89% of Canadian investors cite trustworthiness and honesty as important characteristics of an investment advisor.
BMO Nesbitt Burns has released a study which found that Canadians are opting for investment advisors who are honest, able to explain things in easy-to-understand terms and who will take the time to work with them to develop a detailed financial plan.
Interestingly, the study also found that investors are less interested in returns that outperform the markets than returns that meet their financial plan’s targets, BMO said in a press release.
The study, conducted by Pollara, showed that more than two-thirds (69%) of Canadian investors have used the services of a financial or investment advisor within the past 12 months.
BMO Nesbitt Burns in the investment arm of the Bank of Montreal (TSX: T.BMO, Stock Forum).
Trading at $57.17, Bank of Montreal has a market cap of $37 billion, based on 646.6 million shares outstanding. The 52-week range is $61.40 and $53.15.
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