The September 11 terrorist attacks in the United States have caused a significant number of Canadians serious concern about job security and their long-term financial security, but they are not making any dramatic changes in their investment portfolios according to a recent Gallup Canada Survey conducted on behalf of Investors Group.

“While the tragedies did not happen on Canadian soil, it is clear many Canadians have suffered an emotional and psychological impact,” said Sandra Metraux. senior vice president of Strategy and Corporate Marketing at Investors Group.

The survey showed that approximately two-thirds of those who responded were either very concerned (22%) or somewhat concerned (45%) that the job situation and overall employment in their community would be affected by the terrorist attacks.

Similarly, 70% were either very concerned (20%) or somewhat concerned (50%) about the impact on their long-term financial security.

In spite of elevated levels of concern, a majority of the respondents (59%) said they would not make any changes to their investments.

Among those who plan to adjust their investment portfolio, more security is the most popular objective. In fact, 26% of respondents said they are planning to adjust their investments seeking more security compared to 18% who plan to adjust for greater returns.

The survey also indicated that most respondents (79%) did not call a financial professional for investment advice following the September 11 incidents. Nine per cent said they had called while 12% said they planned to call.

“This research confirms our sense that many people would be concerned about their financial security after September 11th and that most would not necessarily call their advisor,” said Metraux. “Our consultants proactively contacted clients in the first days after September 11th to provide reassurance and answer questions.”

The Gallup Poll conducted on behalf of Investors Group revealed that investors are continuing to moderate their expectations for rate of return from their investments.

The number of respondents expecting investment returns greater than 15% was reduced by about half from April 2000, at the height of the technology sector boom (15%) to the most recent survey (8%). Likewise, in April of 2000, 47% of respondents expected a return of less than 10% while, in September 2001, two-thirds (67%) now expect their long run investment return to be less than 10%.

This Gallup Canada Survey conducted on behalf of Investors Group consisted of telephone interviews with 1,005 adults between September 17 and 24, 2001 and is considered accurate within a 3 percentage point margin of error, 19 in 20 times.