Almost three-quarters of Canadians (72 per cent) surveyed believe that technology has played a significant role in helping them become better investors, according to a new study by online brokerage BMO InvestorLine.
The study also identified the ways in which technology has enhanced the ability of investors to manage their portfolios. These included: making them more informed; providing more sources for advice; allowing them to act faster; simplifying things; and providing greater convenience.
In terms of the types of online sources Canadians are using for investing information, the top sites identified included: financial news websites (46 per cent); real-time stock websites (32 per cent); and educational resources provided by online brokerages (29 per cent).
“Over the last two decades, technology has played a transformational role in all aspects of our lives — including how Canadians invest,” said Viki Lazaris, CEO, BMO InvestorLine.
The study also found that Canadians value personalized advice, with 87 per cent stating that such advice ranks as one of the most important factors for them when investing. Further, investors value having access to investing information from credible sources in the digital age, with 50 per cent saying they want to see more such information on the Internet in the future.