Survey: Canadians Trust CLU Designation

CLUs report higher compensation levels

January 31, 2006, Toronto, ON – Financial advisors holding the CLU (Chartered Life Underwriter) designation continue to enjoy strong trust among consumers according to a survey released today by the CLU Institute.

The CLU Institute surveyed CLUs on a number of issues related to their practice, including the size and scope of their practice, experience levels, and compensation. Data was collected from November 16 to December 5, 2005. The sample size is 797 with a population of 3,400. Response rate is 23.4* per cent for the survey.

The Institute administers and promotes the CLU designation. It also administers the Code of Professional Conduct for Advocis, The Financial Advisors Association of Canada.

The survey questioned CLUs about the size of their practices. More than 37 per cent of CLUs provide advice to over 400 individual and/or corporate clients. 79.3 per cent advise more than 100 clients.

Clients trust CLUs with their wealth. 59.6 per cent of CLUs manage over $10 million of assets in their practice.

“Consumers vote with their money,” said CLU Institute chair Kris Birchard, CLU. “That so many choose to entrust so much to CLU advisors speaks to the confidence consumers place in CLU designated advisors.”

The survey shows CLUs are highly experienced with 90.1 per cent reporting a minimum ten years experience. 24.3 per cent of CLUs have more than 30 years experience. 63.3 per cent of CLUs have held that designation for more than ten years.

“Long experience, coupled with the highest professional standards and specialty education ensures that the CLU designation continues to set the mark for excellence in advanced life insurance, tax and estate planning,” said Birchard. “Judging from the results of our survey, Canadians agree.”

Through a comprehensive curriculum, the CLU Institute equips advisors with the most relevant, up-to-date education in advanced tax issues, estate planning, and law as it applies to financial planners, insurance companies, and negotiation. Many advisors who hold the Certified Financial Planner (CFP�) designation elect to earn the CLU designation to expand their expertise into these areas.

For those pursuing or contemplating the pursuit of a CLU designation, the survey offers plenty of incentive. 81.2 per cent of CLUs earn a six figure gross annual income, with more than 46 per cent grossing over $200,000 per annum.

Tables and findings are found at

About the CLU Institute

The CLU Institute is the accreditation, education, disciplinary and marketing body for the Chartered Life Underwriter of Canada designation. CLU advisors are experts in advanced life insurance applications, tax and estate planning solutions. The Institute’s website is

About Advocis

Advocis, The Financial Advisor Association of Canada, is the oldest and largest voluntary professional membership association of financial advisors. With more than 12,000 advisors in 49 chapters across Canada, Advocis members provide financial and product advice to millions of Canadians across a variety of distinct areas, including: estate and retirement planning, wealth management, risk management, and tax planning. Members adhere to a strict professional Code of Conduct, subscribe to standards of best practice, meet ongoing continuing education requirements, maintain appropriate levels of professional liability insurance and are committed to putting their client interests first. The Association’s website is