- Research from TD Direct Investing finds that more Canadians are managing their portfolios online -
TORONTO, Jan. 24, 2013 /CNW/ - One in five Canadians now manage their investments the same way they make common lifestyle purchases: they go online. The TD Direct Investing Poll found the majority of Canadians now book travel (60%), research car purchases (59%) and buy event tickets (58%) online. Many also enjoy the ease and convenience of the internet to manage their financial future, with 41% researching investment options online and 22% managing their investments online. In addition, 13% said they invest online more frequently than they did five years ago.
"Self-directed investing is a great way to plan and manage your retirement nest-egg - and it's never too early to start planning for your golden years," says Rowena Chan, Vice President, TD Direct Investing. "There is a wide variety of innovative tools and resources available to support investors in their long-term strategies and help them make informed decisions. That's one of the reasons we recently changed our name to TD Direct Investing from TD Waterhouse Discount Brokerage - to reflect that our services enable investors to personally navigate the markets, and help them become confident and successful investors."
Going online to maximize your time
When you're busy, you look for ways to make the best use of the limited hours in the day, and cut down unnecessary activities. The poll found that Canadians who perform tasks online rather than the traditional way, say the greatest benefits are: saving time (82%), doing things on their own timeline (75%) and having access to lots of information (55%).
"Even with everything Canadians have on the go, it's essential to prioritize planning and saving for retirement. The earlier you start, and make it a part of your lifestyle, the easier it will be to accumulate your retirement savings. There are many benefits to managing your own investments - including the ability to view and make changes to your portfolio where and when it's convenient for you - you have power and control over investing for your financial future."
With the start of a new year, many are open to trying new things to improve their lifestyle. With the March 1, 2013 RSP deadline just around the corner, Chan offers some tips and online resources that can help you get started and meet your financial goals:
Decide what you want, and how you'll get there
There are helpful tools online such as calculators that will help determine what you need to save for retirement. There is also a variety of research resources online including articles, webinars and online videos.
"When you're familiar with the investment products available and how they can fit within your portfolio and your retirement savings strategy, you can feel confident that you're making informed decisions," says Chan.
Make your financial future a priority
It's important to invest the time to research, determine your strategy and get comfortable with the different products and platforms at your disposal, especially if you're a new investor. This will give you greater control and flexibility to manage your portfolio when and where it's convenient for you, either at home, at work, or on the go with the TD Mobile App.
"When you invest online, you control your portfolio, and you still have access to tools and resources, so you can be confident you are taking the right steps towards a comfortable retirement," says Chan.
Start slowly, then work your way up at your own pace
You can start by moving one or a few of your investments online until you're familiar with the platform and tools. When you're comfortable, you can use direct investing to more actively control your entire portfolio.
"There is a variety of online resources and platforms available, tailored to investors at any level, from new investors, to experienced and active traders," adds Chan. "If you have questions, we have 24/7 support available online and by phone, as well as in-person support in our 33 investor centres."
For more information about TD Direct Investing, visit www.tddirectinvesting.ca.
About TD Direct Investing Research
TD Bank Group commissioned Environics Research Group to conduct an online custom survey of 2,407 Canadians 25 years of age or older, including 1,251 working Canadians and 929 retired Canadians. The total sample was weighted by age, gender and region to be proportionately representative of the Canadian population 25 years of age and older. Responses were collected between December 5 and 11, 2012.
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 approximately 22 million customers in four key businesses operating in a number of locations in key financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Auto Finance Canada; Wealth and Insurance, including TD Waterhouse, 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 more than 8.5 million online customers. TD had CDN$811 billion in assets on October 31, 2012.The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.
About TD Direct Investing
TD Direct Investing and TD Waterhouse Discount Brokerage represent a single division of TD Waterhouse Canada Inc., a subsidiary of The Toronto-Dominion Bank. TD Waterhouse Canada Inc. - Member of the Canadian Investor Protection Fund.
SOURCE: TD Bank Group
For further information:
Ali Duncan Martin
TD Bank Group