Number of self-directed investors could double within a
decade
TORONTO,
Nov. 24, 2015 /CNW/ - A recent TD
survey found that nine in 10 Canadians surveyed who use
self-directed investing are happy with their experience, and the
number of investors who are managing at least part of their
investments directly could double within the next 10 years. About
one third (34 per cent) of Canadians surveyed who don't currently
do any self-directed investing say they would consider doing so in
the future, joining the 27 per cent of Canadians surveyed who
already have self-directed accounts.
"Many self-directed investors tell us they like the flexibility
and control of managing their investment decisions, as opposed to
thinking it will get them better returns than working with a
financial advisor," said Calvin
MacInnis, President of TD Direct Investing. "In fact, most
self-directed investors say they have either consulted or still
consult a financial advisor to help them."
MacInnis notes that online brokerages need to continue to adapt
to client needs. Just over half (54 per cent) of the survey
respondents using self-directed investing said there is a lack of
information tailored to their specific needs, not enough
educational content available on websites, or that websites are too
complex and difficult to navigate.
"A growing number of our self-directed clients are looking for a
suite of professional-level tools, analytics and resources, which
are also intuitive and tailored to their unique needs, to help them
stay on top of the markets," said MacInnis. "That's something we're
providing with our Advanced Dashboard streaming platform and a
newly redesigned WebBroker®, with a cleaner, more modern look and
feel."
And though we live in an increasingly mobile world, MacInnis
notes that Canadians surveyed overwhelmingly prefer to use a
desktop or laptop computer for self-directed investing, with just
seven per cent primarily using a smartphone. But MacInnis says
that's going to change in the future.
"Our survey found that younger Canadians - those aged between 18
and 34 - are significantly more likely than other age groups to use
a smartphone for self-directed investing," he said. "Couple that
with the fact that a larger percentage of younger Canadians is
already using self-directed investing or is considering opening an
account, suggests that the smartphone is becoming a much more
common way to access self-directed investments."
To learn more about TD Direct Investing, please visit
tddirectinvesting.ca.
About the TD Direct Investing Survey
A survey of 1,750 Canadians (848 men and 902 women) was completed
online between September 11 and 21,
2015 using Leger's online panel, LegerWeb. A
probability sample of the same size would yield a margin of error
of +/-2.5per cent, 19 times out of 20. The data was weighted by the
latest Statistics Canada census to ensure representation of
Canada's population by region, age
and gender.
About TD Direct Investing
TD Direct Investing is a division of TD Waterhouse Canada Inc., a
subsidiary of The Toronto-Dominion Bank.
About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively
known as TD Bank Group ("TD" or the "Bank"). TD is the seventh
largest bank in North
America by branches and serves more than 24 million
customers in three key businesses operating in a number of
locations in financial centres around the globe: Canadian Retail,
including TD Canada Trust, TD Auto Finance Canada, TD Wealth
(Canada), TD Direct Investing, and
TD Insurance; U.S. Retail, including TD Bank, America's Most
Convenient Bank, TD Auto Finance U.S., TD Wealth (U.S.), and an
investment in TD Ameritrade; and Wholesale Banking, including TD
Securities. TD also ranks among the world's leading online
financial services firms, with approximately 10 million active
online and mobile customers. TD had CDN$1.1 trillion in assets on July 31, 2015. The Toronto-Dominion Bank trades under the symbol
"TD" on the Toronto and New
York Stock Exchanges.
SOURCE TD Bank Group
Image with caption: "Do-it-yourself investing is on the rise
(CNW Group/TD Bank Group)". Image available at:
http://photos.newswire.ca/images/download/20151124_C9384_PHOTO_EN_44497.jpg