Scotiabank Senior Financial Advisor Reviews | Glassdoor.ca

Scotiabank Senior Financial Advisor Reviews

Updated 8 January, 2019
26 reviews

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Senior Financial Advisor

3.4
StarStarStarStarStar
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Scotiabank President and CEO Brian J. Porter
Brian J. Porter
17 Ratings

Employee Reviews

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Pros
Cons
  • "no work life balance, doesnt pay well" (in 75 reviews)

  • "high turnover amongst full-time employee" (in 40 reviews)

More Pros and Cons

  1. "Great training program to set you up for success"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Financial Advisor in Halifax, NS
    Current Employee - Senior Financial Advisor in Halifax, NS
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Good base salary and try to place you close to home

    Cons

    Systems could be improved to combine everything in one place


  2. "Always been good"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Financial Advisor in Williams Lake, BC
    Current Employee - Senior Financial Advisor in Williams Lake, BC
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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

    Pros

    Flexible, rewarding, appreciated, moved up quickly, achievements are acknowledged

    Cons

    Behind the times, technology in the stone age,

    Advice to Management

    Be more team oriented in sales approach

  3. Helpful (2)

    "Senior Financial Advisor Level 6"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Financial Advisor in Olds, AB
    Current Employee - Senior Financial Advisor in Olds, AB
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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

    Pros

    Great tools for financial planning and lending, and options for helping customers truly become better off with their finances.

    Cons

    Micro-managed time and excessive volume of calls, meetings, and sales targets. Doesn't seem to care much about the workload of their staff.


  4. "Branch review"

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

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

    Pros

    Opportunity to grow
    Work as a team
    Helping customers

    Cons

    System is down sometimes

    Advice to Management

    Support your team whenn needed. Treat your team with respect.
    More positive attitude and atmosphere.


  5. "Above average"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Financial Advisor in Toronto, ON
    Current Employee - Senior Financial Advisor in Toronto, ON
    Recommends
    Positive Outlook
    Disapproves of CEO

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

    Pros

    The work environment fosters a good team work culture

    Cons

    Long hours and bigger branches are still decorated from the 90s!


  6. "Happy"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Financial Advisor in Sarnia, ON
    Current Employee - Senior Financial Advisor in Sarnia, ON
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    There are sales goals, but they aren't extremely difficult to reach, and customers are assigned directly to you.

    Cons

    Some of the branches are opened on Sat.

    Advice to Management

    someone dedicated to shadow with new hires to learn the system would be greatly appreciated.


  7. Helpful (4)

    "Once upon a time a great company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Financial Advisor in Vancouver, BC
    Current Employee - Senior Financial Advisor in Vancouver, BC
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Good co-workers and a very good product suite

    Cons

    Absolutely terrible corporate culture. The focus is utterly on the numbers with no consideration of the human factor. The bank suddenly removed medical benefits for anyone retiring after 2021 so there's people who have worked there 20-30 years who were counting on that but wont get it. If they have a preexisting condition they're out of lucky competely and even if they don't it's VERY expensive. There's tremendous pressure to hit targets and staff go to grey areas to hit them. if you're politically connected you get off, if not you get let go. Also lots of unpaid overtime.

    Advice to Management

    Realize there's a difference between having integrity and talking about it to protect your reputation.

  8. Helpful (1)

    "Micromangement breaks employees. Good employees leave and new trainees are thrown into the fire"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Financial Advisor
    Current Employee - Senior Financial Advisor
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Benefits and share ownership plan

    Cons

    Micromangement and unrealstic goals grind you down

    Advice to Management

    Listen to employees before all good staff leaves


  9. Helpful (9)

    "Client centric attitudes are not rewarded"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Financial Advisor in Saskatoon, SK
    Current Employee - Senior Financial Advisor in Saskatoon, SK
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Scotiabank full-time (More than 10 years)

    Pros

    Great benefits and pension package, competitive salaries. Leading financial planning software, constant focus on upgrading systems. Plenty of different branches and career paths to choose from.

    Cons

    High level of stress on a day to day basis depending on your immediate team. Not enough hours in a day to action all the activities we are given to complete. Too much focus on "meeting your goals" regardless of your sales volume or customer satisfaction. Unrealistic expectation to meet 125% of all goals as a base expectation.

    Advice to Management

    I have worked for Scotiabank for over 10 years. I have brought forward concerns in our employee surveys and do not feel that there is any motivated change...our goals were altered over the past 2 years to support a more client centred, advice driven approach and get away from selling products. This would lead you to believe that we should be focusing on delivering excellent customer experiences and tailoring our sales conversations to what is best for them, however the amendment to our "Best of the Best" awards ceremonies do not reflect this. The sales officers that achieve the highest SALES volumes are rewarded without any care given to the amount of customer complaints or dissatisfaction with the poor service the advisor gave our clients. I have personally witnessed "leaders" in sales have preferential treatment with high value referrals, see a lack of disciplinary action when complaints are received due to poor service, and a general lack of focus on their service related issues provided the sales volumes keep flowing. As a sales officer, I understand my focus is to sell, however I also have to have the integrity to sell an appropriate product and also SERVICE the client once the sale is complete. I applaud the new NPS system for our clients but this NPS result needs to be tied to our overall rewards system. We do ourselves NO favours by ignoring service issues as we will just lose all the clients out the back door and never get ahead.

    I love what I do and I am very successful. I will not leave Scotiabank for any other financial institution. I believe our products are the best and I believe that I can help our clients become financially better off. I have already referred friends and family to work at Scotiabank, but no longer. I feel less and less satisfaction and pride when I leave at the end of a day. If nothing is done to amend the lack of support for sales staff and the focus on sales instead of overall customer satisfaction, more and more good staff will leave.


  10. Helpful (2)

    "Senior Financial Advisor"

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

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

    Pros

    Multicultural bank, a great place for entry level into banking industry

    Cons

    Internal growth stagnates after a certain degree