TORONTO, ONTARIO — (Marketwire) — 07/19/11 — In a search for the nation-s “savviest” investors, BMO Nesbitt Burns conducted a national study which revealed that most Canadians hold investments and are confident they are managing their portfolios well. However, according to the results, released today, only a narrow majority report having a financial plan in place. The study also found that Alberta-s investors lead the country in key categories, including having investments and general knowledge about various investment products.
The study conducted by Leger Marketing indicates that almost three-quarters (72 per cent) of adult Canadians hold investments and 83 per cent of them are confident they are managing their investments well.
Yet, despite this encouraging news, the results also show that barely half of Canadians (51 per cent) have a financial plan.
“Without a written financial plan, it is often difficult for investors to identify and follow through on their investment goals,” said Stuart Hinshelwood, Equity Specialist, BMO Nesbitt Burns. “A plan not only helps you work toward your goals, but also allows you to plan for specific time horizons, risk tolerance and the correct asset mix according to your goals. Working with a financial professional can help get you there.”
Albertans are Canada-s “Savviest” Investors:
Albertans led the way in several general investing areas, including:
“Our study indicates that Albertans are clearly ahead of the curve,” said Mr. Hinshelwood. “It-s encouraging that investors in Alberta show such confidence and engagement with their investments.”
Key Regional Findings:
Men versus Women:
The study also revealed that 41 per cent of Canadian investors do not know what specific investments they hold in their portfolios, with men (67 per cent) more likely to know than women (51 per cent).
“We believe that through increased educational efforts tailored to women, along with the fact that they are controlling more and more wealth in Canada, women will increasingly become more involved in and knowledgeable about the make-up of their investment portfolios – an objective we encourage all investors to pursue,” added Mr. Hinshelwood.
The online survey was conducted by Leger Marketing from June 13 – June 16, 2011, with 1501 Canadian adults.
Contacts:
Amanda Robinson, Toronto
416-867-3996
Sarah Bensadoun, Montreal
514-877-8224
Laurie Grant, Vancouver
604-665-7596