30 years after TD brought self-directed investing to Canadians, one in four people invests online
TORONTO, April 7, 2014 /CNW/ - A lot has changed since Canada's first bank-owned self-directed brokerage was launched in 1984, including the profile of an online investor. Today, an increasing number of women, younger people and those with all portfolio sizes are looking to open an online brokerage account.
"There isn't a 'typical' online investor anymore," said Calvin MacInnis, president, TD Direct Investing. "As technology has evolved, people have gained the tools, information and confidence to help them take control of their investments, and that means we're seeing a much broader range of clients turning to online investing."
A recent TD survey found that 42 per cent of Canadians now research investment options online, while a quarter purchase investments online. MacInnis notes that, while men still make up about two-thirds of online investors, industry research shows that a growing number of women say they intend to open an online brokerage account, too."Even with this growth in using online brokerages, it doesn't have to be all or nothing," said MacInnis. "Just over half of the investors we surveyed told us they also work with a financial advisor or an accountant when managing at least part of their investments." The TD survey also found that nearly a third of people who don't invest online say it's because they don't know enough, but Tony Ierullo, AVP, strategy and product development, TD Direct Investing, says there are many tools and resources available to help them learn and feel more comfortable. To assist self-directed investors, TD offers free seminars for all levels, whether new to online investing, an experienced investor or an active trader. "With knowledge comes confidence, so it's important that self-directed investors - and those interested in getting started - educate themselves on the options available to them and have the tools they need to research and monitor their investments," said Ierullo. "At TD, we're focused on making it easy for clients to learn in a way that works best for them, whether they prefer extensive market commentary and independent research, or educational seminars and webinars."