The current economic and market environment is prompting many investors to review their financial portfolios to address changes in their circumstances and risk tolerance, a survey conducted for Bank of Nova Scotia reveals.

According to the study, 76% of Canadians who follow a personalized financial plan say they have reviewed their plan within the last six months.

Almost half of the respondents (49%) say the review prompted them to make adjustments to their plan.

“Considering the current economic environment and market activity, it’s not surprising to see so many Canadians reviewing their portfolios and making adjustments to ensure their short and long term financial goals are met,” says Andrew Pyle, Wealth Advisor, ScotiaMcLeod.

“With the summer holidays upon us, now is a perfect time for investors to do a mid-year review if they haven’t already done so,” advises Pyle.

The study was conducted in July among Canadian investors by Angus Reid Strategies and Scotiabank.

IE