Traditional media offers best financial tips, say investors

Despite the steady adoption of social media, most Canadian investors (57%) still rely on traditional media sources for investment-related news, says a new BMO study.

It adds only one-third look to social media for information. The specific media platforms used include:

• Television and business news shows (36%)
• Print editions of newspapers and magazines (30%)
• Online editions of newspapers and magazines (24%)
• An online investing service provider (22%)
• Online financial communities and forums (22%)
• Radio (12%)
• Facebook (9%)
• Blogs (7%)
• Mobile investing app (5%)
• Twitter (4%)
• LinkedIn (3%)

When asked how reliable each of these sources are, respondents said they trusted traditional media like news shows and papers most (61%). Only 24% rely on social media platforms.

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Staff

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