Almost three-quarters of Canadians (72 percent) believe that technology has significantly helped them to become better investors, according to a new survey.
The study, published by BMO InvestorLine, a self-directed service for investors and a unit of BMO Financial Group, also identifies the ways in which technology has enhanced Canadians’ ability to manage their portfolios. These include:
- Making them more informed – 73 percent;
- Providing more sources for advice - 68 percent;
- Allowing them to act faster - 59 percent;
- Simplifying things - 57 percent;
- Providing greater convenience - 57 percent.
In terms of the types of online sources Canadians are using for investing information, the top sites identified included:
- Financial news websites - 46 percent;
- Real-time stock websites - 32 percent;
- Educational resources provided by online brokerages - 29 percent.
“Over the last two decades, technology has played a transformational role in all aspects of our lives — including how Canadians invest,” says Viki Lazaris, CEO of BMO InvestorLine.