TORONTO, Sept. 16, 2020 (GLOBE NEWSWIRE) -- Environics Analytics (EA) today announced the launch of WealthTransfer, a new financial database that estimates the likelihood of Canadian households receiving an inheritance within a given year and quantifies the total potential inheritance amount. These data can assist financial institutions, real estate companies, retailers, auto dealerships and not-for-profits in identifying Canadians that are more likely to make big-ticket purchases, donate to charitable causes or plan for their financial future.
WealthTransfer is the latest addition to EA’s suite of financial products and provides a greater understanding of Canadian households’ financial position. Developed using inputs that include Statistics Canada’s 2017 Survey of Financial Security (SFS), WealthTransfer is modelled to the postal code level using key demographic and economic predictors derived from EA’s comprehensive data sources.
“An estimated $1 trillion is expected to be transferred between generations in the next five years, which is unprecedented in Canadian history,” says Catherine Pearson, EA’s Senior Vice President and Practice Leader for the financial sector. “By identifying and quantifying what is happening at the neighbourhood level, WealthTransfer can help business and not-for-profits alike seize upon this significant opportunity.”
WealthTransfer also includes score and index variables that allow users to easily create customer or postal code rankings and inform economic models. This product is available for all postal and census geographies and is available within EA’s analytics platform, ENVISION, to run dashboards, profiles, rankings and maps.
WealthTransfer helps answer questions such as:
- What is the average inheritance potential within my trade area?
- What customers, donors or neighbourhoods are most likely to receive an inheritance?
- What segments have the highest inheritance incidence rates?
- What is their average inheritance?
- Which areas of the city have higher inheritance rates?
For additional information on WealthTransfer, please visit: https://environicsanalytics.com/en-ca/data/financial-databases/wealthtransfer
For more information on other products and services from Environics Analytics please visit www.environicsanalytics.com
About Environics Analytics
Environics Analytics (EA) is the premier marketing and analytical services company in North America, helping thousands of customers across every industry sector turn data and analytics into strategy, insights and results. Established in 2003, we specialize in using best-in-class data, analytics expertise and purpose-built software to address key challenges in areas such as consumer profiling and segmentation, multichannel media planning and execution, trade area analysis, merchandising strategies and site location decision-making. Our ENVISION platform provides quick and easy access to our comprehensive and privacy-compliant databases—including the latest mobile movement data—to generate deep consumer and market insight, authoritative reports and detailed maps. Environics Analytics' team of statisticians, modellers, geographers and business strategists help organizations develop data-driven solutions and achieve success along every phase of their analytics journey. Learn more at www.environicsanalytics.com
Contact: Catherine Pearson
SVP and Practice Leader - Finance
catherine.pearson@environicsanalytics.com