Overall, Canadians report a relatively low investment knowledge level with 71% saying they are Somewhat Knowledgeable or Not Knowledgeable at all. The percentage of investors citing a higher level of investment knowledge significantly increases with wealth and males are more likely than females to say they are knowledgeable.
Roughly three in five (61%) Canadians have a financial advisor but almost half of Canadians indicate they are not actively involved in managing their investments.
On average, those aged 35-44 are more likely to identify long-term returns as the most important factor when making investment decisions; whereas, those aged 55+ were more likely to cite reliance on their financial advisor.
While, as expected, the closer one gets to retirement the more conservative they become (59%), it is interesting to note older and wealthier respondents are still leaning towards growth.