More and more women are taking control of the family finances and are often acknowledged as the "chief financial officer" of the household. According to a BMO study, 82% of Canadian women are either the primary decision-maker or have equal responsibility for household financial decisions. On a larger scale, women control about one-third of all wealth in North America, with this number increasing by 8% every year.
Given these numbers, it is no wonder that women have become more engaged investors—and many are adopting online investing as a way to manage their portfolios.
However, studies also show that many women still lack confidence in managing their finances and tend to seek out advice more than men when making investing decisions.
Some experts point out that BMO recently introduced 'adviceDirect', an innovative service that provides investors with advice on how to manage their investment portfolio. The first service of its kind in Canada, it puts you in control by providing specific recommendations to help manage your portfolio. This online service is tailored for those who want to invest on their own but receive advice when making their decisions.
Alternatively, investors can choose a self-directed service that provides tools to help make independent decisions.
Related Stories
