BMO InvestorLine Study: Canadians Understand the Value of Research When Making Online Investing Decisions
TORONTO, ONTARIO--(Marketwire - April 17, 2012) - BMO InvestorLine today announced the results of a study indicating that the overwhelming majority (88 per cent) of Canadian online investors find that extensive research resources and educational tools such as online seminars, webcasts and newsletters are critical in helping them make effective investment decisions.
"It's very encouraging that Canadians appreciate the value of having access to current and credible research and educational tools when deciding how to invest their money," said Cesar Rainusso, Vice President, BMO InvestorLine. "We're committed to continuously looking at new ways to help our clients access the research and tools they need to be confident investors. Our innovative online platform is based on rich tools and resources that are always evolving to remain ahead of the trends."
The survey, conducted by Leger Marketing for BMO InvestorLine, also found that half of Canadians are looking for the following in online investing services:
- A wide range of investments to buy and sell (e.g. securities, ETFs, mutual funds, etc.)
- Access to a variety of accounts (e.g. RRSPs, TFSAs, etc.)
- Strong customer service support
Other key findings:
- Online investors in Alberta (92 per cent) are the most likely in the country to find access to research and educational tools important.
- Male online investors are more interested in having access to a wide range of investments to buy and sell compared to women (57 per cent versus 41 per cent).
- Six in ten Prairie residents prefer access to a variety of accounts (RRSPs, TFSAs) in their online investing platform (59 per cent).
As Canadians become increasingly savvy online investors, BMO InvestorLine has continued to launch new tools and enhancements to existing features, including:
- My Holdings: New enhancements provide greater insight into portfolios with detailed information on asset allocation and securities performance.
- ETF Screener & Compare Tool: Investors are able to search, compare, and access comprehensive data on a broad range of ETFs, including top ten holdings, historical performance returns and full quote details.
- Morningstar Credit Reports: Investors can access Morningstar Credit Reports for over 300 North American-listed companies, including 20 Canadian companies. BMO InvestorLine is the first online brokerage to offer this resource.
- Morningstar Canadian Pick Lists: Pick Lists feature the most attractively valued Canadian large cap and top dividend-paying Canadian equities. Investors can also access detailed equity reports for each company listed on the Pick Lists.
The survey was completed on-line from March 12th, 2012 to March 15th, 2012 using Leger Marketing's online panel, LegerWeb, with a sample of 1501 Canadians. A probability sample of the same size would yield a margin of error of ± 2.5 per cent, 19 times out of 20.
To learn more about online investing, please visit www.bmoinvestorline.com.
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Amanda Robinson, Toronto
Sarah Bensadoun, Montreal
Laurie Grant, Vancouver