CIBC Poll: Canadians expecting a Happy Financial New Year - 70 per cent feeling positive about their finances for 2013

CIBC Poll: Canadians expecting a Happy Financial New Year - 70 per cent 
feeling positive about their finances for 2013 
Annual poll reveals confidence in achieving future financial goals is higher 
among Canadians who have met with an advisor in the past year 
TORONTO, Dec. 27, 2012 /CNW/ - A new CIBC (TSX: CM) poll conducted by 
Harris/Decima shows that as Canadians approach the New Year they are generally 
positive about their current financial situation, an increase of 6 per cent 
from a year ago. Canadians are also confident about achieving their future 
financial goals - a trend that was most prevalent among those who have met 
with an advisor in the last year. 
Key findings of this year's poll include: 


    --  The percentage of Canadians who say they feel positive about
        their current financial situation has increased over last year,
        and is now back to the levels seen in 2011:
                                                 
                  2013           2012           2011
                  70%             64%            69%

  o Residents of Ontario (74 per cent) and the Prairies (75 per cent)
    were among the most positive in the country when it comes to their
    current financial situation
    --  Percentage of Canadians who say they are confident they will
        reach their future financial goals:
                                                 
                  2013           2012           2011
                  74%             72%            71%

  o Regionally, residents of the Prairies (84 per cent) and Alberta (82
    per cent) were among the most confident about reaching their future
    financial goals
    --  Canadians are increasingly seeing the value in setting goals
        with 76 per cent saying it's more important today than it was
        five years ago to set financial goals for yourself
    --  More Canadians are also taking their own advice and setting
        goals for the year with 61 per cent of respondents saying they
        generally set financial goals for themselves, compared to 51
        per cent two years ago

"Canadians are entering 2013 with a more positive outlook on their finances 
today, and with the confidence that they can reach their long term financial 
goals," said Christina Kramer, Executive Vice President, Retail Distribution 
and Channel Strategy, CIBC. "The next step is to turn that confidence into 
action by putting plans in place at the start of the year that will help you 
make progress towards the things that matter most to you."

The poll also revealed that one of the keys to a positive outlook on your 
finances is having a discussion with a financial advisor:
    --  Canadians who met with advisor were more likely to feel
        positive about their financial situation today (77 per cent)
        versus those who had not met with an advisor (65 per cent).
    --  They were also more likely to feel confident about reaching
        their future goals (79 per cent vs 70 per cent).
    --  46 per cent of Canadians said they've met with an advisor
        sometime in the last year

"Setting up a conversation with an advisor early in 2013 will only require a 
small time investment, but as we've seen in these poll results, the benefits 
can be significant," added Ms. Kramer. "One of the immediate benefits of 
that conversation is that you will gain a better understanding of where you 
stand today. Then you can lay out some realistic steps to help achieve your 
personal financial goals."

Across age groups, confidence in achieving future financial goals was 
generally strong, although there were different views among some age groups.
    --  For example, among Canadians aged 18-34, 73 per cent say they
        are confident they will reach their future financial goals - a
        decline of 5 per cent from last year.
    --  Conversely, Canadians aged 55 to 64 saw a gain in confidence
        entering the new year with 75 per cent saying they are
        confident they will reach their future financial goals compared
        to just 68 per cent last year.

KEY POLL FINDINGS

Percentage of Canadians feeling positive about their current financial 
situation today, by region:

 ____________________________________
|                     |2013|2012|2011|
|_____________________|____|____|____|
|National Average     | 70%| 64%| 69%|
|_____________________|____|____|____|
|Atlantic Canada      | 65%| 61%| 72%|
|_____________________|____|____|____|
|Quebec               | 68%| 64%| 67%|
|_____________________|____|____|____|
|Ontario              | 74%| 66%| 67%|
|_____________________|____|____|____|
|Manitoba/Saskatchewan| 75%| 70%| 73%|
|_____________________|____|____|____|
|Alberta              | 69%| 72%| 73%|
|_____________________|____|____|____|
|British Columbia     | 65%| 54%| 72%|
|_____________________|____|____|____|

Percentage of Canadians feeling positive about their current financial 
situation today, by age:

 _______________________________
|                |2013|2012|2011|
|________________|____|____|____|
|National Average| 70%| 64%| 69%|
|________________|____|____|____|
|18-24           | 69%| 69%| 66%|
|________________|____|____|____|
|25-34           | 67%| 58%| 73%|
|________________|____|____|____|
|35-44           | 71%| 69%| 68%|
|________________|____|____|____|
|45-54           | 70%| 63%| 68%|
|________________|____|____|____|
|55-64           | 69%| 65%| 69%|
|________________|____|____|____|
|65 and over     | 73%| 66%| 70%|
|________________|____|____|____|

Percentage of Canadians who are confident they will reach their future 
financial goals, by region:

 ____________________________________
|                     |2013|2012|2011|
|_____________________|____|____|____|
|National Average     | 74%| 72%| 71%|
|_____________________|____|____|____|
|Atlantic Canada      | 74%| 78%| 72%|
|_____________________|____|____|____|
|Quebec               | 64%| 60%| 66%|
|_____________________|____|____|____|
|Ontario              | 78%| 76%| 70%|
|_____________________|____|____|____|
|Manitoba/Saskatchewan| 84%| 78%| 69%|
|_____________________|____|____|____|
|Alberta              | 82%| 85%| 77%|
|_____________________|____|____|____|
|British Columbia     | 72%| 70%| 78%|
|_____________________|____|____|____|

Percentage of Canadians who are confident they will reach their future 
financial goals, by age:

 _______________________________
|                |2013|2012|2011|
|________________|____|____|____|
|National Average| 74%| 72%| 71%|
|________________|____|____|____|
|18-24           | 73%| 78%| 76%|
|________________|____|____|____|
|25-34           | 74%| 78%| 75%|
|________________|____|____|____|
|35-44           | 75%| 74%| 69%|
|________________|____|____|____|
|45-54           | 74%| 70%| 71%|
|________________|____|____|____|
|55-64           | 75%| 68%| 69%|
|________________|____|____|____|
|65 and over     | 74%| 70%| 69%|
|________________|____|____|____|

Each week, Harris/Decima interviews just over 1000 Canadians through teleVox, 
the company's national telephone omnibus survey. These data were gathered in a 
sample of 2,009 Canadians between October 25th and November 4, 2012. A sample 
of this size has a margin of error of +/-2.2%, 19 times out of 20.

CIBC is a leading North American financial institution with nearly 11 million 
personal banking and business clients. CIBC offers a full range of products 
and services through its comprehensive electronic banking network, branches 
and offices across Canada, and has offices in the United States and around the 
world. You can find other news releases and information about CIBC in our 
Press Centre on our corporate website at www.cibc.com.

Kevin Dove, Head of External Communications and Media Relations, CIBC:  (416) 
980-8835 orKevin.dove@cibc.ca

Image with caption: "Canadian Financial Confidence Entering 2013 (CNW 
Group/CIBC)". Image available at:  
http://photos.newswire.ca/images/download/20121227_C3433_PHOTO_EN_22207.jpg

SOURCE: CIBC

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CO: Canadian Imperial Bank of Commerce
ST: Ontario
NI: FIN ECOSURV ECO 

-0- Dec/27/2012 11:00 GMT


 
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