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BMO InvestorLine

January 21, 2014 06:00 ET

BMO InvestorLine Study: Three-in-four Canadian Investors Feel That Technology Has Made Them Better Investors

- Seventy-three per cent feel that technology has helped them become more informed investors

- Financial news websites, real-time stock websites and online brokerages ranked as the top technology platforms for receiving information

- Eighty-seven per cent of Canadians feel that personalized advice is a top influencer when looking to make informed investment decisions

TORONTO, ONTARIO--(Marketwired - Jan. 21, 2014) - According to a new study by BMO InvestorLine, almost three-quarters of Canadians (72 per cent) believe that technology has played a significant role in helping them become better investors.

The study also identified the ways in which technology has enhanced Canadians' ability to manage their portfolios. These included:

  • Making them more informed (73 per cent)
  • Providing more sources for advice (68 per cent)
  • Allowing them to act faster (59 per cent)
  • Simplifying things (57 per cent)
  • Providing greater convenience (57 per cent)

In terms of the types of online sources Canadians are using for investing information, the top sites identified included:

  • Financial news websites (46 per cent)
  • Real-time stock websites (32 per cent)
  • Educational resources provided by online brokerages (29 per cent)

"Over the last two decades, technology has played a transformational role in all aspects of our lives - including how Canadians invest," said Viki Lazaris, CEO, BMO InvestorLine. "As the top ranked online brokerage in Canada, BMO InvestorLine is focused on leveraging the latest technologies to help our clients be more confident in managing their portfolios and make more informed investing decisions."

Personalized Advice Identified as Key to Successful Investing

The study also found that Canadians value personalized advice, with 87 per cent stating that such advice ranks as one of the most important factors for them when investing. Further, investors value having access to investing information from credible sources in the digital age, with 50 per cent saying they want to see more such information on the Internet in the future.

Ms. Lazaris cited the importance Canadians place on personalized advice as one of the reasons BMO InvestorLine launched adviceDirect, an innovative and first-of-its-kind service in Canada that provides clients with access to personalized advice on an online brokerage platform that leverages the latest technologies. adviceDirect clients have access to a wealth of third-party research from industry leaders including MarketGrader for equities and Lipper for mutual funds. adviceDirect is ideally suited for those who want to manage their portfolios but also appreciate receiving advice when making investment decisions.

For more information on online investing and adviceDirect, please visit www.bmoinvestorline.com.

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About BMO InvestorLine

BMO InvestorLine is an online investing service that provides clients with two ways to invest online. Clients can choose from BMO InvestorLine's top ranked Self-Directed service that provides tools to help investors make independent decisions on how to invest. BMO InvestorLine's other service, adviceDirect™ provides investors with online advice and investment recommendations for their portfolios. Clients have access to trading, quotes and account information 24 hours a day through a website or Automated Telephone Trading. BMO InvestorLine also provides users with third party research, along with leading edge tools that are informative and easy to use. As an all-in-one investment source, it is a constantly evolving, cost-efficient platform that is fully compatible with tablets.

BMO InvestorLine Inc. and BMO Ligne D'action Inc. provide this commentary to clients for informational purposes only. The information contained herein is based on sources that we believe to be reliable, but is not guaranteed by us, may be incomplete or may change without notice. The comments included in this document are general in nature, and professional advice regarding an individual's particular position should be obtained.

An adviceDirect account is a non-discretionary fee based account which offers investment recommendations. adviceDirect does not provide portfolio management by a portfolio manager. The client makes their own investment decisions and manages their own investment portfolio. adviceDirect does not offer discretionary, managed accounts.

BMO InvestorLine Inc. is a member of BMO Financial Group.

® Registered trade-mark of Bank of Montreal, used under licence. BMO InvestorLine Inc. is a wholly owned subsidiary of Bank of Montreal Holdings Inc. Member - Canadian Investor Protection Fund and IIROC.

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