Nearly half of Canadian financial advisors say their clients are increasingly raising concerns about trade policy and tariffs as the review of the Canada-U.S.-Mexico Agreement approaches, according to new polling by Fidelity Investments Canada ULC.
The survey, conducted June 11, found 47 per cent of advisors report clients are asking about the potential impact of trade developments on household finances, investments and job security.
The findings suggest trade uncertainty is moving beyond policy discussions into day-to-day financial decision-making, with implications for how advisors guide clients through market volatility and economic risk.
“Trade uncertainty has moved from government negotiations and business headlines into everyday financial conversations,” said Chris Pepper, vice-president of 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.”
According to the FidelityConnects Advisor Pulse Poll, the most frequently cited concerns among clients include rising costs tied to tariffs or supply chain disruptions, identified by 63 per cent of advisors, followed by market volatility at 43 per cent and job security and income stability at 24 per cent.
One advisor described client anxiety over potential changes to the trade pact, saying: “[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.”
Pavel Danilyuk photo
The poll also found that concerns vary by region and industry. Advisors reported the highest levels of client concern in Alberta at 61 per cent, followed by Quebec at 54 per cent and Atlantic Canada at 48 per cent. Clients working in manufacturing, energy and agriculture were more likely to raise trade-related issues.
“These findings reflect the reality that trade uncertainty affects people differently depending on where they live and how they earn a living,” Pepper said. “For many Canadians, especially those in regions and industries exposed to cross-border trade, these developments have direct implications for household finances and future planning.”
In response, advisors say they are emphasizing long-term planning and risk management strategies. The most common approaches include helping clients distinguish between short-term market developments and long-term fundamentals, cited by 70 per cent of respondents, reinforcing diversification at 60 per cent and reviewing retirement and income plans at 40 per cent.
Some advisors are also stress-testing portfolios against different trade scenarios and encouraging greater focus on liquidity and emergency savings.
“We’re encouraging clients to focus on long-term financial planning – building adequate emergency savings, diversifying their investments, and avoiding emotional decisions based on short-term trade headlines,” another advisor added.
The survey also points to potential shifts in how younger Canadians approach investing. More than one-third of advisors, or 37 per cent, said younger investors are likely to pay closer attention to global developments and geopolitical risks, while 26 per cent expect them to adopt a more cautious approach and diversify differently than previous generations.
Vitaly Gariev photo
“Trade tensions and geopolitical uncertainty are definitely showing up in more conversations with younger investors,” another advisor added. “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 underscore the role of financial advice as investors navigate a more complex information 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 advisors during an extended webcast on June 11.
Mario Toneguzzi
Mario Toneguzzi is Managing Editor of Canada’s Entrepreneur. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 and 2024 as one of the top business journalists in the world by PR News. He was also named by RETHINK to its global list of Top Retail Experts 2024, 2025 and 2026.
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