Investors are most confident that mutual funds will deliver returns (80%), followed by GICs (68%), bonds (59%) stocks (56%) and ETFs (31%), finds a Pollara survey for the Investment Funds Institute of Canada (IFIC).
And the majority of mutual fund investors (81%) prefer receiving information on what to buy from their advisor.
The survey also includes data about the typical first time investor—41% started investing with less than $10,000; 22% had less than $5,000; and 72% had little or no investing experience.
Read: Investors want plain-talking advisors
“These facts underline the importance of making affordable advice accessible to first time investors,” says IFIC chair Glen Gowland. “For the industry, governments and regulators, these findings also underscore the importance of building financial literacy.”
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