Securities Administrators and the Canadian Investment Regulatory Organization.
Before that, in April 2025, the Ontario Securities Commission found that 35% of retail investors had made financial decisions based on unvetted social media advice. Regulators also found that people who follow finfluencer advice are 12.2 times more likely to be scammed than those who do not, Fort McMurray Today reported.
Gen Z Still Watches, But Trust Remains Low Across the Board
Not everyone has fully turned away from social media finance content. Research suggests 94% of Gen Z Canadians still watch financial creators regularly. But analysts say younger users treat social media as a discovery tool — a way to find topics — not as a source of decisions. "Social proof" from high follower counts is losing its pull.
Higher-income Canadians, those earning $150,000 or more, are actually more likely to use finfluencer content than lower-income groups — but mainly to validate choices they have already made with a professional. The survey shows the real concern sits with middle-income families, who The Crag and Canyon noted are the primary group moving back to licensed advisors.
What the Shift Means for Canadian Households Going Forward
The move toward human-led advice could cut fraud-related losses tied to social media scams. Retirement security is also at stake: 71% of Canadians currently worry they will not have enough saved for retirement, PR Record Gazette reported. Primerica argues that replacing passive scrolling with active planning could help close that gap.
Regulators are expected to tighten enforcement of the 2025 rules. Finfluencers who fail to register or do not disclose paid relationships face real penalties, as seen in sanctions handed down by the Alberta Securities Commission in 2025. Adams summed up the mood this way: "Anxiety doesn't turn into action — confidence turns into action."
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