More Young Canadians Now Use AI Than Licensed Brokers for Financial Advice, and Half Don’t Know AI Advice Is Unregulated

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Postmedia has not reviewed the content. by GlobeNewswire More Young Canadians Now Use AI Than Licensed Brokers for Financial Advice, and Half Don't Know AI Advice Is UnregulatedAuthor of the article: You can save this article by registering for free here. Or sign-in if you have an account.Among Canadians aged 18 to 29, more used AI tools like ChatGPT for financial or mortgage advice in the past year (26%) than used a licensed mortgage broker (17%), a new REMIC and Abacus Data survey finds, as Canada’s peak mortgage renewal year unfoldsTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountTORONTO, July 20, 2026 (GLOBE NEWSWIRE) — The next generation of Canadian homebuyers is already routing around the regulated mortgage advice channel, according to new national data released today by the Real Estate and Mortgage Institute of Canada (REMIC) and conducted by Abacus Data.The survey of 1,910 Canadian adults found that among those aged 18 to 29, more used AI tools such as ChatGPT, Claude, or Gemini for financial or mortgage advice (26%) than used a licensed mortgage broker or financial advisor (17%). The pattern reverses with age: among Canadians 60 and over, only 3% used AI while 12% used a licensed broker.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe shift is generational rather than universal. Nearly half of Canadians (46%) did not seek financial advice from any source in the past year, but the youngest cohort is adopting AI faster than any other.Only 9% of Canadians believe AI chatbot mortgage advice is regulated the same way as advice from a licensed broker. 45% know it is not, and 46% are unsure. Among 18-to-29s, half either believe it is regulated or do not know.Nearly three in ten Canadians aged 18 to 29 (29%) have already made a financial or mortgage decision based mainly on AI or a social media influencer. More than half of them report negative or mixed outcomes.Among homeowners aged 18 to 29, 13% will rely primarily on AI or online tools at their next mortgage renewal, versus 4% of all homeowners.“More young Canadians are reaching for AI than for licensed brokers when they need financial advice. Half of them have no idea AI advice is unregulated. That’s not a consumer awareness problem. That’s a consumer protection gap, and Canada hasn’t decided what to do about it,” said Joe White, Founder and CEO of REMIC and co-author of FINFLUENCER.Methodology: These findings are based on an online survey of 1,910 Canadians aged 18 and older conducted from May 28 to June 2, 2026, using partner panels on the PureSpectrum exchange platform. The margin of error for a comparable probability-based sample is +/- 2.24%, 19 times out of 20, and is larger for sub-groups. Data were weighted by census figures for age, gender, education, and region. Totals may not add to 100 due to rounding.About REMIC: The Real Estate and Mortgage Institute of Canada is the country’s largest mortgage and insurance education company. Founded in 2008 and headquartered in Toronto, REMIC is approved by the Financial Services Regulatory Authority of Ontario (FSRA), has trained more than 90,000 professionals, and was named Industry Service Provider of the Year at the 2024 Canadian Mortgage Awards. Founder Joe White was inducted into the Canadian Mortgage Hall of Fame in 2019.Full data tables and crosstabs available on request. Joe White is available for interviews.Media Contact: Yasmine Pourseyed, REMIC, yasmine.pourseyed@remic.ca, 647.572.1169This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.