Majority (60%) of Canadians not Familiar with Private Investments
Toronto, ON, June 27, 2023 – A majority (60%) of Canadians say they are not familiar with private investments, according to a new Ipsos poll conducted on behalf of Harbourfront Wealth Management. Nearly two in ten (17%) have never heard of these types of investments, which include privately-held businesses, private equity, private credit, venture capital and private real-estate trusts, while another 43% say they’re not very familiar and that they’ve only heard the term but have a limited understanding of the specifics. Conversely, just four in ten (40%) are familiar (10% very/30% somewhat).
Given this blind spot for many Canadians, it is interesting to note that one in four (27%) disagrees (10% strongly/17% somewhat) that their current financial institution gives them access to every type of investment product they want, with those aged 18-34 (34%) and men (29%) being most likely to disagree that they have access to all desired options. Moreover, one in four (24%) disagree (7% strongly/17% somewhat) that they have access to all types of investment products through their current financial institutions.
Many appear to be open to moving financial institutions or advisors in order to gain access to more types of investment products. In fact, four in ten (42%) agree (12% strongly/31% somewhat) that they are open to using another financial institution if they give them more access to investment products. A similar proportion (43%) agrees (14% strongly/29% somewhat) that they are open to using another investment advisor or financial planner if they gave them more access to investment products.
About the Study
These are some of the findings of an Ipsos poll conducted in April, 2023, on behalf of Harbourfront Wealth Management. For this survey, a sample of 2,000 Canadians aged 18+ was interviewed. Quotas and weighting were employed to ensure that the sample’s composition reflects that of the Canadian population according to census parameters. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll is accurate to within ± 2.5 percentage points, 19 times out of 20, had all Canadians aged 18+ been polled. The credibility interval will be wider among subsets of the population. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.
For more information on this news release, please contact:
Sean Simpson
Senior Vice President, Ipsos Public Affairs Canada
+1 416 324 2900
[email protected]
About Ipsos
Ipsos is the world’s third largest market research company, present in 90 markets and employing more than 18,000 people.
Our passionately curious research professionals, analysts and scientists have built unique multi-specialist capabilities that provide true understanding and powerful insights into the actions, opinions and motivations of citizens, consumers, patients, customers or employees. We serve more than 5000 clients across the world with 75 business solutions.
Founded in France in 1975, Ipsos is listed on the Euronext Paris since July 1st, 1999. The company is part of the SBF 120 and the Mid-60 index and is eligible for the Deferred Settlement Service (SRD).
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