Friday, May 20 2022

TORONTO, January 17, 2022 /CNW/ – Scotiabank Launches Scotia Advice+ Sleep Advisor – a suite of investment tools, including a sleep advisor hotline and an online hub for sleep advisors on Advice Centre+, designed to help ease Canadians’ concerns about their investments and help them sleep better. The new tools arrive in time to combat Blue Monday, which marks the lowest points of the year for many and when financial stress leads to more sleepless nights.

Scotiabank Logo (CNW Group/Scotiabank)

A recent Scotiabank worry survey revealed that 3 in 4 Canadians (75%) spend, on average, 10 hours a week worrying about their finances. The results also showed that it particularly affects young Canadians aged 18 to 34, who worry an average of 12 hours a week, compared to those aged 55 and older who worry only 6 hours a week.

“We’ve all been there – it’s 2am and you’re staring at the ceiling, wondering if you’re investing enough for your future. It’s concerning that Canadians, and especially young Canadians, are losing sleep over their investments, and that’s why we’ve created the Scotiabank Sleep Advisor tools so Canadians can rest easy knowing that Scotia advisors have their backs,” said D’Arcy McDonald, Senior Vice President, Payments and Unsecured Lending at Scotiabank. “We know that when Canadians work with an advisor, they’re less likely to worry about their finances. Even that initial consultation can be invaluable in helping them sleep worry-free.”

Scotiabank Advice+’s new Sleep Advisor tools include:

  • Sleep Hotline: Canadians shouldn’t lose sleep over their investments, which is why we’ve created the 1-833-SLE-EEEP helpline to support their financial peace of mind and help them sleep better. During the day, they can call for telephone banking advice or make an appointment with a Scotia advisor for a tailored Advice+ plan. The hotline is also filled with a few surprises to make the experience less stressful, including unique daytime and nighttime meditations. At night, clients can make an appointment for advice or listen to a guided meditation if they really need something to ease their financial worries and help them fall asleep.

  • Sleep Advisor Center: Whether it’s a question about RRSPs, TFSAs, mutual funds, GICs or other investment options, Canadians can search the updated Advice Center+ on Scotiabank.com , where articles and FAQs have been reorganized according to the stage of the customer’s life. easier to find the investment advice that suits them best.

A recent Scotiabank poll found that the majority of Canadians say they have basic or average investment knowledge (64%) and just over half (56%) can confidently explain the difference between a Registered Savings Plan (RSP) and a Tax-Free Savings Account. (TFSA) to their friends.

At the regional level, the inhabitants of alberta (21%) are more likely to describe their investment knowledge as exceptional or competent, compared to residents of Quebec (9%) and the Atlantic provinces (6%).

31% of Canadians aged 18-34 say thinking about how much money they will need in retirement keeps them up at night.

36% of Canadians said they are hesitant to invest right now due to the increase in Omicron variant cases.

The top questions keeping Canadians up at night are how much they will need for retirement (21%), how to grow their investments (17%) and where to start (11%).

Scotiabank’s Sleep Advisor tools can help customers with a wide range of financial issues, in three main areas:

  1. To start – Simple step-by-step guides for financial planning, investing, budgeting and more

  2. Plan your life – Find the right financial advice for what’s going on in your life today, like retirement, becoming parents or starting a business

  3. Bank 101 – Learn about common banking tasks and products from Scotia finance experts

Methodology

These findings were drawn from two national surveys recently conducted by Maru Public Opinion – one of 1,510 (October 12-13, 2021) and the other 1,513 (January 7, 2022) randomly selected Canadian adults. The results were weighted according to education, age, gender and region (and in Quebec, language) to match the population, according to census data. Discrepancies in or between totals are due to rounding. Detailed results can be found at Canadian Public Opinion Polls | Maru Group

About Scotiabank
Scotiabank is a leading bank in the Americas. Guided by our purpose: “for every future”, we help our clients, their families and communities succeed through a wide range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporates and investments. banking and capital markets. With a team of approximately 90,000 employees and assets of approximately $1.2 trillion (from October 31, 2021), Scotiabank is listed on the Toronto Stock Exchange (TSX: BNS) and the New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @ScotiabankViews.

SOURCEScotiabank

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