SAINT JOHN – A new study from the Financial and Consumer Services Commission of New Brunswick (Commission) indicates that vulnerable and underserved populations face major barriers when interacting with New Brunswick’s financial markets.
The Commission’s latest survey, conducted by Thinkwell Research, identified gender, disability, and newcomer status as leading barriers to financial confidence.
Among the most striking findings, people living with disabilities report significantly lower confidence in managing their finances—just 72 per cent feel secure about handling their money, compared to 89 per cent of those without disabilities. A gender gap remains pronounced as well, with only 11 per cent of women describing themselves as very knowledgeable about financial matters, versus 33 per cent of men.
The study also shed light on real-world struggles New Brunswickers face every day:
- One in four residents (25%) has been caught off guard by unexpected fees when buying financial products , such as credit cards, investments and mortgages.
- Nearly a quarter (23%) say they have trouble understanding the language in contracts, leaving them uncertain about their obligations.
- About 22 per cent find financial products themselves confusing or difficult to grasp—challenges that hit newcomers and people with disabilities hardest.
“These numbers highlight persistent gaps in financial literacy, not just between men and women, but also among newcomers and persons living with disabilities,” said Marissa Sollows, Director of Communications and Public Affairs for the Commission. “It’s clear that these groups encounter unique, and often daunting, challenges when interacting with regulated financial sectors.”
The survey also highlighted areas where targeted support and outreach can make a real difference, enabling individuals to better understand their finances and feel more confident in managing money, Sollows added.
“By recognizing the unique circumstances faced by women, newcomers and those living with disabilities, the Commission is better informed to create programs that foster financial confidence and close knowledge gaps.”
Online Financial Activity Drives New Risks
The report further found a significant number of New Brunswickers are accessing financial products online, with nearly one in five who obtained a loan in the past year doing so online. Notably, 32 per cent of these online borrowers were newcomers, and 31 per cent identified as having a disability. Investing behaviours are shifting online as well: nearly half of New Brunswickers now describe themselves as DIY or hybrid investors, and reliance on financial advisors has dropped by nine per cent.
However, the move online and away from licensed or registered professionals also increases exposure and vulnerability to online financial fraud. In 2024, the proportion of New Brunswickers reporting monetary losses to scams rose by four per cent, with cryptocurrency scams making up 23 per cent of reported incidents. Newcomers were disproportionately affected, accounting for 20 per cent of those who lost money to scams.
“These results reinforce the importance of ensuring our regulation and education efforts are inclusive and responsive to all New Brunswickers' needs,” Sollows said.
A summary of the survey results can be found on the Commission’s website at FCNB.ca.
About the survey
601 New Brunswick adults (18+) completed the survey online in the official language of their choice between February 15 and 27, 2025. The surveys were conducted using the services of a web research panel provided by Canadian Viewpoints. The final data set was weighted by age, gender, and county to ensure the sample was representative of the New Brunswick population. A probability sample of this size would be expected to yield a maximum margin of error of plus or minus 4.0 percentage points, 19 times out of 20.
The NB Consumer Index Survey findings are used to inform Commission programming and initiatives to enhance financial literacy, protect consumers and promote trust in the financial system.
About the Commission
The Financial and Consumer Services Commission of New Brunswick has the mandate to provide regulatory services that protect the public interest while enhancing public confidence, and to promote understanding of the regulated sectors through educational programs. It is responsible for the administration and enforcement of financial and consumer services legislation for mortgage brokers, payday lenders, real estate, securities, insurance, pensions, credit unions, trust and loan companies, cooperatives, the unclaimed property program, and a wide range of other consumer legislation. It is a Crown corporation funded by the regulatory fees and assessments paid by the regulated sectors. Online educational tools and resources are available at www.fcnb.ca.
Audio files of Marissa Sollows, Director of Communications and Public Affairs
Media Contact:
1 866 933-2222 or media@fcnb.ca.
The Financial and Consumer Services Commission of New Brunswick has the mandate to provide regulatory services that protect the public interest while enhancing public confidence, and to promote understanding of the regulated sectors through educational programs. It is responsible for the administration and enforcement of financial and consumer services legislation for mortgage brokers, payday lenders, real estate, securities, insurance, pensions, credit unions, trust and loan companies, cooperatives, the unclaimed property program, and a wide range of other consumer legislation. It is a Crown corporation funded by the regulatory fees and assessments paid by the regulated sectors. Online educational tools and resources are available at www.fcnb.ca.