-- Standard Life launches Financial Inertia Program to help get
Canadians moving towards their long-term savings and investment
-- Research shows how life goals, concerns, behaviours and values
impact Canadians' investment decision-making - and hold them
back from investing
-- Over 40% of Canadians are very concerned with their finances
MONTREAL, Oct. 22, 2013 /CNW Telbec/ - The Standard Life Assurance Company of
Canada ("Standard Life") today launched a comprehensive program at
financial-inertia.com, aimed at getting Canadians moving and breaking free
from financial inertia, primarily due to financial uncertainty and the volume
and complexity of information. At the heart of the Financial Inertia Program
is the Motion Profiler, a new online tool all Canadians can use to understand
how finances and investing fit into their broader life goals and concerns, and
what might be preventing them from saving or holding them back from investing.
"Financial inertia happens when investors are unable to make sense of the
market volatility and sort through the volume of financial information and its
impact on their long-term savings strategy. As a result, they may slow down or
stop investment decision-making altogether," said Charles Guay, President and
CEO of Standard Life. "Even those who actively manage their savings can
benefit from understanding their financial mindset. Standard Life's Motion
Profiler is a simple and easy place to get started. Through this program, we
want to give Canadians a clear call to action to help get them moving and
become more proactive in managing their finances."
Standard Life's Financial Inertia Program is aimed at all Canadians. Once on
the financial-inertia.com site, a person self-selects their particular path:
individual investor, advisor, group retirement plan member or employer. Each
audience benefits from a personalized landing page with tools and information
relevant to them.
Investors are directed to the Motion Profiler tool, which will determine which
of five Motion Profiles best corresponds to their mindset. Standard Life
partnered with Environics Research Group and tapped into its Social Values
Monitor, a longstanding study of social values in Canada, to focus on specific
perspectives relating to finance and investment, in order to develop the five
profiles. These are based not on financial outcomes such as income, assets or
life stages, but on inputs such as social values, attitudes and motivations
that drive Canadians to be either more or less engaged with their finances.
The goal is to help Canadians understand what's holding them back and enable
them to take action and become more disciplined in saving for the long-term.
Select Standard Life proprietary questions focusing on investors' confidence
in the economy and their own employment and financial situation, combined with
the 250+ attitudinal and psychographic questions as well as demographic
measures that are the foundation of Environics Research's Social Values
Monitor, uncovered these five profiles.
Each profile presents a snapshot of the investor and includes a call to
action. The five Motion Profiles are:
Sophisticated Investor In-charge with the determination to achieve
15% of Canadians
Confident Accumulator Ambitiously striving to get ahead
23% of Canadians
Contented Passive Financial matters are a routine chore
21% of Canadians
Cautious Analyzer Constantly worrying about the future
20% of Canadians
Concerned Investor Struggling and uncertain how to improve
22% of Canadians
"This tool provides a different perspective. It allows Standard Life to
present the profiles not as simple classes of investors based on their
portfolio size and risk profile, but as people first," said David MacDonald,
Group Vice President, Custom/Financial, Environics Research Group. "By going
beyond the mandatory financial questionnaires that already exist in the
market, Standard Life is demonstrating its commitment to thinking outside the
box and providing their investors with the best tools possible."
For Standard Life, this program represents a major commitment to helping
Canadians who face challenges with long-term saving and investing. "We believe
all Canadians, whether they already actively invest or are interested in
starting a more formal, long-term savings strategy, should begin with a solid
understanding of why they make certain decisions about their finances," said
Michel Fortin, Senior Vice-President, Marketing and Customer Solutions at
Standard Life. "We also believe in the value of independent advice, and for
advisors, Standard Life's Motion Profiler tool helps them to better understand
their client's investor mindset and accelerates the relationship-building
Standard Life also revamped its Education Centre to address plan member
financial inertia for its group savings and retirement plans, with videos,
interactive tools and content to get them planning and gaining confidence.
"This is also a key concern for plan sponsors," added Fortin.
Fact sheets available as attachments to this release:
-- Motion Profiler
-- Motion Profiles
About Standard Life
Standard Life provides long-term savings, investment and insurance solutions
to more than 1.4 million Canadians, including group retirement and insurance
plan members. Standard Life in Canada has been doing business for 180 years
and has approximately 2,000 employees. It operates under Standard Life
Financial Inc., which wholly owns The Standard Life Assurance Company of
Canada and Standard Life Mutual Funds Ltd.
Standard Life Financial is the largest operation outside the United Kingdom of
Standard Life plc, its parent company headquartered in Edinburgh, Scotland.
Standard Life plc has around six million customers worldwide and operates in
the UK, Canada, Europe, Asia, the Middle East and globally with Standard Life
As at June 30, 2013, Standard Life plc had $372.5 billion in assets under
administration, including $45.4 billion in Canada through Standard Life
About Environics Research Group
Environics Research Group Ltd. is a leading marketing and public opinion
research firms, with a reputation for integrity, accuracy, and insight.
Environics is a fully Canadian-owned company that has been providing
consulting and research services for businesses, governments and
not-for-profit organizations for more than 30 years. Established in 1970, the
firm has evolved into a multi-disciplined international research and
consulting group offering a broad range of research services to business and
government, with its headquarters in Toronto and with offices and affiliates
in Calgary, Montreal, Ottawa, and San Francisco.
SOURCE Standard Life
Ann-Marie Gagné 514-499-7999, poste 4600 email@example.com
Daniela Gentile 647-259-3316 Mobile: 647-338-4388
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CO: Standard Life
NI: INS FIN
-0- Oct/22/2013 15:19 GMT
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