Mr. James Popalis reports

SCOTIABANK EMPOWERS CUSTOMERS TO TAKE CONTROL OF THEIR INVESTMENTS WITH THE LAUNCH OF SCOTIA SMART INVESTOR

Bank of Nova Scotia is empowering 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 artificial-intelligence-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 on-line, 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 on-line and mobile devices. Recommendations include savings and investments, with product availability spanning across short-term investing via high-interest savings accounts and guaranteed investment certificates, and longer-term investments with mutual funds, all aligned with a 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 adviser. According to a recent Scotiabank investor sentiment survey, 28 per cent of Canadian investors manage at least some or all their investments on their own, while just 5 per cent of investors said that they use automated on-line investment services. About 70 per cent of investors use a financial adviser to help them manage their investments. Scotia Smart Investor provides flexibility based on each customer's preferences.

"Consumers now play a more-active role in managing their finances -- especially with the range of on-line 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 adviser."

Scotiabank launches Scotia Smart Investor through an exclusive partnership with SigFig, a United States-based financial technology firm, allowing Scotiabank to be the first financial institution to offer SigFig'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, chief executive officer 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."

About Bank of Nova Scotia

Scotiabank is a leading bank in the Americas. Scotiabank helps its 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. Scotiabank has a team of over 90,000 employees and assets of approximately $1.3-trillion (as at Oct. 31, 2022).