-TD Waterhouse releases 10th annual Female Investor Poll-

MONTREAL, Sept. 28 /CNW/ - Daughters learn many life lessons from their mothers but investing is not necessarily one of the lessons. In fact, more than three-quarters of Quebec women feel that they are savvier investors than their mothers were at the same age and four out of five say they make sounder financial decisions. This is according to the 10th annual TD Waterhouse Female Investor Poll which surveyed women aged 45 to 64 who share in the responsibility of their household's finances. The poll also found that women in Quebec are the most likely in Canada to say they are "fully satisfied" with their investments.

Financial advice from your mother...or lack thereof

When asked, "what was the best financial advice you received from your mother", the top answer was "no advice" (29%). The second most popular answer was "save as much as you can for the future" (18%), followed by "don't spend what you don't have" (10%) and "budget and spend responsibly" (9%). Only 3% told their daughters to invest.

"Financial know-how is an important life lesson and women can gain many valuable insights from their mothers," says Natalie Amzallag, TD Waterhouse Financial Planner. "The best financial advice that my mother gave me when I was young was to ensure that I had the information and knowledge to step in and take on the household's financial responsibilities at any time. Being informed about your personal finances is key to empowering yourself and allows you to make educated financial decisions."

Financial independence is essential for women today

Only 6% of mothers told their daughters to be independent and have their own investments and bank accounts. Contrast that to today, 72% of women have savings and investments in their own name. Quebec women who are married (or common-law) are most likely to keep completely separate bank accounts from their partner (51% vs. 30% nationally). One-third have a joint account as well as separate accounts and the 18% have only joint accounts with their partner.

Women in Quebec are the most likely in Canada to say that they are fully satisfied with their investments (9% vs. 4% nationally), another 52% say they are content with their investments. Those women who feel content with their investments are more likely to have a financial plan than those who feel worried.

"It should come as no surprise that those with a financial plan feel more content with their investments," says Amzallag. "Working with a trusted financial adviser will help you clearly articulate your personal financial goals. Together you can lay out an action plan of how you can build a financially secure tomorrow, while continuing to enjoy your today."

Mom's role in financial planning and investment decisions

Forty-two per cent of Quebec women say that their mother shared some of the responsibility for investment decisions with their father while another 37% say their mother was not involved. One-in-five say their mother had sole responsibility for household financial planning. Those more likely to say that their mother was solely responsible include those that are solely responsible themselves more than those who share it jointly (26% versus 15%).

About the TD Waterhouse Female Investor Poll

The TD Waterhouse Female Investor Poll surveyed 1,010 adult women aged 45-64 who are share in the responsibility of planning the finances for their households. Results for this study were collected through an online survey of Canadian women investors by Environics Research Group, conducted between August 20-27, 2010. Of the total sample, 230 women were in Quebec.

About TD Bank Financial Group

The year 2010 marks the 150th anniversary of TD Bank Financial Group in Quebec. TDBFG has built on a long tradition of quality client service and community involvement that dates back to the opening of the first branch in Quebec in 1860. Today, TDBFG's Quebec presence includes over 4,000 employees and 125 offices and points of service, as well as significant investments in community programs.

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Financial Group (TDBFG or the Bank). TDBFG is the sixth largest bank in North America by branches and serves more than 18 million customers in four key businesses operating in a number of locations in key financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Insurance; Wealth Management, including TD Waterhouse and an investment in TD Ameritrade; U.S. Personal and Commercial Banking, including TD Bank, America's Most Convenient Bank; and Wholesale Banking, including TD Securities. TDBFG also ranks among the world's leading online financial services firms, with more than 6 million online customers. TDBFG had $603 billion in assets on July 31, 2010. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.