CBA - Resource Centre - Information Booklets - Your Guide to Financial Services

Introduction

Here's an up-to-date guide for financial consumers that simplifies the many offerings in today's marketplace.

You'd be hard pressed to find an industry that has undergone as much change in the past decade as financial services. From automated banking machines, debit cards and telephone and Internet banking, to new investment and insurance options, to legislation that has allowed financial institutions to offer a whole new range of products and services - our industry is on the move.

Sometimes moving this quickly presents a challenge when it comes to keeping our customers informed. We know that ther's no shortage of material on individual products and services. But there hasn't been a comprehensive, up-to-date guide for financial consumers that simplifies the many offerings in today's marketplace.

The Canadian Bankers Association hopes to bring it all together by publishing Your Guide to Financial Services. First we look at the many players offering financial services. Then we provide a snapshot of commonly used products and services, along with a few that may be a bit more obscure. Keep in mind that all players have different products and services, so you'll need to check out which companies offer what.

Banking will continue to evolve in response to shifting customer demographics and preferences, changes in the regulatory environment, global financial markets and technological innovations. Financial institutions are responding to these changes in a variety of ways. Some are forming strategic alliances and joint ventures, making acquisitions or restructuring their lines of business. Others are expanding their choice of offerings or are entering new areas. Some institutions are positioning themselves as specialized service providers in niche markets.

To help you target the areas you find most valuable, we have organized the services into five categories:

Day-to-day banking;
Credit;
Insurance;
Investments;
Wealth management, retirement and estate planning.

This booklet was designed with you, the Canadian consumer in mind, and we hope it finds a place on your shelf as a handy reference guide. If you're in the market to buy a financial product or service, remember that there is plenty of choice and the market is highly competitive, so shop around. It will be to your advantage.

Published by the
Canadian Bankers Association

This booklet gives information of a general nature and is not intended to be relied on by readers as advice in any particular matter. Readers should consult their own advisors on how this information may apply to their own circumstances.