A recent study commissioned by the British Columbia Securities Commission (BCSC) found that Canadians, even those with investments, do not generally see themselves as “investors”.
The survey involved over 2,900 Canadians and found that only 30% of respondents think the term “investor” describes them well. Even among the two-thirds of Canadians who have an investment (any kind of savings beyond a savings account), only 40% identify as investors.
Interestingly, the survey showed that identifying as an investor has clear impacts on people’s knowledge, attitudes and behaviours. Specifically, Canadians who see themselves as investors are more likely to say that they:
Understand the risks and benefits of their current investments (88% compared to 62% who don’t identify as investors)
Know their investment goals and are on track to meet them (85% compared to 48% who don’t identify as investors)
Have a good understanding of fees and charges paid on investments (74%, compared to 42% who don’t identify as investors)
Gender had a noticeable impact on whether a person’s comfort with the “investor” label: 47% of men who have investments embrace the term, compared to 32% of women with investments.
Complete methodology and results of the report are available in the report here.
DISCLAIMER: This post is intended to convey general information about legal issues and developments as of the date above. It does not constitute legal advice and must not be treated or relied on as such.