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Portfolio > Investment VIPs

BMO Nesbitt Burns: Investors Most Value Honesty, Trustworthiness and Knowledge of Advisors

By Warren S. Hersch

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Nearly 9 in 10 Canadians cite trustworthiness, honesty and knowledge as the key attributes they look for in a financial advisor, according to a new report.

BMO Nesbitt Burns, Toronto, Ont., published this finding in a summary of results from a new survey of Canadian investors. The survey was conducted by Pollara, a Canadian-based public opinion and research company.

When selecting an investment advisor, the report notes, Canadians chose the following key attributes as topping their wish list:

Trustworthiness and honesty (89% cited as most important)

Level of knowledge (88%)

Experience (83%)

Track record and availability (tied at 76%)

Reputation and advisor confidence level (tied at 75%).

The study also shows that more than two-thirds (69%) of Canadian investors have used the services of a financial or investment advisor within the past 12 months.

Among the study’s additional findings:

82% of Canadian want their investment advisor to explain their investments in easy-to-understand terms.

Investors more highly value returns that meet their financial plan’s targets (84%) than returns that outperform the market (71%).

69% of Canadian investors say that it is very important that investment advisors regularly engage in meaningful communication with them.

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