Online OK for health info but brokers win for mortgage advice

Financial tech is growing in popularity but when it comes to mortgage advice a traditional approach wins hands down. A new poll by Scotiabank found that most Canadians seek out information online such as recipes (79 per cent) and medical advice (75 per cent) online but fewer (32 per cent) trust the internet with their finances.

While having a great website can help attract clients, when it comes to mortgage advice 70 per cent of respondents said they would talk to an advisor. That beats financial websites (41 per cent), parents/family (36 per cent) and real estate agents (25 per cent).

Almost half said the glut of information online puts them off and although 89 per cent feel it is easier to find information they need online rather than seek it out from other sources, an overwhelming 73 per cent say even though the information is helpful they will still always seek advice from an expert.

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