This is another in a regular 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.

Are advisors missing opportunities at tax time? According to surveys by BBM Canada, they may well be.

The survey shows only about one-third (32%) of Canadians used an accountant or a professional financial advisor to prepare their last tax return, while more than half (55%) did their last tax return themselves or used a friend or a relative. The remainder (13%) used a tax preparation service or other type of service.

Moreover, of those who used an accountant or a professional financial advisor to prepare their taxes, 35% do not have a RRSP, says the BBM survey, conducted last year. Of those who have an RRSP, only 23% contributed the maximum to their RRSP last return.

Of those who used a tax preparation service or other type of service, 49% do not have an RRSP, while only 14% who do have an RRSP contributed the maximum on their last return.

Many of those who used an accountant or a professional financial advisor to prepare their last tax return are older and tend to have high personal incomes, the survey shows. The largest age group (20%) is between 45 and 54, while slightly more (53%) overall are women. Canadians who have a personal yearly income of $150,000 and more are 82% more likely to have used an accountant or advisor at tax time, while those in “upper occupations” such as store owner and senior management, are 22% more likely to have gone to an accountant or advisor.

The region most likely to have used an accountant or advisor is Quebec, with 36% versus the Canadian average of 32%. Meanwhile, Canadians who used a tax preparation service or other type of service to prepare their last tax return tend to be older and may work in primary occupations. According to the survey 20% of this group are 65 and older, and about half (51%) are female. Regionally, 18% of Atlantic Canada use this service; 14% of people in Ontario, 13% of British Columbians, 13% of people from the Prairies and 7% of Quebecers. The national average is 13%.

People in primary occupations (such as labourers or farmers) are 48% more likely to have used a tax preparation service or other type of service.