Advisors looking to fine-tune their value propositions might do well to focus on client education. That’s because, with the rise of online investing platforms, more clients say they want to better understand investing.

“Digital solutions have transformed traditional investing and redefined who can invest online, yet some still feel intimidated by having to decide what and where to invest,” says Silvio Stroescu, head of digital investing at BMO Wealth Management, in a release.

A BMO study found that almost two-thirds of Canadians (60%) say they feel the need to learn more about investing, and almost half (46%) are intimidated by investment decisions.

Further, 38% say they don’t have enough time to invest.

Perhaps because of that time crunch, some are looking for help, with 67% of millennials, 58% of gen-Xers and 38% of baby boomers saying they’re seeking tools to help them invest.

Read: What happens when advisors use robos

For those using online platforms, 74% said they were satisfied with the investment choices made. However, older Canadians were more critical: baby boomers said they were less satisfied with their investment choices (33%) than gen-Xers (76%) and millennials (79%).

About the survey: Pollara Strategic Insights conducted an online survey between Nov. 1 and Nov. 8, 2017, with a sample of 2,501 adult Canadians. Data have been weighted using the latest Canadian census information to be representative in terms of age, gender and region. The margin of error is ± 2.0%, 19 times out of 20.

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