In this episode Rob McGavin, the Managing Director at Scotiatrust, gives us a primer on wills. We’ll cover the basics from exactly what a will is, why you need one and where to get it. Also, we’ll go a little deeper and explore what roles you might need to assign and who can best fill them, how often to update a will, how to avoid common family conflicts and more. 

Estate planning is a very personal and complex area, with many nuances and provincial differences. This podcast is intended to address/cover high level matters, not present a comprehensive overview. Everyone’s situation is unique, so it’s important to engage your personal advisors to ensure that all aspects have been fully canvassed before making or changing any part of your estate plan. 

For more on estate planning, check out our previous episode with Rob McGavin: So, what exactly is a power of attorney? 

For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures 

Key moments this episode: 

1:42 – Starting with some definitions – what is a will? 

2:09 – What is a power of attorney? 

3:22 – Why would someone need a will? 

4:06 – How many Canadians have a will? 

4:54 – When should people think about getting a will? 

6:17 – Common reasons why people don’t get a will 

7:31 – What are the roles that need to be assigned when making a will? 

9:21 – What exactly is an executor and what do they do? 

10:55 – How to choose an executor 

12:17 – What about hiring a trustee?  

13:48 – Other roles that need to be appointed when it comes to a will 

15:29 – Why making your wishes clear in a will is important 

19:40 – Why you shouldn't assume that when you die your money will go to your spouse automatically 

20:53 – Where should someone start when it comes to making a will? 

22:22 – How often should you update a will? 

23:40 – Why a will is just one part of estate planning  

25:10 – Breaking down how taxes work when it comes to estates 

27:00 – Why communication is key when it comes to estate planning 

28:01 – What is the Code of Conduct for the Delivery of 

Banking Services to Seniors? 

29:10 – The key takeaway when it comes to wills and estate planning 

In this episode, we dive into a recent Scotiabank report that unpacks how artificial intelligence might affect markets and the economy. Co-authors Rebekah Young, Vice President and Head of Inclusion and Resilience Economics at Scotiabank, and Walid Khalid, the Director of Investment Strategy at Scotia Wealth Management, walk us through the impact AI might have on jobs and productivity, whether there’s an ‘AI bubble,’ how investors should get their head around all of this and more. 

For more, read the highlights of the report or the full report here: Macro, Markets, and Machines: The Economic and Market Transformation Driven by AI 

For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures 

Key moments this episode: 

1:34 – Rebekah summarizes what her and her co-authors were trying to accomplish with this recent paper 

3:42 – How Walid looked at AI using an investing lens  

7:01 – How does the emergence and rapid development of AI technology compare to previous technological revolutions? 

8:41 – Is AI technology already helping productivity?  

13:55 – What about the concern around AI replacing jobs? Is there any merit to that? 

17:32 – What are the economic impacts that are already being felt from the increased adoption of AI? 

21:09 – Some numbers around the potential impact AI may have on productivity 

22:50 – Are we in an ‘AI bubble’? How does this compare with the ‘dot-com bubble’?  

30:39 – Summarizing the key takeaways from the report 

Prime Minister Mark Carney’s Liberal government has tabled its first budget with major spending aimed at driving economic growth and boosting Canada’s competitiveness but also cuts to various programs.  

Rebekah Young, Scotiabank’s Head of Inclusion and Resilience Economics, joins us to break down the key takeaways from the federal government's spending plan, what caught her eye, and what it means for Canada’s economy going forward.  

Read Rebekah’s full report on the 2025 federal budget - Balancing Boldness: Canada Tables Its Investment and Austerity Budget 

For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures 

Key moments this episode: 

1:01 - What is the headline for the federal budget? 

1:22 - What does this mean for the average Canadian – are they better off (or not) with the measures in this budget? 

3:00 - Rebekah breaks down some of the big-ticket items in the federal government’s $89.7 billion in new spending, and whether these investments will spur economic growth 

8:14 - Rebekah weighs in on whether the government’s expectation that the budget will unlock $1 trillion in investment in the Canadian economy is doable 

11:11 - What major spending cuts are in this budget? 

13:14 - Is the federal budget’s $78-billion deficit concerning or reasonable given the challenging circumstances? 

