This is another in a regular series on information for advisors intended to help them better understand their clients and possibly open up new niche markets to them.

It is based on data gleaned from the RTS consumer survey conducted by BBM Canada, a Toronto-based not-for-profit, industry-owned and -run broadcast audience research organization. BBM Canada conducts the bi-annual RTS survey with a sample size of more than 60,000 respondents, providing detailed insight into the consumer preferences of Canadians across a spectrum of industries including financial, banking and e-commerce. Today’s “factoid” is taken from the most current (fall 2004) BBM RTS release.

About 610,000 Canadians have investments worth $500,000 or more, according to the latest RTS survey. More than half use a full-service broker, but almost one in five have changed where they do their investing in the past two years.

Perhaps not surprising, these clients tend to be older — 83% are 45 or over and almost a third (32%) are aged 65 or older — and more well-off — they are 18 times more likely than the average to have a personal yearly income of $150,000 or more.

Most are men (60%) and 23% are in upper management or professional occupations. About a third are retired.

Slightly less than half (45%) have an Internet banking plan and 17% (2.6 times higher than the national average) trade stocks using the Internet. More than half (56%) use a full-service broker (three times the national average) and 17% have changed the institution they use for investments in the past two years.

The principal banks used by this group, according to the survey, are: TD Canada Trust (21%), Royal Bank of Canada (18%), Bank of Montreal (11%) and CIBC (11%).

Most of this group lives in Ontario and B.C. and almost all (95%) own their own home.