News Releases

TORONTO, ONTARIO--(Marketwire - Feb. 6, 2012) - A Registered Retirement Savings Plan (RRSP) is a fundamental component of a retirement plan, providing investors tax breaks with each contribution as well as the advantage of tax-free growth. BMO InvestorLine recommends that Canadians take advantage of the benefits that come with opening an RRSP through an online brokerage.

A growing number of Canadians are choosing to do their investing through an online brokerage. According to a BMO InvestorLine study, more than one-third (34 per cent) of Canadians have either adopted online investing as a way to make and manage their investments, or are considering doing so.

"Holding an RRSP with an online brokerage can provide several benefits, including greater flexibility, control over your investments and convenience," said Cesar Rainusso, Vice President, BMO InvestorLine. "Online investing platforms are continuously evolving to make it easier for investors to make the right choices, while also providing educational resources and tools."

An online brokerage service provides the following advantages:

Gain control of your retirement - Investing independently allows investors to take control of decisions that will impact their retirement. Online brokerages can provide support along the way, offering resources that can help make these decisions. BMO InvestorLine's Research Centre and Education Centre have a vast array of resources that can help make informed investment decisions.

Valuable tools to help you manage your RRSP with confidence - Online brokerages offer a variety of tools, some that include the ability to set stop orders which allow you to protect your portfolio on the downside of the market, and lock in gains on the upside - even when you're not watching.

Contribute with ease - BMO InvestorLine's Pre-Authorized Registered Contribution process allows investors to withdraw a fixed sum directly from their bank account - monthly, quarterly or annually - and deposit it into their RRSP, making investing a (good) habit rather than a chore.

Access to a wide array of investments - Online brokerages offer a wide variety of investing options - including exchange traded funds (ETFs), mutual funds, guaranteed investment certificates (GICs) and bonds - and enable investors to select the products best suited to meet their investment objectives.

Find the plan that's right for you - BMO InvestorLine offers several types of tax-sheltered retirement plans including standard RRSPs, spouse/common-law partner RRSPs and locked-in retirement plans.