This is the first in a regular/occasional series on information for advisors intended to help them better understand their clients and possibly open up new niche markets to them.

It is based on data gleaned from surveys conducted by BBM Canada, a Toronto-based not-for-profit, industry-owned and -run broadcast audience research organization. BBM Canada conducts a bi-annual 80-page survey with a sample size of more than 55,000 respondents, providing detailed insight into the consumer preferences of Canadians across a spectrum of industries including financial, banking and e-commerce.

Today’s “factoid” is taken from a survey conducted last year.

Low-income group has hefty savings

Survey helps advisors get to know their clients

According to BBM, 7% of Canadians who have more than $100,000 in savings and investments earn less than $10,000 a year.

This group is largely female (75%) and 36% are homemakers, almost four times the national average. The largest portion, 32%, are between the ages of 45 and 64, while 24% are between 12 ands 24, and 29% are between 25 and 44; 14% are 65 and older. About a quarter (26%) have some or have completed college, while 6% have some university education.

Half are not employed, while 36% are part-time employees, 15% are students and 19% are retired. Almost three-quarters (72%) own their own home and almost half (49%) have children under the age of 18 in the household.

As for investments, almost half (46%) do not have RRSPS, while 34% have less than $2,500 in an RRSP and only 8% have between $2,500 and $5,000 in their plan. This group is also more than three times as likely to have an investment in real estate. Meanwhile, 16% (one-and-a-half times the national average) spend between $20 and $29 a month on lottery tickets.