16:10 - Rebekah on whether the government’s spending plan is a step in the right direction 

17:32 - The three biggest takeaways from the federal budget for Canadians 

The Bank of Canada has lowered its key policy interest rate for a second consecutive time by 25 basis points to 2.25% amid ongoing weakness in the economy and as inflation pressures ease.  

Governor Tiff Macklem said the current policy rate is “at about the right level” to keep inflation in check near 2% while helping the economy through this period of “structural adjustment.” 

Scotiabank’s Chief Economist Jean-François Perrault returns to the podcast to break down this decision and what it says about the economy, as well as provide a preview of the upcoming federal budget and explain how it factors into the rate announcement, and much more. 

To learn more about the upcoming federal budget and what to look for, read Scotiabank Economics’ report: The Cost of Ambition: Anticipating Canada’s Federal Investment and Austerity Budget. 

For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures 

Key moments this episode: 

00:52 - JF’s main takeaway from the Bank of Canada’s decision to cut its key policy rate for a second time 

02:32 - What drove the central bank’s decision to cut? 

04:01 - The upcoming federal budget and how it factors into the Bank of Canada’s rate decisions 

5:51 - What to expect and look for in the upcoming federal budget announcement in November 

7:06 - What does this cut and the overall outlook mean for Canadians?  

9:00 - What does this cut, and the central bank’s message that it will be the last cut for a while, mean for those wanting to buy a home? What does this mean for the Canadian housing market? 

10:30 - Governor Tiff Macklem said that the weakness in the Canadian economy is “more than a cyclical downturn. It is also a structural transition.” JF breaks down what this means.

14:05 - JF on where the economy goes from here 

16:03 JF on the main takeaways from the Bank of Canada’s decision for Canadians 

In partnership with the Scotiabank Women Initiative, business journalist Amber Kanwar, host of the In the Money with Amber Kanwar podcast, is our guest to talk about women’s relationship with money, how motherhood affects that, her personal journey from TV host to being her own boss and what she’s learned about investing and finance along the way. 
 
There is a lot to consider when planning for your future. Discover Scotia Wealth Management’s Total Wealth Planning process and how it can benefit you. Learn more at https://www.scotiawealthmanagement.com/ca/en/about-us.html 

For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures 

Key moments this episode: 

2:01 – Amber walks us through the decision to focus as a reporter on money and business journalism 

3:16 – What it was like learning the ropes in a largely male-dominated industry 

5:56 – How women tend to approach investing differently and why 

11:00 – The generational difference on how women approach money 

13:49 – Amber's biggest tip for women who are interested in starting to invest 

15:28 – What Amber's learned from the latest chapter in her career: leaving TV and starting her own podcast 

Sustainability has long been part of agriculture, by necessity and design, but what does it mean for today's modern growers? For Dr. Sally Flis, the Director of Sustainable Ag Programs at Nutrien Ag Solutions, sustainable practices can help producers be more resilient in the face of global economic uncertainty. Sally is our guest along with Janice Holzscherer, the Managing Director and Head of Agricultural Banking at Scotiabank. They’ll explore what sustainability means when it comes to agriculture, how it plays an important role in the story that modern farmers and growers tell the public and more. 

For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures 

Key moments this episode: 

1:13 – Sally tells us about Nutrien Ag Solutions 

3:06 – Some context around Scotiabank’s partnership with Nutrien 

5:22 – What Sally mean by “cutting through the noise of sustainability” in agriculture 

9:46 – How has the notion of sustainability evolved over the last few decades? 

12:19 – What about the consumer side? Is there added pressure on growers and producers to adopt more sustainable practices?  

14:13 – What is the story growers want to tell the public when it comes to sustainability?  

16:37 – Final thoughts on the state of sustainability and where it’s heading in agriculture 

From the impact of the pandemic to AI, security to quantum computing, this episode two industry veterans will walk us through the state of technology in banking. Inci Akpinar, Senior Vice President & Chief Information Officer for Canadian Banking Engineering at Scotiabank, and Sebastian Blandizzi, the Senior Vice President & Chief Information Officer for Data & Global Wealth Technology at Scotiabank, explore how far the field has come, where it might be going and what challenges and opportunities lie ahead. 

