TORONTO, ONTARIO — (Marketwired) — 08/23/13 — A study released today by BMO InvestorLine has found that, despite the increasing popularity and adoption of social media, Canadian investors still rely on traditional news media as sources for investing information and advice.
According to the study, more than half (57 per cent) of investors rely on traditional media sources, whereas only one-third look to social media for information. The specific media platforms used as sources by investors include:
“It-s interesting to see that, while an increasing number of Canadians have been embracing social media for a variety of reasons, investors still prefer more -traditional- media sources for the information and advice they need,” said Viki Lazaris, President and CEO, BMO InvestorLine. “Regardless of where you get your investing information, do your due diligence and ensure it-s coming from a reputable source.”
When asked how much Canadian investors trust these platforms, the study found that, on average, traditional media sources were trusted by 61 per cent of investors, while social media sources were trusted by 24 per cent. Specifically:
However, for social media:
Ms. Lazaris noted that BMO InvestorLine offers various tools, research and educational sources to help investors make informed decisions, including:
The results cited in this report come from an online survey fielded by Pollara between July 26th and 30th, 2013 with a sample of 1,020 Canadians 18 years of age and older. Overall results for a probability sample of this size would be accurate to +/- 3.1%, 19 times out of 20.
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BMO InvestorLine Inc. and BMO Ligne D-action Inc. provide this commentary to clients for informational purposes only. The information contained herein is based on sources that we believe to be reliable, but is not guaranteed by us, may be incomplete or may change without notice. The comments included in this document are general in nature, and professional advice regarding an individual-s particular position should be obtained. BMO InvestorLine Inc. is a member of BMO Financial Group.
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Contacts:
Media contacts:
Amanda Robinson, Toronto
416-867-3996
Valerie Doucet, Montreal
514-877-8224
Laurie Grant, Vancouver
604-665-7596