Scotiabank Launches Advice+ to Help Canadians Navigate Their Financial Plans During COVID-19
- 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
"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
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.
: The Scotiabank COVID-19 poll was conducted online between
Scotiabank is a leading bank in the