Savings and Investments - Canada - January 2015
“Devising innovative incentive schemes is the key to encouraging product consolidation and achieving the Holy Grail of increasing customer wallet share in the savings and investments marketplace.”
– Sanjay Sharma, Senior Financial Services Analyst
This report discusses the following key topics:
- Strategies to encourage product consolidation
- Successful customer acquisition through better alignment of marketing strategies with customer choice factors
- Helping financially less prepared groups meet their financial priorities
- Understanding the distinct financial attitudes of Chinese Canadians
Low interest rates, volatile stock markets and a tepid economy have impacted the savings of many Canadians. In addition to this, there are concerns about the housing market and the economic fallout that might result from an increase in interest rates due to the high levels of household debt that Canadians have. But Canada’s government-funded pension plan and retirement income system remains strong. Additionally, a large number of Canadians own registered (tax-advantaged) as well as non-registered investment vehicles and the financial sector is in robust health.
This report covers the drivers of the savings and investments market in Canada, exploring trends related to ownership of products, how Canadians choose their financial institution for deposits and investments, main financial priorities of Canadians, levels of consumer confidence and attitudes towards savings and investments.
Employer-sponsored pension plans and government programs such as CPP, OAS, etc.
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