Canadians cautious about investments

A recent Scotiabank poll found that while Canadians’ overall economic outlook is more optimistic, they are still hesitant when it comes to their personal investment strategies in the fluctuating economic environment. Canadian optimism for the economy moved to 49%, up significantly from last year (39%).

Despite the rise in optimism, 62% of Canadians viewed maintaining their current market position as the wiser investment strategy for the remainder of this year.

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“With the increased volatility in global markets earlier this year and unpredictable developments going into 2013, it’s not surprising that many Canadians continue to take a more cautious approach to their investment decisions,” said Andrew Pyle, ScotiaMcLeod wealth advisor.

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“In any economic environment, the best practice is to regularly review your risk assessment with respect to your investments. Sitting down with a financial planner can help you see where you are and where you need to go in a way that suits your tolerance level and lifestyle goals,” he added.

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.