More than half of Canadians are seeking tools to help them invest smarter

BMO SmartFolio, a part of BMO Wealth Management, today released the results of its latest survey, which examines Canadians’ knowledge and opinions about investing and, in particular, digital investing.

 The BMO study found that nearly half of Canadians (46 per cent) are intimidated by investment decisions – almost two thirds feel they need to learn more about investing (60 per cent) and 38 per cent feel that they don’t have enough time to invest.

“In the past, only investors who had the time and knowledge to trade their own portfolios would invest online,” said Silvio Stroescu, Head of Digital Investing, BMO Wealth Management. “Digital solutions have transformed traditional investing and redefined who can invest online, yet some still feel intimidated by having to decide what and where to invest.”

Mr. Stroescu added that making investment decisions can be particularly intimidating for younger investors with less experience in navigating the vast array of investment choices.

Invest online, not alone

According to the study, more than half of Canadians (53 per cent) are seeking tools to help them invest smarter:

  • Baby Boomers – 38 per cent
  • Generation-Xers – 58 per cent
  • Millennials – 67 per cent

For those who are using digital advisors, almost three quarters of Canadian investors (74 per cent) are satisfied with the investment choices made. Baby Boomers were less satisfied with their investment choices (33 per cent) than Generation-Xers (76 per cent) and Millennials (79 per cent).

“No matter their age, we want to help clients overcome any fears and misconceptions they have about investing,” said Mr. Stroescu. “With services like BMO SmartFolio, investing is made easier with the help portfolio management as well as advisor support – including live chat, phone and e-mail – so clients can be assured that they are not making tough investment decisions alone.”

With BMO SmartFolio, a team of expert Portfolio Managers and Chartered Financial Analysts make investment decisions that align to a client’s investment objectives and risk tolerance. Clients are matched to one of five model ETF portfolios that best suit their needs. The model portfolios are monitored and rebalanced when required to help keep clients on track with their investment objectives.

To learn more about BMO SmartFolio, please visit www.bmo.com/smartfolio.

This survey was conducted by Pollara Strategic Insights via an online survey between November 1st and 9th, 2017, with an online sample of 2,501 adult Canadians. Data has been weighted using the latest Canadian census information to be representative in terms of age, gender and region. The margin of error for a probability sample size of 2,501 is ± 2.0%, 19 times out of 20.

About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider – the 8th largest bank, by assets, in North America. With total assets of $728 billion as of January 31, 2018, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

SOURCE BMO Financial Group

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