Scotiabank Employee Reviews for Financial Advisor

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Financial Advisor
Financial Advisor (Former Employee) –  Kamloops, BC7 May 2018
Working for Scotiabank as a financial advisor has its pros and cons. Overall the company seems to care for its employees and wants to advance the ones they feel should be placed in jobs that suit their abilities. Management can be difficult and there are politics in the branch. However, you will get that in basically any job you work at so have to weigh out the pros with the cons in that regard. It really depends on the branch and your manager as to whether or not you will enjoy your time working there.
Pros
great work/life balance
Cons
management can be horrible
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opportunity to advance if you were well liked
Financial Advisor (Former Employee) –  Ontario28 April 2018
After 16 years and many different positions with the bank I believe that the recent changes and restructuring were the demise in the branch environment. The staff turnover rate is ridiculous and many experienced people are either taking early retirement or are leaving for higher compensating positions at credit unions.

The people you work with really do make or break where you work. For the most part I was lucky enough to work with some amazingly positive and helpful people. The management however needed a lesson in reality. When it comes to goals, pressure tactics only make people jump ship...not work harder. If you are ever concerned about a detail with your banking NEVER ask for a manager. They know about 10% of what the rest of the employees know. Instead, ask for an employee that has been at that particular location or even with the company for more than 10 years. You will be much happier with the outcome and will not be treated like a number.
Pros
great way to get experience
Cons
lots of nepotism when it comes to promotions
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Fun place to work
Financial Advisor (Former Employee) –  Vancouver, BC19 April 2018
Scotiabank provides employees with many opportunities to be engaged with each other as teammates, as well amazing efforts that reach out to the community, as in this way we get to create deeper bonds with clients and teammates
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Ok
Financial Advisor 5 (Former Employee) –  Edmonton, AB9 April 2018
Ok place to work, but definitely better if you have a God Father. Systems are not user friendly, no time to learn all that you need to do the job and do the job itself.
Pros
Good offices
Cons
hectic
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the worst job ever!!!
Financial Advisor trainee (Former Employee) –  Waterloo, ON3 April 2018
The new excellence program it is a joke, over the phone ones a week without any proper coaching or job shadowing; for so many weeks I didn't had a chance to job shadow and after 90 days you were given targets while still in training. btw these goals were totally unrealistic!!
Everything is about numbers and majority of the advisors are stressed out.
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Fast paced, client driven environment
Financial Advisor (Current Employee) –  Ottawa30 March 2018
Career advancement is easily attainable if you are open to new systems, products and continuous education. BNS offers plenty of additional courses and training to help you suceed in the financial world.
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Worst Job I've Ever Had
Financial Advisor (Former Employee) –  Calgary, AB13 March 2018
Not really sure where to start, but I know this is the worst job I have ever had in my life.

The management is horrendous.
They do not teach or show you how to do things due to their time constraints, and then rip on you for doing it wrong or not doing it. This is after bothering them time and time again to help you, but they always seem to be too busy, until its time to power trip and give you a lecture.

Management doesn't seem to move up through positive work and challenging themselves and others to make the workplace better, but through sucking up to whomever is above them in the chain.

Upper management waltz's in acting like someone they're not. Generally trying to act like some sort of "alpha male" in a fancy looking suit, even though these suits that boost their confidence are no more than average church goers suit, LOL.

Cutbacks also destroyed morale in the culture. Employee's there for their entire lives that everyone took a liking to were given a package and told to get out as their job would be centralized. Only causing chaos and non competent employees would take on these additional tasks so corporate could save money on the more expensive long time employees.

Inter-company communications are also horrible. If you ever need anything or have questions above your branch you will be passed around dozens of different departments all the while waiting on hold for a minimum of 30 minutes each transfer.

They give you a contract with your set hours, and I definitely intended to do well and work above those hours. The ridiculous part is that you're
  more... ridiculed if you don't spend way more than your set hours.

You will also receive quota's in certain positions, however they will change the rules halfway through the game if they don't like you, while cutting down other well liked employees tasks because they feel bad for them.

Ethics seem to be a massive problem in this place with some managers. They don't think when they make decisions that could lead to huge labour board disputes.

Competence among management is easily the biggest problem with this company, I would suggest reviewing how promotions are taken into account. The people who lead best are those who don't suck up and go against what they believe just in hopes to move up, but challenge others opinions and themselves in order to make the bank a better place for everyone around them.

People starting out in FA positions overwork themselves to the point of exhaustion and divorces, all for what ? A measly 40k ? Hopes of one day make sub 70 as a manager?

Think deeply about this and other reviews before you join this "team".

