New tool now available directly to customers
through mobile and online, supported by expert financial advice
offered in person at a Scotiabank branch or virtually
TORONTO, Feb. 6, 2023
/CNW/ - Scotiabank empowers customers to take more control
over their investments with the launch of Scotia Smart Investor via
Advice+, an all-new platform that aligns solutions to customer
goals by blending AI-powered recommendations and personalized
advice in real-time.
Scotia Smart Investor, launched through Scotiabank's affiliated
mutual fund dealer, Scotia Securities Inc., simplifies and
integrates the investment journey, through an AI-powered advice
engine that helps customers create, plan, monitor, and update their
financial goals, and is available directly to consumers through
mobile and online, supported by expert advice offered in-person at
the branches or virtually.
Scotiabank has been servicing customers using Scotia Smart
Investor since early 2022. Customers now have access to the same
platform through their online and mobile devices. Recommendations
include savings and investments, with product availability spanning
across short-term investing via High Interest Savings Accounts and
GICs, and longer-term investments with mutual funds, all aligned to
the customer's investment objective, time horizon and risk
profile.
Scotia Smart Investor launches at a time when Canadians are
looking for more control over their investments, while still having
access to personalized advice from a trusted Scotiabank advisor.
According to a recent Scotiabank Investor Sentiment Survey, 28% of
Canadian investors manage at least some or all their investments on
their own, while just 5% of investors said that they use automated
online investment services. About 70% of investors use a
financial advisor to help them manage their investments. Scotia
Smart Investor provides flexibility based on each customer's
preferences.i
"Consumers now play a more active role in managing their
finances – especially with the range of online tools available
through Scotiabank's Advice+ Centre," said James Popalis, Vice President of Retail
Performance, Scotiabank. "With the access and insight that comes
from self-directed investing, consumers want to feel empowered and
in control, yet, to invest confidently, the value of professional,
personalized advice has never been more important. Scotia Smart
Investor will help them achieve their financial goals by providing
them with the advice, control, and confidence to invest by
themselves or book an appointment with a licensed advisor."
Scotiabank launches Scotia Smart Investor through an exclusive
partnership with SigFig, a US-based financial technology firm,
allowing Scotiabank to be the first financial institution to offer
Sig Fig's proprietary technology to customers in Canada
"SigFig is proud to bring our digital investing platform to
Scotiabank's customers. It's especially important for those in the
early process of building wealth to have access to the right
financial solutions based on their goals and time horizons," said
Mike Sha, CEO and Co-Founder,
SigFig. "Together we are creating an accessible, flexible and
stress-free planning and advice experience, transforming the way
customers engage with Scotiabank."
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i SOURCE:
Scotia Global Asset Management Investor Sentiment Poll, January
2023.
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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 over $1.3
trillion (as of October 31,
2022), Scotiabank trades on the Toronto Stock Exchange (TSX:
BNS) and New York Stock Exchange (NYSE: BNS). For more information,
please visit http://www.scotiabank.com and follow us on Twitter
@Scotiabank.
About SigFig
Founded in 2007, SigFig is an enterprise financial technology
firm that develops next-generation products for financial
institutions, advisors, and their customers. SigFig creates
solutions for financial services companies to bring them closer to
their customers by seamlessly delivering the right advice and
solutions. Through its partnerships with financial institutions
including Wells Fargo, UBS, and Citizens Financial, their wealth
management tool is available to over 70 million consumers. SigFig
has already helped millions of households gain access to
personalized investment advice designed to help them achieve their
goals. SigFig is backed by top-tier venture capital firms,
including Bain Capital Ventures, Union Square Ventures, DCM, Nyca
Partners, and General Atlantic, and is headquartered in
San Francisco, California. Learn
more at http://www.sigfig.com.
SOURCE Scotiabank