Canadians, even those with investments, have trouble seeing themselves as “investors,” according to a new study commissioned by the British Columbia Securities Commission (BCSC).
The survey revealed that less than one third of Canadians think the term “investor” describes them well. Among the two-thirds of Canadians who do have an investment (any kind of savings beyond a savings account), only 40 per cent identify as investors.
The survey of over 2,900 Canadians showed that identifying – or not – as an investor has clear impacts on people’s knowledge, attitudes and behaviours. Canadians who see themselves as investors are more likely to say that they:
- Understand the risks and benefits of their current investments
- Know their investment goals and are on track to meet them
- Have a good understanding of fees and charges paid on investments
Gender has a noticeable impact on a person’s comfort with the “investor” label:
- 47 per cent of men who have investments embrace the term, compared to;
- 32 per cent of women
Among investors in B.C., the Lower Mainland/Fraser Valley region had the highest percentage of people identifying as investors (41 per cent), while the largely rural region of Interior and Northern B.C. had the lowest percentage (29 per cent).
The survey was conducted by Innovative Research Group among a representative sample of Canadian and B.C. respondents from December 7 to December 28, 2018. A total of 2,915 Canadians aged 18 and over completed the survey, which included an oversample of 1,407 British Columbians. Complete methodology and results are available in the highlights report.
Report a Concern
If you have any concerns about a person or company offering an investment opportunity, please contact BCSC Inquiries at 604-899-6854 or 1-800-373-6393, or through e-mail at [email protected]. You can also file a complaint or submit a tip anonymously using BCSC’s online complaint form.
Canadian securities regulators are recognizing Fraud Prevention Month this March by encouraging investors to take early and proactive steps in protecting themselves from investment fraud. Securities regulators stress that being an informed investor is the best defence against investment fraud. The CSA website offers several free educational tools and resources for investors, including how to […]