British Columbians are the “savviest” investors in the country, according to the results of a BMO survey released this weekend.
BMO Nesbitt Burns’ bi-annual investor index study found that B.C. investors rank in first place, countrywide, for being the most financially savvy when it comes to managing their investments.
British Columbia received an overall score of 92, with Alberta in second place with a score of 88.
The survey ranks the provinces in terms of their investment know-how in several categories, including:
- whether they have a financial plan;
- awareness of their investment profile;
- general investment knowledge, including how various factors can affect their portfolios; and
- amount of attention paid to market trends.
Overall, the study found that 84% of Canadians feel confident in terms of how well they are managing their investments, but that one-third of investors do not know what specific investments they hold in their portfolios.
The survey also found that seniors are most likely to understand the specifics of their investment portfolios (77%).
Other regions’ scores included:
- prairie provinces (86);
- Ontario (82);
- Quebec (76); and
- Atlantic Canada (74).