I'd suggest working with some sort of Coop or credit union, I have been much happier since switching to this type of business.
  less
Cons
Pay, unrealistic expectations, management, benefits
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Stressful environement
Financial Advisor (Former Employee) –  Edmonton, AB23 February 2018
At first this was a great place to work. But got moved around a lot between branches, with very little notice. High sales goals and pressures. Work place culture became more negative the longer I stayed, seemed like everyone was searching for a way out. Lots of micromanaging and lack of confidence in employees, felt very disposable as an employee. Work environment varied largely between branches and strongly reflected on managements goals and attitude. Extremely high turnover.
Pros
Bonus opportunities, high opportunity for advancement
Cons
Stressful, low salary, micromanagement, extensive training
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Scotiabank
Financial Advisor (Current Employee) –  Victoria, BC27 January 2018
Micro Management to say the least. So many metrics to meet, and it is clear they put that out there, to make sure you do not make your goals. To ensure they do not have to pay any bonuses.
Pros
Advance quickly, because so many people quit
Cons
Under staffed but goals remain the same
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WAS a place to work
Financial Advisor (Current Employee) –  Guelph, ON15 January 2018
As a Financial Advisor its all about the sales. Our Today Show every morning is all about Micromanaging every last minute of your day. Support unit have been cut and consolidated, takes weeks to get a response and usually nothing useful. It was a good place to work up to 2015.
Pros
Free Banking
Cons
Micromanagement, Aggressive sales Targets, Salary is below industry average
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Racism got me fired from work
Financial Advisor (Former Employee) –  Blairmore saskatoon14 January 2018
I got hired after months of interview process and since day one at the work no training nothing got provided and wnats to perform well. Women domination at work and being outsider placed me distance form anything but just making calls all the time, finally gave me a paper says you are terminated.
Worst training ever, worst people to work with management was never supportive
Good luck
Pros
Nothing
Cons
Nothing
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A Good First Step
Financial Advisor (Current Employee) –  Waterloo, ON5 January 2018
Scotiabank as a whole is a good place to work. Like all others, it has it's drawbacks. The greatest benefit though, is the amount of knowledge you can aquire in a short period of time. From investing, to lending, to estate, to general personal banking, it acts as a great stepping stone.
Pros
Good place to learn
Cons
Mediocre pay, high stress/pressure, little incentive.
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a great bank to work for
Financial Advisor (Former Employee) –  Toronto, ON14 December 2017
- a great internal system to work with

- great banking products

- a good work and life balance

- a very successful bank in eliminating the paperwork
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Good team environment
Financial Advisor (Former Employee) –  Toronto, ON10 December 2017
Very positive workplace culture amongst peers. Very supportive of employees in regards to rewards for performance ie. Scotia Best of the Best awards. Great Learning experience.
Pros
Good team building activities.
Cons
Inconsistent Training
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Unrealistic expectations, product driven
Financial Advisor (Former Employee) –  Grande Prairie, AB7 December 2017
Decent salary. High paperwork, compliance and sales targets. Be aware that focus has shifted from customer planning to product driven sales in recent years. Any financial advisor working at a bank is looking for aggressive product sales, free advice is how you push your products. My experience near the end was 45min long meetings every morning were the person with the worst sales was questioned in front of their coworkers. No support from management and credit and lending manuals that were out of date compared to changing procedures.
Pros
decent benefits
Cons
lending guidelines not updated to allow smooth credit workflow
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Sales Targets
Financial Advisor (Former Employee) –  Burnaby, BC17 November 2017
Sales targets for Financial advisors are really aggressive and not achievable. Lots of work pressure and micro management. Work/Life balance is awful.
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Too much pressure on sales
Financial Advisor (Current Employee) –  Toronto, ON14 November 2017
Just like any other Financial Advisor/ personal banking officer position at a bank there is too much pressure on sales. It's a good job to get in the bank, but do not be hopeful that this positon will help you transition into a corporate role.
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Sucked the soul out of me
Financial Advisor (Former Employee) –  Ontario29 October 2017
8 years of commitment, overtime, selling the brand to family, friends and all I came across, number one ranking in sales and revenue in my district and dismissed without an explanation. Beyond that, they messed up my ROE and a manager who didn't like me sent in my termination report to the MFDA with misconduct (untrue and slander), which has prevented me from obtaining work in the field again to date.
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Fun place to work
Financial Advisor (Former Employee) –  Regina, SK23 October 2017
Workplace culture is awesome. I learned how to sell the product to the customer by looking at their earnings. I personally did not get along with the Branch Manager as i feel he was biased towards me and few others at the branch.
Pros
Weekend off
Cons
Management
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Professional
Financial Advisor (Former Employee) –  NB6 October 2017
Standard work hours, but not easily flexible for appointments or family responsibilities. Although they have programs in place for employees, its very hard in smaller branches to have these approved due to limited employees in branch.
Pros
Benefits
Cons
Numerous Goals, Limited Flexibility in work hours
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Overall rating

4.0
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