This content is provided through a paid partnership between Moving2Canada and Scotiabank.
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How do you feel about talking about money? Does it make you feel uncomfortable, maybe it’s a little taboo? Or would that make you energized and excited?
The reality is that talking about money can be a powerful tool for improving your financial literacy and even your financial outcomes. That’s why around 1 in 3 Canadian residents turn to their bank or other financial institution for financial advice (and many of them access that help for free!).
We’ve heard that many newcomers aren’t sure what a financial advisor is or how speaking with one could help. Let us help you.
Scotiabank advisors can support you in making confident decisions about your banking in Canada.
Whether you’re setting up your first account, switching banks, or looking to better understand your options, you can get guidance tailored to your situation.
What is a financial advisor?
In Canada, ‘financial advisor’ is a general term for someone who helps you manage your money. Their job is to help you with financial information, including guiding you on which financial products are right for you. An important part of their role is to build a trusted relationship with you where you feel safe discussing financial topics and goals.
Generally speaking, these are the types of things that a financial advisor may help you with:
Day-to-day banking
Savings accounts, including tax-advantaged savings accounts
Managing debt
Saving for and/or deciding when to buy a home
Savings account options for your child’s education
Budgeting for you and your family.
Is speaking with a financial advisor worth it?
We would suggest yes, seeking help from a financial advisor can be worth it.
Research from the Canadian government shows that most people in Canada who seek financial advice receive it for free.
Since there aren’t upfront costs for seeking guidance, it can be a great place to start – especially if you’re trying to stretch your budget further as a newcomer to Canada.
If you’re wondering where people access free advisors – the answer is often through their bank.
For instance, Scotiabank customers can access an advisor1 as often as they need at no cost, but Scotia also offers a no obligations meeting with an advisor to any members of our community who are currently in Canada.
Warm wishes,
The Moving2Canada team, in partnership with Scotiabank
Legal Disclaimer
This article is provided for information purposes only. It is not to be relied upon as investment advice or guarantees about the future, nor should it be considered a recommendation to buy or sell. Information contained in this article, including information relating to interest rates, market conditions, tax rules, and other investment factors are subject to change without notice and The Bank of Nova Scotia is not responsible to update this information. All third party sources are believed to be accurate and reliable as of the date of publication and The Bank of Nova Scotia does not guarantee its accuracy or reliability. Readers should consult their own professional advisor for specific investment and/or tax advice tailored to their needs to ensure that individual circumstances are considered properly and action is taken based on the latest available information.
1While some Scotiabank advisors hold designated credentials or provincial certifications (where applicable), not all advisors are certified financial planners. Titles, credentials, and services vary by advisor role and jurisdiction.
