Canadian women consider themselves financially successful and want to manage their own investments, but they are limited by a lack of confidence in their investment abilities according to a recent poll conducted by TD Wealth Management and Environics Research.

The poll surveyed women across the country about their interest in, comfort with, and attitudes toward investment and financial management.

Though the vast majority of respondents are interested in the management of household finances and investments, less than half of the women contribute to an RRSP, and almost 40% say they lack confidence in their ability to manage their investments.

The survey polled 900 Canadian women aged 25-69, who have either sole or shared responsibility for investment and financial planning. Interviews were conducted with women representing a variety of income levels, marital statuses and educational backgrounds.

The results indicate that women have an increasing desire to manage their finances: 87% of women interviewed are interested in playing a role in their household’s financial and investment decisions; 63% of women are more interested in financial planning and investing than they were five years ago.

Just half of respondents have formalized their goals with a financial plan, and most respondents indicate a greater confidence in planning for retirement, than in overall investing: 78% feel able to plan for retirement; 61% are comfortable managing general investments; 46% own an RRSP; 62% hold nothing outside their RRSP.

One in five female investors has more than $100,000 in her personal investment portfolio, but only 4% of all female investors consider themselves “advanced.” Almost all female investors categorize their investment style as low-risk or medium-risk. Women seek information and advice on finances and investing from: financial professionals (61%); the Internet (37%); and courses and seminars (19%).

“While it’s encouraging to see more women showing an interest in investing, this survey points to a definite need for education in the areas of financial planning and investing,” says Patricia Lovett-Reid, VP and managing director, TD Asset Management Inc.”