The role of investor relations as intermediary of financial literacy in Canada

Abstract

Since the 2008 financial crisis, the Canadian government and the financial industry have created programs to help Canadians improve their financial literacy. But these efforts do not appear to be connecting with the public, as research has shown that they remain leery of the financial industry, financial advisors and demonstrate lax personal financial habits. As a way to rebuild trust with the public, investor relations and/or public relations may be able to ameliorate the situation by delivering strategic, easily-understood educational messages designed to promote financial literacy that will resonate with Canadians. While much has been written about literacy in the areas of general education, media and finance, very little research has been conducted about investor relations and financial communications, public relations as it pertains to investor relations, and the communications theory of the investor relations profession. This research paper will examine how and to what extent investor relations and/or public relations professionals play a role as intermediaries of financial literacy in Canada.