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More than one-third of millennials surveyed in Alberta invest with advisors (35%), rather than exclusively managing their money online, finds ATB Investor Beat.

That result might surprise you, considering ATB also found that the younger generation is more comfortable managing money online (43%) compared to gen X (27%) and boomers (22%). Millennials are also more likely to do online research than their older counterparts.

However, only one in four millennial investors agreed they are familiar with their investment risks and understand the types of investments they have.

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When it comes to online investing, respondents across all age groups said the primary reasons for doing so are lower fees (55%), scheduling ease (45%) and ease of set up (26%).

It’s not just millennial investors who use a combination of online investing and support from an advisor. While 57% of Albertans report viewing their investments online, only 23% have purchased or sold investments online and, of those individuals, 42% continue to also invest with a financial advisor.

The ATB Investor Beat survey was conducted by Ipsos from July 20-29, 2017, and involved 1,004 participants in Alberta. Results are considered accurate to within +/- 3.5 percentage points.

Read the full survey here.

Read: How millennials will affect your stocks

Originally published on Advisor.ca
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