The mutual fund industry helps support the economy.
In a recent report, the Conference Board of Canada said it contributed $17 billion to the country in 2012. The report also found that the industry created almost 200,000 jobs during this period, and many people continue to use these funds to save for retirement.
To read:
- The mutual find industry adds billions to the economy
- Canadians prefer RRSP mutual funds
While customers will likely ask you about mutual funds, they will also look online for news and investing tips. Here is a list of the top ten results you can find when searching for “mutual funds”:
Result #1
Analysis: This article on Wikipedia deals mainly with American investment funds. It contains information about the first mutual funds created – an instrument originated in Europe – but this article will not benefit most Canadian clients.
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Result #2
Analysis: This article on Investopedia also focuses on US funds. If customers are interested in mutual funds, offer them easy-to-read packages explaining how vehicles are used, taxed and regulated in Canada (Read: How to delight your customers AND Audio Advisor: Customers want simplicity).
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Score #3, #6 and #10
Analysis: TD AND BMO both offer basic information about mutual funds as well as some investing tips on their sites. BMO also offers tab containing information about funds. Manulife primarily presents the offer of its funds.
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Result number 4
Analysis: On this page, the Globe and mail divided the available mutual fund articles into two categories: those that explain how the funds work and those that provide tips on buying and selling them. Be ready to answer customer questions about how to use the vehicle.
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Result number 5
Analysis: This Financial Post article says mutual funds may be losing favor. It states that “the advantages of mutual funds are mostly still relevant, but are no longer unique given the emergence of other (similar) investment vehicles, mainly (ETFs).” However, if mutual funds still work best for some clients, make sure they understand why.
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Score number 7
Analysis: In this article, Financial Post outlines what investors may not like about the mutual fund industry. Suggests that managers charge high fees and use confusing terminology. To ease your worries, check in with your customers regularly to make sure they are satisfied with your services (read also: How much does this investment cost? AND Speak simply and honestly to customers).
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Score number 8
Analysis: This article examines a Canadian couple’s negative experiences with mutual funds. Review such case studies with your clients and address any concerns or questions.
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Score number 9
Analysis: This article discusses the most important Asian investment fund investing in American bonds. The information in this article will not apply to investors unless their portfolios are also tied to US debt (Read: What customers find on Google: US debt ceiling).
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Frequently searched terms
Over the past year, Canadians have searched for “mutual funds” on average more than 6,000 times a month. They also used terms such as:
- Hedge Fund (5,400 times per month)
- Segregated funds (1600 times per month)
- Growth stock mutual funds (1600 times per month)
- Mutual Funds Canada (1,300 times per month)
You can read more about investment funds:
What could unbundling mean for the future of consulting?
Blackrock Canada offers mutual funds
The evolution of mutual funds opens up opportunities
