BMO Financial Group

BMO Financial Group
BMO Nesbitt Burns

BMO Nesbitt Burns

July 19, 2011 09:00 ET

Ontarians Are Bullish on Investing: BMO Nesbitt Burns

- More than three-quarters of Ontarians hold investments

- However, barely half have a financial plan

- Nationally, the vast majority of Canadians are confident they are managing their investment portfolios well

TORONTO, ONTARIO--(Marketwire - July 19, 2011) - BMO Nesbitt Burns today released the results of study which reveal that almost 80 per cent (78 per cent) of Ontarians hold investments. This ranks Ontario among the leading regions in Canada when it comes to the percentage of residents who invest.

Regional Highlights

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

  • Barely half (51 per cent) of Ontario residents have a financial plan
  • Ontarians invest in Registered Education Savings Plans more than any other region (20 per cent)
  • More than 80 per cent (81 per cent) are confident that they are managing their investments well
  • Only 57 per cent know what specific investments they hold within their investment portfolio

"It's good to see that Ontarians are investing in great numbers and that the vast majority are confident they are managing their investments well," said Stuart Hinshelwood, Equity Specialist, BMO Nesbitt Burns. "We encourage Ontarians to consider building a financial plan and to also become better acquainted with what's in their portfolios. Without a fundamental knowledge and understanding of what you hold, it's difficult to properly plan for the future and set effective investment objectives."

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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