Three quarters of respondents (74%) stated that their self-managed investment account is their main account. The rest (26%) said they have an advisor and also use an OEO (Secondary Order Execution Only) account to invest. Respondents who were male, younger than 35 years old, and had invested less than $ 100,000 were more likely to be self-managing on their main account.
Among self-managed investors with an advisor, a third (32%) said they did it because they enjoyed it. Other reasons cited were the desire to let the advisor manage only part of their portfolio (28%) and the preference to take more risk as the advisor looks after their retirement portfolio (27%).
Due to the pandemic, a sixth (16%) of respondents said they invested through an advisor for their main account. This was especially true for investors who believed they had a high level of knowledge of financial matters, for those taking medium to high risk, and for those with less than a year of direct investment experience.
A large minority of self-managed investors surveyed (28%) said they had ever had problems completing trades on their OEO platform, including 9% who said they had difficulties due to market volatility in February and March 2020, and 11% who said so during a previous period of turmoil or market crash. In terms of account access, 11% said they had trouble logging into their account during the pandemic due to technical issues with their broker or investment dealer. 10% said they had previously had access problems and 7.3% said they had had problems both before and during the pandemic.
When asked which investment products they own inside or outside an RRSP, RESP, RRIF or TFSA, nearly two-thirds of respondents said they own mutual funds (63%) and six-tenths (59%) said they own individual stocks . ETFs and REITs were given by 31% of those surveyed.