Canada’s mutual fund companies were required as of July 1st to post new, plain-language disclosure documents called Fund Facts – more than 25,000 documents in total – on their websites so investors and advisors could access them. A new survey of financial advisors shows not only that Fund Facts are popular, but so is a new website launched in October – InvestorPOS.com – which makes the complex world of investment management a simpler place for advisors and their clients.
The first ever online survey of financial advisors on Fund Facts was conducted by InvestorPOS. Responses were tabulated from 50 of the heaviest users of the site from across Canada. According to the survey, 88% of respondents said Fund Facts provide easy-to-understand documents for their clients. When asked how important Fund Facts are in educating their investor clients, 74% of respondents rated them as ‘important’ or ‘very important’ while only 2% said they were ‘not important’.
Also in the survey:
- 86% of respondents said InvestorPOS.com was easy to use
- 96% said they would use it again
- 76% said InvestorPOS.com saved them time when compared to other sites they tried.
“I like the ease of use and the fact that I can rely on one place to find all my Fund Fact documents rather than searching through fund company websites,” said survey respondent Brendan Gardner, a financial advisor and partner with Love & Persson Group in Dauphin, Manitoba. “You are being very proactive in understanding what your users want to see.”
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