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Investment services online appeal to Canadians, says BMO

by

Aurélia Morvan

7 March, 2019 09:30

Photo : Freepik

Canadians are turning increasingly to the investment services online. This is the conclusion which emerges from a recent survey from BMO investorline, conducted online with 1,000 adult canadians.

The milléniaux leader

According to the Bank of Montreal, all the generations use technology to manage their savings and their investments. They are 86 % of the milléniaux and 78 % of Canadians of the X generation to do so. The older there are also since 50% of babyboumeurs and 41 % of Canadians of the great generation indicate manage their financial assets online.

“In spite of differences in adoption rates between the age groups, it is clear that the global adoption of the investment digital is gaining ground,” said Silvio Stroescu, president of BMO investorline.

The trend could well intensify in the years to come. In fact, according to the poll by BMO, 59 % of milléniaux indicate wanting ” to automate more aspects of their financial life

Quebec : little complex investment online

The results disclosed by the financial institution does not allow to know in detail the nature of investments made online by Canadians.

Last February, the ORGANIZATION had concentrated on the use of online banking services by internet users in Quebec. The study showed that by 2018, 54 % of Quebecers had turned to the website of their bank for the acquisition of financial products or services relatively simple. However, they had been few in number to use the internet to make financial investments more complex.

This year, 16 % of quebec internet users have made financial investments online through the use of investment funds, term savings, guaranteed investment certificates, RRSPS or TFSAS. They were 9 % to buy or sell shares online and 2 % to open an online brokerage account.

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