Due to volatility financial markets have experienced in recent weeks, the Bank of Montreal is encouraging Canadians to stay on top of their investments, as they tend to be neglected this time of year.
"This summer has seen a high degree of market volatility, and although many Canadians use the summer as a time for rest and relaxation, their portfolios still require monitoring," said Serge Pepin, head of investments for BMO. "Even though life traditionally slows down during this time of the year, it is essential that we continue to pay attention to our financial portfolios in order to minimize risk."
BMO has a couple of recommendations to help ensure Canadians enjoy their summer getaways.
For instance, before heading off on vacation, the source says individuals should tell their financial advisor about where they're headed. That way, they can be apprised of any major issues.
Another tip from BMO is for vacationers to stay on top of current events by seeking out Canada-centered financial headlines, as this provides an additional backstop and keeps people from feeling cut off from news at home.
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