Scotiabank Financial Advisor Reviews | Glassdoor

Scotiabank Financial Advisor Reviews

Updated May 22, 2017
102 reviews

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Financial Advisor

2.6
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Scotiabank President and CEO Brian J. Porter
Brian J. Porter
56 Ratings

Employee Reviews

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Pros
Cons
  • unable to strike a good work life balance (in 47 reviews)

  • No centralized process for Co-op students to apply internally for Full time jobs (in 27 reviews)

More Pros and Cons

  1. Helpful (1)

    "Finacial Advisor"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Ontario, CA
    Current Employee - Financial Advisor in Ontario, CA
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    I have been working at Scotiabank full-time (More than 3 years)

    Pros

    Great people, lots of opportunity for those willing to work. Banking hours are always nice (Although changing for the worse everyday)

    Cons

    Unrealistic expectations, There are metrics for absolutely EVERYTHING and the change from year to year so success one year may not equal success the next.


  2. Helpful (2)

    "Good, steady work. Heavy workload for FAs"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor
    Current Employee - Financial Advisor
    No opinion of CEO

    I have been working at Scotiabank (More than 3 years)

    Pros

    Good benefits, and share ownership program.

    Cons

    Workload, technological infrastructure very dated, slow and frustrating.

    Advice to Management

    Invest in technological infrastructure to bring useful tools, and system stability to branches.


  3. "Challenging position as Home Financing Advisor."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Home Financing Advisor in Toronto, ON (Canada)
    Former Employee - Home Financing Advisor in Toronto, ON (Canada)
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at Scotiabank full-time (More than a year)

    Pros

    Very autonomous position with lots of flexibility. Direct manager involved in resolving issues when occur. Open minded work environment and company culture.

    Cons

    Not enough competitive compared to other major banks in regards to mortgage products offered to clients. Hard to get clients approved for a mortgage due to too restrictive company's guidelines and requirements.

    Advice to Management

    Review range of products offered to clients and the conditions to become eligible to a mortgage.


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  5. "Financial Advisor"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Brampton, ON (Canada)
    Current Employee - Financial Advisor in Brampton, ON (Canada)
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Scotiabank full-time (Less than a year)

    Pros

    Great place to work and a place to learn

    Cons

    no Cons.I don't see any cons.

    Advice to Management

    Great management, supportive.


  6. Helpful (1)

    "Financial Advisor"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Toronto, ON (Canada)
    Current Employee - Financial Advisor in Toronto, ON (Canada)
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at Scotiabank full-time (More than a year)

    Pros

    Great place to learn more about your finances and good position to help others out of tough situations. Staff are really cool to work with and lots of fun. Work can be challenging due to conflicting priorities but always manageable. A great thing is that the bank does not want us pushing product so management cant force it on us.

    Cons

    - Can be boring at time
    - High expectations as you move up
    - Growth potential cap and based on your performance in branch
    - Support Departments make life difficult

    Advice to Management

    Change your old school ways. Your work force is becoming younger and what worked 10 years ago may not apply now. You force of old school ways will increase turnover.


  7. "Financial Advisor"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Toronto, ON (Canada)
    Current Employee - Financial Advisor in Toronto, ON (Canada)
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Scotiabank (More than a year)

    Pros

    Reputed Company andGood Pension benefits

    Cons

    Pressure does not match the compensation with industry standards

    Advice to Management

    Compensation needs to match the pressure


  8. "Advisor"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor/Mutual Funds Representative in Toronto, ON (Canada)
    Current Employee - Financial Advisor/Mutual Funds Representative in Toronto, ON (Canada)

    I have been working at Scotiabank (More than 5 years)

    Pros

    Great culture, and job security

    Cons

    Increased pressure to meet sales and micro-management


  9. "Good Stepping Stone"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Calgary, AB (Canada)
    Current Employee - Financial Advisor in Calgary, AB (Canada)
    Recommends
    Positive Outlook
    Disapproves of CEO

    I have been working at Scotiabank full-time (Less than a year)

    Pros

    Willingness to teach, lots of opportunities for growth, lots of networking opportunities, banking benefits

    Cons

    Pressure to meet sales numbers - especially when employees are still in learning phases and doing courses, sometimes a lack of flexibility due to branch hours. Have to study for and pass your mutual funds exams off office time.

    Advice to Management

    Remember that we are trying to do what's right for our customers and unfortunately that sometimes makes it hard to make sales numbers.


  10. Helpful (5)

    "Gone to Another Company"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Calgary, AB (Canada)
    Current Employee - Financial Advisor in Calgary, AB (Canada)
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Scotiabank full-time (More than 8 years)

    Pros

    Job security for the most part. Job security used to be incredible until new CEO came in. Financial services benefits. Reputable company.

    Cons

    -Work life balance is horrible. Overtime must be approved in advance - so staying to finish up your days work (when your boss has gone home) is unpaid.
    -Numbers are your only performance drivers now so things like volunteer work and going above and beyond don't matter.
    -Performance awards now decided by district level - people who don't even work with you.
    -Career movement potential is limited. Even with excellent performance ratings my biggest raise was $1000.
    -Recognition is nearly non-existent
    -You are expected to fit into a template and do the job that way rather than working with people which is what we do

    Advice to Management

    -Get competitive with pay
    -The company is based out of Toronto, but the rest of us feel invalid
    -Your employees are not machines. We cannot be expected to recite your scripts, your programs, etc. People do not perform this way.
    -Developing a new overtime outlook will prevent the company from being sued again.


  11. "culture"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor Level V in Ottawa, ON (Canada)
    Current Employee - Financial Advisor Level V in Ottawa, ON (Canada)
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    great culture and I love that youre not just a number

    Cons

    tough sales target, and you have to be very proactive

    Advice to Management

    decrease paperwork