DIY investors dive into research
BY Vikram Barhat for Advisor.ca | April 19, 2012
Canada’s do-it-yourself crowd is investing considerable time and effort in research to make educated investment decisions, according to a BMO InvestorLine survey.
The results noted that the overwhelming majority (88%) of those polled find that extensive research resources and educational tools such as online seminars, webcasts and newsletters are critical in helping them make effective investment decisions.
“It’s very encouraging that Canadians appreciate the value of having access to current and credible research and educational tools when deciding how to invest their money,” said Cesar Rainusso, vice-president, BMO InvestorLine. “We’re committed to continuously looking at new ways to help our clients access the research and tools they need to be confident investors.”
The study found that the most sought-after online investing services include a wide range of investments such as securities, ETFs and mutual funds; access to a variety of accounts such as RRSPs and TFSAs and strong customer service support.
The results show online investors in Alberta (92%) are the most likely in the country to find access to research and educational tools important. Male online investors (57%) are more interested in having access to a wide range of investments compared to women (41%). Six in ten Prairie residents prefer access to a variety of accounts (RRSPs, TFSAs) in their online investing platform (59%).