One in five Canadians now manages their investments the same way they make common lifestyle purchases: by going online. The TD Direct Investing poll found the majority of Canadians now book travel (60%), research car purchases (59%) and buy event tickets (58%) online.
Many also use the Internet to manage their financial future, with 41% researching investment options online and 22% managing their investments online. In addition, 13% said they invest online more frequently than they did five years ago.
“There is a wide variety of innovative tools and resources available to support investors in their long-term strategies and help them make informed decisions,” said Rowena Chan, vice president, TD Direct Investing.
The firm had a recent name change, to TD Direct Investing, from TD Waterhouse Discount Brokerage, Chan said. The change was made because the company’s aim is to enable individuals to personally navigate the markets and become confident and successful as investors.
One of the reasons survey respondents gave for using the Internet was productivity. The poll found that Canadians who perform tasks online said the greatest benefits are: saving time (82%), doing things on their own time line (75%) and having access to lots of information (55%).
TD Bank Group commissioned Environics Research Group to conduct an online custom survey between December 5 and December 11 among 2,407 Canadians 25 years of age or older, including 1,251 working Canadians and 929 retired Canadians.
More information about TD Direct Investing is here.