The Canadian Investment Regulatory Organization (CIRO) released details of a study earlier this month on do-it-yourself (DIY) investing. The news isn’t great. These investors think they can do better on their own, they believe it gives them an opportunity to improve their financial literacy and it makes them feel like they’re taking responsibility for their financial future.

“Being an investor is an identity in and of itself,” said  Alexandra Williams, senior vice-president strategy, innovation and stakeholder protection at CIRO. “Investing gives people a strong sense of confidence and personal satisfaction. DIY investors feel like they are taking responsibility for their investments and DIY investing is one way for them to feel like they are in the driver’s seat of their own life.”

Too often, these would-be Max Verstappens are looking to finfluencers and other social media figures for guidance. Some work with financial advisors, but that’s not where they’re going for direction. Increasingly, investors are opening DIY accounts without telling their advisor.

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Regulators are once again pledging to look into banks’ sales practices after bank reps reported in an anonymous survey that they feel pressure to sell. In fact, 25% of those polled said they believe that clients have sometimes received recommendations that aren’t in their interest. James Langton reports — and he also takes a look at what research into the topic by our sister publication Investment Executive reveals.

The Liberals first floated a temporary reduction on RRIF mandatory minimum withdrawals in April, as part of their election platform. Three months later, is the idea already moot? Michelle Schriver’s got the story.

Complaints about account transfer delays are surging. Could automated, real-time technology hold the answer? In a new white paper, Canadian Investment Regulatory Organization calls for solutions from fintechs, and for rule changes that would mandate a 10-day transfer deadline, James Langton reports.

Mike Banham examines the pros and cons of lifestyle segmentation versus behavioural segmentation of your client base — and why you might consider using both models.