Fifty-three per cent of Canadian investors are optimistic about achieving their investment targets over the next year, compared to 39 per cent in 2012, says a new survey conducted for the Canadian Securities Administrators (CSA).
However, 51 per cent of respondents failed a general investment knowledge test that was included in the survey. The CSA says this result highlights the “continued importance of the CSA's and its members' investor education initiatives.”
Know the risks
"It's encouraging news that Canadian investors are positive about their economic futures," said Louis Morisset, chair of the CSA and president and CEO of Quebec regulator, the Autorité des marchés financiers. "No matter how well the economy or their investments are performing, it's important that investors continue to understand their investments, know the risks involved and be aware of the red flags of investment fraud."
In addition, the survey found online investment advisors (robo-advisers) are increasingly popular, with 23 per cent of respondents saying they are likely to use a robo-adviser if they open a new account or move an existing one. Currently, nine per cent of Canadian investors have an account with a robo-adviser, and 16 per cent are familiar with automated online investing services, says the CSA.