Sometimes it is easier to share a bed than to share a brokerage account.
Another of the major chartered banks has dispatched a data collection team to test the opinion of Canadians on money matters.
This one, conducted for ScotiaBank, coincided with the approach of Valentine’s Day similar to one published by TD Bank. TD found a lot of younger couples were leaning towards individual rather than joint bank accounts. Scotia found similar attitudes towards investment accounts.
The issue, says ScotiaBank’s study, is not about privacy …it’s about risk tolerance and both halves of a couple finding themselves on the same side of the ledger.
Nearly 40-percent of the couples that responded said they shied away from joint investing because they could not reconcile their risk tolerances. About a third said they opted to go alone because their spending or saving habits differed from their partner’s.
A far greater percentage of younger Canadians see the benefit of investing jointly and needing investment advice. Boomers, on the other hand, have the most trouble agreeing on how much risk to take on.
