Many younger Canadians are turning to self-directed investing to help save for the future, a trend that advisors should see as an opportunity to educate them on the markets, while tying those investments into a broader wealth management plan.shows 48 per cent of participants aged 18 to 34 started self-directed or do-it-yourself investing during the pandemic and 87 per cent were doing it to achieve long-term financial goals and future financial security .
“They see value in both,” she says. “There are a lot of newer investors who are still very much building their knowledge and expertise in making investing decisions.” He sees some benefits in people managing some of their own money, especially as the costs of DIY investing have come down. It also helps them understand how markets work better.
Advisors can also act as coaches to prevent clients from making poor investment decisions – like panic selling in a market downturn or buying stocks based on hype – that could have an impact on their long-term financial goals.
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