Canadians are becoming more self-sufficient when it comes to long-term financial planning needs, and technology is helping them make the shift, says a financial expert.
And many investors are turning to the capital markets to save for their retirement, said Dina Palozzi, executive vice-president of client relations for BMO Nesbitt Burns, a member of the Bank of Montreal Group of Companies.
Speaking to the Canadian Pension and Benefits Institute in Edmonton last week, Palozzi said financial services organizations will play an increasingly important role in the realization of investors’ retirement goals.
“Whether it’s through online do-it-yourself portfolios, or one-on-one investment advice and discretionary portfolio management, individual investors have a wider range of products and services to choose from their bank or brokerage,” said Palozzi.
“Via the Internet, individual investors have access to a vast array of data ranging from annual reports and company news releases to live annual meeting broadcasts and detailed reports by analysts,” she added.
“For the discerning investor, there are many opportunities to access useful information.”
Recent introduction of new rules and regulations is also helping to make the capital markets more accessible to most retail investors, Palozzi noted.
