2020 RIA Investor Opinion Survey

Canadian Retail Investors Seek Diversity & Inclusion in their Portfolios, Want Advisors to Offer Responsible Investments

The 2020 RIA Investor Opinion Survey, which is based on an Ipsos poll of 1,000 individual investors in Canada, found that 73% of respondents would like a portion of their portfolio to be invested in organizations providing opportunities for the advancement of women and diverse groups, and 72% want their fund manager to engage with Canadian corporations to encourage more diversity in leadership.

In addition, the survey found that 89% of respondents believe it is important for Canadian companies to create inclusive workplaces that are free of discrimination, while 85% said Canadian companies should provide more leadership opportunities to qualified women and people of diverse backgrounds.

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The survey, sponsored by AGF Investments Inc. and Desjardins Group, also shows 75% of respondents would like their financial services provider to inform them about responsible investment (RI) options. However, only 28% of respondents have been asked by their provider if they are interested in RI. This gap is consistent with previous years’ findings.

Highlights:

• 89% of respondents believe it is important that Canadian companies create inclusive workplaces that are free of discrimination.
• 85% say Canadian companies should provide more leadership opportunities to qualified women and people of diverse backgrounds; 76% say they should set goals for more diversity in leadership.
• 72% want their fund manager to engage Canadian corporations to encourage more diversity in leadership, and 66% would want them to take action if a company was known to have a culture of discrimination.
• 73% would like a portion of their portfolio to be invested in organizations providing opportunities for the advancement of women and diverse groups.
• While 75% of respondents agreed they would like their financial services provider to inform them about responsible investments that are aligned with their values, only 28% have been asked about RI options.
• 83% of the 18-34 age group are interested in RI and 50% reported they currently own responsible investments. This stands in contrast to 59% of respondents aged 55+ being interested in RI and 20% owning RI.
• Nearly half (45%) of respondents said they are more likely to choose RI than they were a year ago. This percentage jumps to 59% of the 18-34 age group, 51% of university graduates and 58% of households with kids. These figures may be attributable to the pandemic and racial injustice reckoning of 2020, which have led to a greater focus on societal challenges.