30 years after TD brought self-directed investing to Canadians, one in
four people invests online
TORONTO, April 7, 2014 /CNW/ - A lot has changed since Canada's first
bank-owned self-directed brokerage was launched in 1984, including the
profile of an online investor. Today, an increasing number of women,
younger people and those with all portfolio sizes are looking to open
an online brokerage account.
"There isn't a 'typical' online investor anymore," said Calvin MacInnis,
president, TD Direct Investing. "As technology has evolved, people have
gained the tools, information and confidence to help them take control
of their investments, and that means we're seeing a much broader range
of clients turning to online investing."
A recent TD survey found that 42 per cent of Canadians now research
investment options online, while a quarter purchase investments online.
MacInnis notes that, while men still make up about two-thirds of online
investors, industry research shows that a growing number of women say
they intend to open an online brokerage account, too.
"Even with this growth in using online brokerages, it doesn't have to be
all or nothing," said MacInnis. "Just over half of the investors we
surveyed told us they also work with a financial advisor or an
accountant when managing at least part of their investments."
The TD survey also found that nearly a third of people who don't invest
online say it's because they don't know enough, but Tony Ierullo, AVP,
strategy and product development, TD Direct Investing, says there are
many tools and resources available to help them learn and feel more
comfortable. To assist self-directed investors, TD offers free
seminars for all levels, whether new to online investing, an
experienced investor or an active trader.
"With knowledge comes confidence, so it's important that self-directed
investors - and those interested in getting started - educate
themselves on the options available to them and have the tools they
need to research and monitor their investments," said Ierullo. "At TD,
we're focused on making it easy for clients to learn in a way that
works best for them, whether they prefer extensive market commentary
and independent research, or educational seminars and webinars."
"You don't need to be wealthy to invest online," added Ierullo,
"Industry research has also shown that people with under $100,000 in
assets are, in fact, the most likely to be planning to open an online
brokerage account. We also recently introduced a flat commission of
$9.99 per online Canadian and U.S. trade, making it even more
MacInnis has no doubt that the continued shift to digital will continue
to drive the growth of online investing.
"When we launched our self-directed brokerage 30 years ago, clients of
Green Line Investor Services - as TD Direct Investing was known then -
reached our eight employees through a single telephone line," he said.
"By the early 1990s, we were offering Canada's first personal computer
trading service, followed soon after by Canada's first Internet
"Advancements in technology have allowed us to continue innovating to
meet the needs of investors as they do more and more transactions
online," added MacInnis. "Now, with mobile trading apps, even more
people can invest online wherever and whenever they want."
To learn more about TD Direct Investing, please visit: tddirectinvesting.ca
About the Research
For the TD Survey, TD commissioned Environics Research Group to conduct an online custom survey of 6,015 Canadians aged 18 years and
older. Responses were collected between February 11 and 25, 2014. Additional industry research was conducted by Ipsos Reid as part of its
2013 Online Brokerage Report which surveyed 2001 online brokerage users
between June 14 and June 28, 2013.
About TD Direct Investing
TD Direct Investing is a division of TD Waterhouse Canada Inc., a
subsidiary of The Toronto-Dominion Bank.
About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as
TD Bank Group (TD). TD is the sixth largest bank in North America by
branches and serves over 22 million customers in four key businesses
operating in a number of locations in financial centres around the
globe: Canadian Personal and Commercial Banking, including TD Canada
Trust and TD Auto Finance Canada; Wealth and Insurance, including TD
Wealth, TD Direct Investing, an investment in TD Ameritrade, and TD
Insurance; U.S. Personal and Commercial Banking, including TD Bank,
America's Most Convenient Bank, and TD Auto Finance U.S.; and Wholesale
Banking, including TD Securities. TD also ranks among the world's
leading online financial services firms, with approximately 8 million
active online and mobile customers. TD had CDN$909 billion in assets on
January 31, 2014. The Toronto-Dominion Bank trades under the symbol
"TD" on the Toronto and New York Stock Exchanges. For more information:
SOURCE: TD Bank Group
For further information:
TD Bank Group