$20,000 Bridgehouse Scholarship Program Winners Announced
TORONTO, Aug. 25, 2016 /CNW/ - The 2016 Bridgehouse Scholarship Program (BSP) revealed that 62.5 per cent of young Canadians are risk-takers and 51 per cent are rational risk-takers. Only 9 per cent self-identified as risk averse. The BSP, which ran from May 2 to June 15, 2016, included submissions from more than 800 students between the ages of 18 and 22 from across Canada. Students took an investor personality quiz and submitted an essay explaining what they learned about their investment personalities. The objective of the BSP was to highlight the Know Your Client requirement that financial advisors must follow before embarking on an investment program with any client. Each of the 10 scholarship winners will head back to class this fall with a $2,000 contribution towards their tuition costs. Winning essays can be found at bridgehousescholarship.com/winners/.
"Rational risk-taking, combined with a long-term investing horizon, is an ideal combination for successful investing," says Carol Lynde, President and COO of Bridgehouse Asset Managers. "Young people have a long investing horizon. If they have a propensity for calculated risk, they can stay invested through the inevitable short-term ups and downs."
"Knowing yourself first is an important component of the Know Your Client requirement," says Lynde. "The Bridgehouse Scholarship Program was designed to help students get to know their potential strengths and weaknesses so that, when they start to invest, they can seek appropriate advice and support to invest successfully."
Just under 63 per cent of BSP participants showed risk-tolerant personalities (31.4 per cent of those fell into the "Strategist" category, 20.3 per cent into the "Thrill Seeker/Strategist" category and 10.8 per cent into the "Thrill Seeker" category), while fewer than 9 per cent self-identified as risk-averse. Further, 51 per cent of participants indicated a tolerance for risk and a rational approach to decision-making. For an infographic of the results, go to http://bridgehousecanada.com/wp-content/uploads/2016-Scholarship-Infographic-Eng.pdf.
The 2016 BSP winners are:
- Evelyn Savolainen, Lethbridge, AB – Strategist
- Lakota Stedel, Charlie Lake, BC – Strategist
- Sherlyn Assam, Brampton, ON – Strategist
- Sarah Ippolito, Hamilton, ON – Strategist/Analyst
- Ryan Watson, Oakville, ON – Strategist
- Willa Mason, Chelsea, QC – Strategist
- Katherine Tang, Mississauga, ON – Thrill Seeker/Strategist
- Andrew Weinhardt, Oakville, ON – Strategist
- Ulfath Arshiya, Calgary, AB – Thrill Seeker/Strategist
- Swati Sood, London, ON – Strategist
Winners are also available for media interviews.
"I should not be swayed by short-term volatility and should aim to grow with the long-term gains of the market," says 18-year-old winner Katherine Tang of Mississauga, Ontario. "I hope to be an educated investor who can make sound, grounded financial decisions—and have a financial advisor by my side for expert advice."
Nineteen-year-old Willa Mason of Chelsea, Quebec says: "I learned that relying on a financial advisor, just as I rely on my athletic coach, will guide me in the right direction."
The BSP is designed to help young Canadians as they move into their earning—and saving—years by helping them understand investing concepts and their own investment personalities.
The 10 winning submissions were selected by a panel of investment advisors who are passionate about promoting investor knowledge to young Canadians: Carol Lynde, moderator (Bridgehouse Asset Managers), Rod Tyler (The Tyler Group), Jeremy Clark (Clark Hetherington Financial Ltd.) and Natalie Sears (National Bank Financial Wealth Management).
The sixth annual Bridgehouse Scholarship Program will open for applicants on May 1, 2017.
About the Bridgehouse Scholarship Program:
The Bridgehouse Scholarship Program strives to advance investor knowledge and financial responsibility among Canadian youth. The BSP and the Money Personality Quiz were specifically developed to address recommendations from the federal Task Force on Financial Literacy. In February 2010, the Canadian government launched this task force to investigate the financial literacy of Canadians of all ages. It released its recommendations on how to improve financial literacy for all Canadians in its February 2011 report, Canadians and Their Money. Learn about the BSP, meet the judges and read the winning essays at bridgehousescholarship.com.
Bridgehouse Asset Managers (Bridgehouse), a trade name of Brandes Investment Partners & Co. since 2013, offers time-tested investment solutions to Canadians, leveraging the expertise of world-class investment managers. In everything it does, Bridgehouse is committed to partnering with investment professionals to help Canadians reach their financial goals and become smarter investors. Bridgehouse offers 26 mutual funds featuring a variety of asset classes, styles and objectives to meet individual needs for growth or income. Our investment managers all employ an active management philosophy, with a goal of outperforming benchmarks and peers, and helping investors build long-term wealth in their portfolios. Through one source, investors can access the expertise of five world-class investment managers: Brandes Investment Partners, L.P., Greystone Managed Investments Inc., Lazard Asset Management (Canada) Inc., Morningstar Associates Inc. and Sionna Investment Managers Inc.
For more about Bridgehouse, visit: bridgehousecanada.com and follow us on Twitter and LinkedIn
Bridgehouse Asset Managers™ is a trade name of Brandes Investment Partners & Co. (Bridgehouse). Brandes Investment Partners® is a registered trademark of Brandes Investment Partners, L.P. in the United States and Canada, used under license by Bridgehouse. Brandes Investment Partners & Co. is an affiliate of Brandes Investment Partners, L.P., which is a portfolio sub-advisor to certain of the Bridgehouse Funds. As the manager of the Bridgehouse Funds, Bridgehouse has hired Brandes Investment Partners, L.P. (Brandes LP), Greystone Managed Investments Inc. (Greystone), Lazard Asset Management (Canada) Inc. (Lazard), Sionna Investment Managers Inc. (Sionna) and Morningstar Associates Inc. (Morningstar) as portfolio sub-advisor in respect of certain of the Bridgehouse Funds. This material has been provided by Bridgehouse and is for informational purposes only. It should not be construed as a recommendation to buy or sell.
SOURCE Bridgehouse Asset Managers
Image with caption: "Highlights from the 2016 Bridgehouse Scholarship Program investment personality quiz (CNW Group/Bridgehouse Asset Managers)". Image available at: http://photos.newswire.ca/images/download/20160825_C3535_PHOTO_EN_759609.jpg
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