HALIFAX, NOVA SCOTIA — (Marketwired) — 06/13/13 — According to a study released today by BMO Harris Private Banking, the wealthy of Atlantic Canada (defined as those with investible assets of $1 million or more in Nova Scotia, Newfoundland, Prince Edward Island and New Brunswick) are a hard working and entrepreneurial group with the vast majority (83 per cent) making the majority of their wealth on their own and less than 10 per cent inheriting their fortune. The study is the first in a series being released by BMO Harris Private Banking over the next year that examines trends among the wealthy in Atlantic Canada and across North America.
Additional regional highlights from the inaugural study include:
“We are extremely proud to see that the entrepreneurial sprit is alive and well across Atlantic Canada,” said Rick Thomson, Vice President and Market Leader, BMO Harris Private Banking, Atlantic Canada. “It-s particularly encouraging that so many groups are succeeding in business and in increasing their net-worth including women, youth and first generation Canadians. It really goes to show that our region, and indeed all of Canada, is a place of opportunity no matter who you are or where you come from.”
Key National Findings:
On a national level, the study found the following:
Regional Breakdown:
The online survey was conducted by Pollara between March 28th and April 11th, 2013 with a sample of 305 Canadian adults who have $1M+ in investable assets (including a sub-sample of 30 Atlantic Canadians). The margin of error for a probability sample of this size is +/- 5.6%, 19 times out of 20.
About BMO Harris Private Banking
Backed by the stability and resources of BMO Financial Group, professionals at BMO Harris Private Banking are responsible for the successful management of wealth by providing expert advice and highly personalized services in banking, investment management, estate, trust, succession planning and philanthropic services – all with a coordinated and confident approach. With 34 offices across Canada, including Halifax, Montreal, Toronto, Calgary and Vancouver, BMO Harris Private Banking is able to service clients in a variety of languages.
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Contacts:
Media contacts:
Valerie Doucet, Montreal
(514) 877-8224