Desjardins Group Gender Survey on Financial Planning - Men and Women Have Different Approach to Financial Planning



    
                       Women take an overall approach,
               while men prefer an approach based on objectives
    

    LEVIS, QC, Dec. 12 /CNW Telbec/ - Should a person's approach to financial
planning be based on the future well-being of the family or on meeting a set
of financial objectives? Is it better to have a notarized will and should you
also have a mandate in case of inability? Do you really wish to attain
financial independence? What do the expressions "investor profile" and
"investment horizon" mean?
    Although these questions appear simple, your answers will vary greatly
depending on whether you are a man or a woman, according to a survey by
Desjardins Group, Canada's largest integrated cooperative financial group,
designed to measure the differences between men's and women's concerns and
attitudes when it comes to financial planning.
    The survey was taken in the fall of 2007 among a group of 1,400
respondents (1,000 in Québec and 400 in Ontario) representative of the adult
population and including an equal number of women and men. The survey was made
up of 40 questions divided among areas such as: ease of discussing financial
planning with an advisor, the importance given to the various aspects of
financial planning and the understanding of financial planning vocabulary.
    "Even if the average spread between men's and women's answers is
relatively narrow (7 points), the trend that emerges from our study shows a
significant difference in terms of the approach: women see financial planning
as a whole that involves the well-being of the family, while men have a more
compartmentalized approach, based on fixed objectives. This observation
confirms the accuracy of our orientation, which is based on personalized,
value-added service, explained Mr. Eric Lemieux, Vice-President, Wealth
Management at Desjardins Group.

    Women more concerned about the well-being of others

    According to the survey, women appear more concerned about the well-being
of others and more worried than men about the idea of being a burden on the
family. They are more concerned than men by such things as financing the
children's education (+6 points), the importance of having a budget
(+8 points) and increasing the value of investments in the short term
(+9 points). They are also more aware than men about the importance of having
a notarized will (+10 points) and a mandate in case of inability (+13 points).

    Men more oriented towards reaching objectives

    Men's targeted approach comes across mainly in their greater concern for
reaching financial objectives (+6 points), for the tax consequences of their
financial decisions (+7 points) and for their retirement planning strategy (+7
points). There are also more men than women who say they are solely
responsible for their decisions (+9 points) and are consequently less inclined
to ask for advice.
    The language of financial planning and investment also seems more
familiar to men. They were more likely to understand expressions such as
"investor profile" (+17 points), "investment horizon" (+6 points) and "net
worth" (+8 points). However, the more general concept of "financial
independence" is understood equally well by women as by men, and women are
more likely than men to desire such independence (+7 points).
    "This survey is a tool that can help Desjardins Financial Planning
Advisors to better understand members, both men and women, and to better
accompany them on the path to financial security for themselves and their
families," added Mr. Lemieux.

    About Desjardins Group

    Desjardins Group is the largest integrated cooperative financial group in
Canada, with overall assets of $147 billion, as at September 30, 2007. It
comprises a network of caisses, credit unions and business centres in Québec
and Ontario, and some twenty subsidiary companies in life and general
insurance, securities brokerage, venture capital and asset management, many of
which are active across the country. Drawing on the expertise of its 40,000
employees and the commitment of 6,800 elected officers, Desjardins offers its
5.8 million individual and corporate members and clients a full range of
financial products and services. Its physical distribution network is
complemented by leading-edge virtual access methods. To find out more, consult
www.desjardins.com.

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For further information:

For further information: (for journalists only): Nathalie Genest,
Advisor, Information and Media Relations, Desjardins Group, (514) 281-7275,
1-866-866-7000, ext. 7275, nathalie.genest@desjardins.com; Frédéric Bérard,
HKDP Communications & Public Affairs, (514) 395-0375, ext. 234,
fberard@hkdp.qc.ca


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