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The new web-based app was founded by an entrepreneur dedicated to helping people make better and more informed investment decisions
CALGARY, AB, Jan. 12, 2022 /CNW/ – A new Canadian company is changing the game when it comes to the way Canadians think about financial risk and making investment decisions. Savvy Beagle is a risk analysis tool that helps people make better informed investment decisions through portfolio simulations.
According to data from the Government of Canada, Canadians are facing mounting financial pressures and stress, and a desire to improve their financial knowledge.
Almost half of Canadians (44 per cent) engaged in some type of financial education to strengthen their financial knowledge over the past five years, with more than half of Canadians aged 18-34 (56 per cent) taking steps to strengthen their financial knowledge.1
The pandemic has exasperated financial stress for many Canadians. Not only are one in three Canadians worse off now than before the pandemic, but 64 per cent of DIY investors have lost confidence in what their finances will look like once COVID-19 is behind us.2
Savvy Beagle provides a solution to help investors at any age and stage of their financial journey. Novice and intermediate investors to financial advisors can build portfolio simulations that test stock combinations and evaluate individual stock and portfolio risk changes. Once users are comfortable with the investment and potential risk, they can go invest that money in their preferred trading service. Users can select a free or paid subscription to access the tool.
"With more than 25,000 listings including common & preferred stocks, mutual funds, index funds, closed-end funds, real estate investment trusts and exchange-traded funds, there are countless portfolio simulations to be created," says founder and principal Larry Betts.
After more than 25 years working in the financial services industry, Betts recognized that a vast number of Canadians lacked the skills and confidence to understand their investments and how to assess risk. Says Betts, "Today's modern investors don't want to just be categorized within defined risk buckets, they want to understand risk and gain confidence to make informed investment decisions."
Around 34 per cent of Canadians believe finances control their life3, so Betts founded Savvy Beagle as an approachable way to make people feel more confident and empowered in their decision-making. The tool will benefit financial advisors, too. Adds Betts, "Savvy Beagle has been designed to help all investors on their financial journey," says Betts, "Whether they are a novice investor or are a seasoned financial advisor, Savvy Beagle will help make Canadians feel more comfortable with the word risk."
The web-based application uses stock price volatility to access risk. Savvy Beagle uses historical price movements to estimate future potential risk, growth and decline to forecast risk. By analyzing separate listing price movements to identify how upward and downward price movements work together, users can identify the influence each has on portfolio risk and returns.
To learn more visit savvybeagle.com.
1
https://www.canada.ca/en/financial-consumer-agency/programs/research/canadian-financial-capability-survey-2019.html
2
https://fpcanada.ca/docs/default-source/news/coping-with-covid-19-survey.pdf?sfvrsn=ea3fed97_4
3
https://www.canada.ca/en/financial-consumer-agency/corporate/covid-19/summary-covid-19-surveys.html
About Savvy Beagle
Established in 2021, Savvy Beagle is a trusted companion in financial investing. By using historical price movements to estimate future potential risk, growth and decline, Savvy Beagle forecasts risk to help investors make more informed financial decisions. Visit savvybeagle.com or follow on Facebook, Instagram and LinkedIn.
SOURCE Savvy Beagle
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2022/12/c2834.html
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