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.

One in five Canadians contributed the maximum to their RRSP last year, many of them teenagers and people in their 50s, according to the RTS consumer survey.

Slightly more than half (52%) of those who put the maximum to their RRSP are men. The largest age group is age 55-59 at 31% (vs the national average of 20%, making them 1.5 times more likely to have contributed the maximum to their RRSP).

But a large number of young people are also socking money away for the future. The survey says 27% of teenagers that have an RRSP contributed the maximum last year, and 22% of young Canadians (age 18-24) who have an RRSP also contributed the maximum.

Other findings show that of those who contributed the maximum to their RRSP last return about three out of 10 (29%) are in “upper occupations,” such as store owners or senior management, while 13% work part-time. Only 15% are single.

Meanwhile, 32% of Canadians who have a personal yearly income of less then $30,000 contributed the maximum to their last RRSP return. Across Canada, all regions are average when it comes to contributing the maximum to their RRSP except for the Atlantic region, which is 27% less likely.

Maximum contributions, of course, vary according to earned income. Four in 10 had a maximum under $2,500, and 13% had a maximum of more than $10,000.

One on four have a total value of savings and investments combined of less than $20,000, but 61% have mutual funds within their RRSP.

More than half (54%) prepared their last tax return by themselves or had a friend/relative do it for them.

TD Waterhouse was the most popular (at 10%) brokerage firm used in the past 12 months among those putting the most they could into their RRSPs. CIBC Wood Gundy was next at 7%, with RBC Action Direct, BMO Nesbitt Burns and ScotiaMcLeod all at 5%. Top financial institutions used in the past 12 months are: CIBC at 13%, Bank of Montreal at 12%, TD Canada Trust at 12%, Royal Bank of Canada at 12% and ING Direct at 8%.