Are tried-and-true investments keeping clients at bay?

Are tried-and-true investments keeping clients at bay?

Are tried-and-true investments keeping clients at bay?

BMO said 84% of Canadian investors believe they are managing their investments well; although one-third don’t know what specific investments they hold in their portfolios. About half of Canadians have a written financial plan, but only one-in-three have updated it in the last year.

Canadian investors are most knowledgeable about GICs, with 58% claiming knowledge, and mutual funds (55%). They were least knowledgeable about ETFs (19%).

The survey found that 80% of investors understand how their investments are impacted by interest rates, 66% understood currency rates and 62% credit ratings. They were less knowledgeable about how stock market fluctuations (54%) and corporate earnings (38%) impact their investments.

Seniors were the most likely to know what specific investments they hold, with 77% knowing what was in their portfolio.

The survey was conducted through online interviews with a random sample of 1,000 Canadians, 18 years of age and over, from May 9-13.

 

 

Overall

Atlantic

Quebec

Ontario

Prairies

Alberta

BC

Savvy Index Score

82

74

76

82

86

88

92

Have financial plan

49%

46%

51%

44%

51%

55%

57%

Plan updated past year

32%

29%

37%

29%

31%

31%

37%

Have investment profile

56%

50%

53%

54%

63%

62%

57%

Profile updated past year

34%

28%

38%

32%

40%

34%

37%

Pay at least some attention to market news

54%

50%

42%

60%

55%

56%

59%

Pay close attention to market news

13%

10%

9%

16%

12%

8%

17%

Knowledgeable - GICs

58%

44%

46%

67%

54%

64%

63%

   – Mutual funds

55%

47%

39%

62%

59%

59%

61%

   – Bonds

48%

43%

48%

46%

55%

49%

48%

   – Equities

40%

31%

35%

43%

37%

38%

46%

   – ETFs

19%

10%

12%

21%

14%

21%

27%

   - Interest rates

74%

72%

67%

75%

81%

79%

77%

   - Currency rates

62%

65%

48%

62%

66%

71%

73%

   - Credit ratings

58%

60%

44%

59%

63%

71%

65%

   - Stock market

54%

48%

42%

58%

57%

54%

62%

   - Corporate earnings

38%

34%

26%

43%

34%

42%

48%

 


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