It is well known that an increasing number of Canadians love using the Internet for news, shopping and social networking. Today, BMO InvestorLine released a survey revealing that, when it comes to online investing, things are no different. In fact, more than one-third (34 per cent) of Canadians have either adopted online investing as a way to make and manage their investments or are considering doing so.
The study also indicates that many Canadians are looking for reputable information and insight for their online investing experience, with nearly half (45 per cent) of all respondents stating that they are seeking more investment knowledge. One third (33 per cent) express concern about investing without what they consider to be adequate advice.
"Investors who are considering online investing should be searching for an online brokerage that has a robust educational platform, a wealth of useful resources and objective third party insights," said Connie Stefankiewicz, President and CEO, BMO InvestorLine. "Beginners and experienced investors alike require an online trading platform that is easy to use and provides access to innovative, leading-edge tools- giving them everything they need to make the most appropriate investment decisions."
Other Key Findings:
-- Canadians who do invest online enjoy the flexibility it provides, with 63 per cent appreciating the ability to invest on their own schedule.
-- Online investors stated that they enjoy having the control and confidence (62 per cent) in making decisions regarding their investments.
-- Among online investors, more than half (55 per cent) invest mostly in individual securities, while a smaller percentage (51 per cent) invest in mutual funds.
When it comes to seeking investment direction, six out of 10 online investors state that the media is their number one source for information, followed by half who use general web searches.
"For those interested in online investing, we recommend taking full advantage of the benefits offered by online brokerage services," adds Ms. Stefankiewicz. "Seek out a platform that will provide you with access to information that is tailored to your individual needs. A good online brokerage will constantly adapt its services and products to meet the specific needs of its clients."
The current services and tools available to online investors are unprecedented. For exaexample, BMO InvestorLine offers an all-in-one investment source, including robust research, third party insights and educational resources. Investors are able to access everything from independent blogs and webcasts to model portfolios and can take advantage of a constantly evolving platform of research tools and resources.