"It’s no surprise that Canadians value advice for managing their investments," said Viki Lazaris, President and CEO, BMO InvestorLine. "It’s getting increasingly difficult to make investment decisions with the myriad of investment options available to investors and the speed at which global economic events occur."
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Most Canadians Want "the Final Say"
When examined more closely, more than half of Canadians (57 per cent) reported that, while they would like advice when choosing their investments, they ultimately want the final say in whether they commit to a given investment or not.
"Investing is an important but personal decision and investors have different life situations and investment objectives," said Ms. Lazaris. "For those who are confident in making their own investment decisions, BMO InvestorLine offers a self-directed service, which provides tools and resources for clients to build and manage their portfolio independently. And for those who are interested in managing their portfolio independently, but can benefit from guidance along the way, BMO InvestorLine recently introduced adviceDirect, a first-of-its-kind service designed for those who want to invest through an online brokerage but require advice when making decisions."
Launched in September 2012, adviceDirect acts as a virtual investment advisor, providing specific buy and sell recommendations based on an investor profile that’s tailored specifically for a client’s goals, time frame and risk tolerance. The service continually monitors the client’s portfolio and sends notifications with specific recommendations when their portfolio needs attention on areas like diversification, asset allocation, risk and equity ratings.
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