- 62% of Canadians agree getting financial advice is more
important now than before the COVID-19 pandemic
- Half of Canadians (51%) have shifted their financial goals
due to the challenges posed by COVID-19
TORONTO, Sept. 21, 2020 /CNW/ - Today, Scotiabank launched
Advice+, a service that offers customers a range of new options to
seek financial advice during these challenging times, from a new
self-serve ScotiaAdvice Centre online, to a personalized Advice+
financial plan to meet their unique needs, today and tomorrow.
Canadians can visit the new ScotiaAdvice+ Centre or contact a
Scotiabank advisor today to discover the power of a simple
conversation.
"Helping our customers become better off is what our dedicated
team of advisors does each and every day, and Advice+ helps deliver
on that promise," said Dan Rees,
Group Head, Canadian Banking, Scotiabank. "Now more than ever,
Canadians are looking for targeted, personalized financial advice
to help them navigate through these uncertain times. We're very
excited to bring Advice+ to life, empowering our advisors and
customers with tools and solutions as we work through these complex
times together."
A recent Scotiabank poll revealed that 62% of Canadians agree
that getting advice from an advisor is even more important to them
now than it was before the pandemic. And 25% are looking to a
financial advisor to help them with their finances. The poll
revealed that nearly half of Canadians (51%) have hit pause to
reassess their financial goals due to the challenges posed by
COVID-19.
Shifting Priorities and the Need for Advice:
- Since the pandemic began, Canadians have hit pause on their
retirement plans (-5%) and travel (-9%) goals to
focus on paying off their day-to-day expenses (+11%).
- Of those Canadians who have shifted their goals a lot, just
15% have a written financial plan, nearly 20% claimed to be
uncomfortable with their finances.
- More than 25% of Canadians said they feel like they only
understand the basics' or 'feel completely clueless' about
their finances.
- 62% of Canadians with a financial plan have intentions to
update or revisit their plan because of COVID-19, just
12% without a financial plan intend to build one.
- As a result of the pandemic, 25% are looking to a financial
advisor to help them with their finances. Scotiabank's team of
financial advisors is ready and available to help Canadians
navigate through these uncertain times.
Methodology: The Scotiabank COVID-19 poll was
conducted online between May 15 –
28th, 2020, with a nationally-representative sample of 1,009 adult
Canadians (18+ years of age) who are the primary or shared decision
maker for their household finances. The sample was drawn from the
Nielsen Consumer Insights Online panel. The overall data has been
weighted by age, gender, and region to be representative of the
Canadian adult population.
About Scotiabank: Scotiabank is a leading bank
in the Americas. Guided by our purpose: "for every
future", we help our customers, their families and their
communities achieve success through a broad range of advice,
products and services, including personal and commercial banking,
wealth management and private banking, corporate and investment
banking, and capital markets. With a team of over 90,000
employees and assets
of approximately $1.2 trillion (as at July
31, 2020), Scotiabank trades on the Toronto Stock
Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS).
For more information, please visit our website and follow
us on Twitter @ScotiabankViews.
SOURCE Scotiabank