According to a TD Waterhouse Investor Poll, young adults aged 18-24 are less likely than older investors to use all types of investment services, less likely to have a professionally-developed financial plan and more likely to be managing their investments entirely on their own. When asked if they used the services of a bank, credit union or trust company for their investments, six in ten young adults answered affirmatively, only slightly less than the national average. However, when asked if they used more specialized services including those of a financial planner, full-service broker, discount broker or investment manager, in all cases the propensity to use such services is dramatically lower among 18 to 24 year olds. "This is a classic 'Catch 22' scenario," says says Patricia Lovett-Reid, Senior Vice-President, TD Waterhouse Canada Inc. "Younger, inexperienced investors are in need of the most guidance and encouragement in setting and achieving financial goals. Yet it appears they're least likely to be getting such advice."



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Posted: 01|31|07 at 12:39 am. Filed under: News.