Investor knowledge improving following changes to fee disclosures: BCSC study
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VANCOUVER — Investor knowledge has improved since changes to improve the disclosure rules governing investment fees, a study commissioned by the B.C. Securities Commission says.
The report was part of a study that has tracked investor knowledge and behaviour before and after the changes.
The provincial regulator says 52 per cent of investors who expressed less confidence and investment knowledge at the start of the study increased their general understanding of fees after receiving the new reports.
Meanwhile, those who expressed more confidence and investment knowledge at the beginning took action with 16 per cent engaging in new communication with their adviser, 25 per cent making a change to their fees or mix of investment products, and 11 per cent changing their firm or adviser.
Canadian investors began receiving new charges and compensation reports in January.
The survey was conducted online and did not include a margin of error.
If you want your children to be smart about money, then you have to take the time to teach them.
If you have a parent who is irresponsible with money, you need to recognize this is not your problem.