SOURCE: Scotiabank

Scotiabank

March 21, 2016 11:47 ET

96% of Canadians Turn to the Internet for Information and Answers

But 3/4 Say They Will Still Always Seek Personalized Advice From an Expert

TORONTO, ON --(Marketwired - March 21, 2016) - A recent Scotiabank poll revealed that 89% of Canadians feel it is easier to find the information they need on the Internet rather than seek it out from other sources. But the same poll showed that 77% of Canadians do not always have confidence in the information the Internet search provides.

Scotiabank's Spring Lending campaign uses a depiction of Internet searches about mortgages to highlight the overwhelming amount of information Canadians find online compared to the tailored advice of a Scotiabank advisor to ensure customers get the mortgage that's right for them. To see more, visit www.scotiabank.com/homeownership

"Just like with medical advice, there is no one size fits all solution when it comes to a financial plan. While the Internet is an excellent place to begin to gather information, we encourage all Canadians to meet with an advisor to map out their own unique financial path," said David Stafford, Managing Director of Real Estate Secured Lending at Scotiabank. "This is especially important when it comes to major financial decisions and purchases like buying your first home."

Additional poll results include:

  • The majority of Canadians say they use the Internet to search for the following information:
    • Recipes (79%)
    • Medical information/advice (75%)
    • Gift/Entertaining ideas (62%)
    • How to videos/blogs (62%)
    • Financial advice (32%)
  • While close to 90% of respondents say they only use reputable sites when searching for information on the Internet (89%) and have no trouble finding helpful information online (88%), almost half (49%) feel overwhelmed by the amount of information available on the Internet.
  • When looking for mortgage advice Canadians turn to:
    • An advisor (70%)
    • Financial websites (41%) 
    • Parents/family (36%)
    • Peers/friends (30%)
    • The Internet (28%)
    • Real estate agent (25%)
  • 89% of Canadians feel it is easier to find information they need online rather than seek it out from other sources, but an overwhelming percentage (73%) say even though the information is helpful they will still always seek advice from an expert.

About the Survey:
The Scotiabank Poll was conducted by Global Brand & Customer Insights at Scotiabank. A total of 1,505 online interviews were conducted nationally with Canadians 18+. The research study was conducted from February 10 to 11, 2016.

About Scotiabank:
Scotiabank is Canada's international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 23 million customers become better off 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 more than 89,000 employees and assets of $920 billion (as at January 31, 2016), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). Scotiabank distributes the Bank's media releases using Marketwired. For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankNews and @Scotiabank.

Contact Information

  • For media enquiries only:
    Allison Watkin 
    Public, Corporate and Government Affairs
    Scotiabank
    T: 416.866.5657
    M: 647.926.7847
    E: allison.watkin@scotiabank.com