Personality plays a role in how people invest.
The British Columbia Securities Commission’s Smarter Investor Personality Quiz helps investors understand how their investing personality can help them to better interact with their advisor and stay on top of portfolio performance.
The quiz is based on BCSC research on how personality affects Canadians’ investment decisions.
The Research Behind the Quiz
The BC Securities Commission conducted the National Smarter Investor Study to assess what Canadians know, feel, and do when it comes to investing. The study revealed five personality types based on the Big 5 personality traits—extroversion, agreeableness, emotional stability, conscientiousness, and openness to experience.
The study asked Canadians about their investment goals and the products in their portfolios. It also looked at how investors’ knowledge, attitudes, and behaviours differ when they work with an advisor and when they do not. These insights were combined with personality findings to show how five personality types approach investing and working with an investment advisor.
Investor Personality Types in the Quiz
Investors will get one of five possible personality types as their result. Each description comes with information to help investors see how they can be more mindful when investing. After finding out their personality type, quiz takers can access investing resources suited to their result.
Confident investors are most likely to work with an investment advisor, conduct a background check, and ask their advisor how they are compensated.
Diligent personality types are likely to work with an investment advisor, but tend not to ask how their advisor is compensated. Not surprisingly, diligent investors are most likely to read their investment statements.
Impulsive investors are somewhat likely to work with an investment advisor. Of the five types in the quiz, they are least likely to ask questions about advisor compensation or read investment statements all the way through.
Reserved personalities are among the most likely to read their investment statements, but are less likely to work with an investment advisor. This group is also the least likely of all personality types to run a background check on an advisor.
People with tumultuous personalities are the least likely to invest, least likely to work with an investment advisor, and least likely to have a financial plan. They also tend not to recognize the warning signs of investment fraud and are most likely to report that they’ve invested in a fraudulent investment.
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 the BCSC’s online complaint form.
InvestRight.org is the British Columbia Securities Commission’s investor education website.
For many people, September is a hectic time of year. Work often picks up, and so does family life for those who have children. Even though you may be busy, it is important to keep on top of your finances and investments. This is a good time of year to check in with your financial […]
BCSC staff ambassadors tour the province, helping people to protect themselves from fraud and unsuitable investments. Our goal is to enable BC investors to develop critical thinking skills so they can become more informed of steps they should take to protect themselves when investing. Where we are this month RichmondBe Fraud Aware seminarDecember 10Private […]