BMO Financial Group

BMO Financial Group
BMO Nesbitt Burns

BMO Nesbitt Burns

July 19, 2011 08:00 ET

Atlantic Investors Are the Most Confident In Canada: BMO Nesbitt Burns

- Atlantic residents are the most confident in Canada when it comes to managing their investments

- However, they are the least likely in the country to invest

- Almost three-quarters of Canadians hold investments

- Barely half of the nation has a financial plan

HALIFAX, NOVA SCOTIA--(Marketwire - July 19, 2011) - BMO Nesbitt Burns today released the results of study which reveal that investors in Atlantic Canada are the most confident investors (94 per cent) in Canada.

Regional Highlights:

The study, conducted by Leger Marketing, also revealed the following about Atlantic Canada:

  • Atlantic Canadians are the least likely (58 per cent) in Canada to hold investments
  • Barely half (53 per cent) have a financial plan
  • When it comes to general knowledge about specific types of investments, the region's investors are mostly familiar with bonds (53 per cent) followed by Guaranteed Investment Certificates (52 per cent)

"While it's promising to see Atlantic Canadians are such confident investors, we strongly encourage those in the region who don't invest to start doing so," said Stuart Hinshelwood, Equity Specialist, BMO Nesbitt Burns. "You don't need to have a lot of money. The key is to start as early as possible, identify your financial goals and start setting aside some money, even if it's just a small amount, on a regular basis."

National Highlights:

  • Almost three-quarters of Canadians hold investments (72 per cent)
  • 83 per cent are confident they are managing their investments well

One of the more concerning results of the study is that only a slim majority (51 per cent) of Canadians have a financial plan in place.

"Although creating a financial plan may seem like a difficult task to undertake, a financial professional can help," said Mr. Hinshelwood. "They can work with you to define your goals, identify your risk tolerance and find the correct asset mix that's right for you."

Albertans are Canada's "Savviest" Investors:

Albertans led the country in several general investing areas covered by the study, including:

  • Highest percentage (84 per cent) holding investments
  • Knowing what they hold in their investment portfolios (68 per cent)
  • General familiarity with specific investments such as equities, mutual funds, exchange traded funds, bonds and GICs.

The online survey was conducted by Leger Marketing from June 13 – June 16, 2011, with 1501 Canadian adults.

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