Poll shows that your knowledge is as valuable as ever
Millennial investors are increasingly confident in managing their money online but may be risking mistakes when managing their investments.
A report from ATB Financial shows that 43% of Canadian millennials are much more comfortable using an app or other online portal to manage their finances compared to Gen-X (27%) or Baby Boomers (22%).
"Online investing isn't new, but the fast pace at which it's evolving to make managing your money easy, informative, and accessible is particularly appealing to the millennial generation," says Chris Turchansky, president of ATB Investor Services.
But when it comes to their investments, only a quarter of millennials said they are familiar with the risks from their investments and understand the types of investments they have.
Younger investors are more likely than older generations to do research online about investments and financial advisors, which shows the value of ensuring that your website and other online touchpoints provide relevant resources.
A hybrid of online investing and using the services of a financial advisor is the choice of a third of millennial investors and this is frequently the option used by older investors.
The ATB poll of Albertans shows that 57% view their investments online but 42% continue to invest with a financial advisor and only 23% have bought or sold investments online.
A report from ATB Financial shows that 43% of Canadian millennials are much more comfortable using an app or other online portal to manage their finances compared to Gen-X (27%) or Baby Boomers (22%).
"Online investing isn't new, but the fast pace at which it's evolving to make managing your money easy, informative, and accessible is particularly appealing to the millennial generation," says Chris Turchansky, president of ATB Investor Services.
But when it comes to their investments, only a quarter of millennials said they are familiar with the risks from their investments and understand the types of investments they have.
Younger investors are more likely than older generations to do research online about investments and financial advisors, which shows the value of ensuring that your website and other online touchpoints provide relevant resources.
A hybrid of online investing and using the services of a financial advisor is the choice of a third of millennial investors and this is frequently the option used by older investors.
The ATB poll of Albertans shows that 57% view their investments online but 42% continue to invest with a financial advisor and only 23% have bought or sold investments online.
