Canadians across the generations all have one thing in common when it comes to money, according to new research from Investor Education Fund (IEF). As the financial priorities of Canadians change over a lifetime, so do the sources of their investing angst.
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TORONTO, ON. Oct. 30, 2014 – According to a new Investor Education Fund (IEF) study, online investor education can be effective in influencing investor behaviour. Survey results suggest that investor education inspires people to more actively look out for their own interests, whether working with an advisor or on their own.
The Insights on Canadians and online investor education report surveyed more than 1000 visitors to IEF’s website GetSmarterAboutMoney.ca, Canada’s largest online financial education destination. A small segment (11 per cent) of website visitors work in the financial industry. Of the remaining survey respondents, two-thirds (66 per cent) are looking for information about investments. The majority of this report focuses on the findings related to this segment.
- Visits to GetSmarterAboutMoney.ca are a catalyst for investment behaviour change; learning outcomes include: asking their advisor better questions, starting or updating a financial plan and shopping around for financial products and services to get better value.
- Barriers to investing confidence exist for investors of all ages, but different age groups face different types of challenges.
- Female survey respondents experience more knowledge-related obstacles to investing confidence than men do.
- Investment advisors hold a significant amount of influence on decision-making.
- GetSmarterAboutMoney.ca is a national resource for investor education, with a high satisfaction rating.
About the survey:
The survey was conducted online in 2014 via a link on GetSmarterAboutMoney.ca. The responses of 1,001 website visitors were analyzed by The Strategic Counsel on behalf of IEF.