For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures 

Key moments this episode: 

2:17 – Inci and Sebastian look back on technology in banking when they started their careers vs where it is now 

7:27 – What pressures does a bank face when it comes to the evolution of technology? 

10:50 – What are the next big challenges and opportunities on the horizon? 

12:53 – What keeps Sebastian up at night and why that’s recently changed 

16:47 – How AI has changed how Inci and Sebastian look at their work and what clients expect 

22:50 – What is banking technology going to look like in the next ten years?

Just over a decade ago, the Truth and Reconciliation Commission (TRC) released its Final Report into Canada’s Residential School System, including its 94 Calls to Action and 10 Principles of Reconciliation. This episode we’ll hear about the legacy of the TRC 10 years later with one of the three commissioners, Marie Wilson. She’ll tell Myan Marcen-Gaudaur, Scotiabank’s Director of Indigenous Relations and Reconciliation, about her time as a commissioner, the state of reconciliation over the past 10 years, the progress on the 94 Calls to Action and more. 

For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures 

Key moments this episode: 

3:05 – Marie describes the work she did with the TRC and explains why 10 years later many might be unaware 

10:09 – The importance of starting with the ‘why’ when it comes to reconciliation 

13:57 – What did Marie see as the potential for her work 10 years ago? 

18:17 – How much progress has Marie seen in the last 10 years? 

27:48 – Where the title of Marie’s book, North of Nowhere: Song of a Truth and Reconciliation Commissioner came from 

29:55 – Where the inspiration for writing a book came from 

32:27 – What role Marie sees her book playing in Canada’s collective commitment to reconciliation  

38:47 – What advice Marie would give to Scotiabank as they continue on the path of reconciliation 

In this episode, we have two experts to break down the latest scams and tell us how to avoid falling victim. From bank impersonation scams to AI and even old-fashioned door-to-door grifts, Detective Constable Valerie Dahan from Toronto Police Service and Aaron McAllister, Vice President of Fraud Threat Management at Scotiabank, run down the red flags and what to do if you suspect you, a loved one or a neighbour might be a victim.

For more fraud prevention resources, check out Scotiabank’s Cybersecurity and Fraud Hub. 

For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures 

Key moments this episode: 

2:02 – Val tells us about her role at Toronto Police Services and an overview of the scams landscape right now 

3:23 – Aaron gives us his overall take on the current state of scams 

4:11 – Broader context about scams and how they are often perpetrated by overseas victims of human trafficking  

8:07 – A deeper dive into specific scams starting with impersonation scams, specifically bank impersonation scams 

13:24 – Val breaks down romance scams and the psychology behind them that makes them so potent 

20:07 – What are home improvement scams and what should people look out for? 

22:26 – Are seniors targeted more often with scams? 

23:13 – Some final tips on how people can protect themselves 

Some welcome relief has come for consumers and businesses as the Bank of Canada has decided to lower its key policy rate by 25 basis points to 2.5%, marking the first cut since March.  

Scotiabank’s Chief Economist Jean-François Perrault is back to explain what drove the central bank’s decision, what it says about the state of the economy, why we “aren’t out of the woods” yet on inflation, the odds of another cut this year, and much more. 

For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures 

Key moments this episode: 

00:53 - JF’s main takeaway from the Bank of Canada’s decision to cut its key policy rate 

1:53 - What does this say about the state of the economy? 

2:28 - How much of an impact does a cut of 25 basis points have on the economy? (And why another cut is likely) 

5:08 - With counter-tariffs on the U.S. largely eliminated, what is driving inflation in Canada now? What is keeping inflation higher than hoped? 

7:39 - What does JF see for the economy ahead, given all the uncertainties? 

9:14 - With a federal budget to be announced in November, what could this influx of government spending mean for the economy and inflation? 

12:33 - How will this 25 basis point cut impact households, individuals, and businesses? And why mortgage borrowers are most likely to feel the impact 

14:14 - Will lowering interest rates and making it easier for consumers to buy a house drive up prices and inflation? 

15:16 - Why JF expects the Bank of Canada to cut again before the end of the year – but then possibly start to reverse them next year 

16:26 - JF’s main takeaways for Canadians from the central bank’s announcement