Scotiabank launches Sleep Advisor tools, helping put Canadians’ financial and investment worries to bed

TORONTO, January 17, 2022 /CNW/ – Scotiabank introduces Sleep Advisor by Scotia Advice+ – A range of investment tools, including a Sleep Advisor hotline and an online Sleep Advisor Hub at the Advice+ Centre, designed to take the worry out of investing and help Canadians sleep better. The new tools come in time to combat Blue Monday, which for many marks the low point of the year and when financial stress causes more sleepless nights.

Scotiabank Logo (CNW Group/Scotiabank)

Scotiabank Logo (CNW Group/Scotiabank)

A New Scotia Bank worry survey found that 3 in 4 Canadians (75%) spend an average of 10 hours a week worrying about their finances. The results also showed that this particularly affects younger Canadians, aged 18-34, who worry an average of 12 hours a week, compared to those over 55, who worry just 6 hours a week.

“We’ve all been there – it is 2 a.m and you stare at the ceiling and wonder if you are investing enough for your future. Knowing that Canadians, and younger Canadians in particular, are losing sleep over their investments is worrying and that’s why we developed the Scotiabank Sleep Advisor tools to give Canadians peace of mind knowing Scotia Advisors have their back “, he said D’Arcy McDonald, Senior Vice President, Payments and Unsecured Lending at Scotiabank. “We know that when Canadians work with an advisor, they don’t have to worry as much about their finances. Even this initial consultation can be essential to help them sleep worry-free.”

Scotiabank Advice+’s new Sleep Advisor tools include:

  • sleep hotline: Canadians shouldn’t lose sleep over their investments, so we created the 1-833-SLE-EEEP hotline to give them financial peace of mind and help them sleep better. During the day they can call for banking advice over the phone or make an appointment with a Scotia advisor for a tailored Advice+ plan. The hotline is also filled with some surprises to make the experience less stressful, including unique day and night meditations. In the evenings, clients can make an appointment for counseling or to listen to a guided meditation if they really need something to ease their financial worries and help them sleep.

  • Sleep Advisor Hub: Whether it’s a question about RRSPs, TFSAs, Mutual Funds, GICs, or any other investment option, Canadians can browse the updated Advice+ Center on Scotiabank.com, where the articles and FAQs have been reorganized based on a client’s life stage that are relevant for you to find the most relevant investment advice more easily.

A recent survey conducted by Scotiabank found that a majority of Canadians said they had basic or average investment skills (64%) and just over half (56%) can tell the difference between a Registered Savings Plan (RSP) and Confidently Explaining a Tax-Exempt Savings Account (TFSA) to their friends.

Regional residents of alberta (21%) rate their investment skills as more exceptional or competent than residents of Quebec (9%) and the Atlantic provinces (6%).

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

36% of Canadians said they are currently reluctant to invest due to rising cases of Omicron variants.

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

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

  1. Started – Simple step-by-step guides on financial planning, investing, budgeting and more

  2. planning for life – Find the right financial advice for what’s happening in your life today, such as: B. Retire, become a parent or start a business

  3. banks 101 – Learn about common banking tasks and products from Scotia’s finance experts

methodology

These results come from two recent national polls conducted by Maru Public Opinion – one of 1,510 (12-13 October 2021) and the other of 1,513 (January 7, 2022) randomly selected Canadian adults. The results were weighted by education, age, gender and region (and in Quebec, language) according to census data. Discrepancies in or between totals are due to rounding. For detailed results, see Canadian Public Opinion Polls | Maru group

About Scotia Bank
Scotiabank is a leading bank in America. Guided by our purpose: “for every future”, we help our clients, their families and their communities to thrive through a wide range of advice, products and services, including personal and corporate banking, wealth management and private banking, business and investments be banks and capital markets. With a team of around 90,000 employees and assets of approx $1.2 trillion (away October 31, 2021), Scotiabank is traded 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.

SOURCE Scotiabank

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