Since the acquisition of MD Financial Management by Scotiabank was announced, we’ve spoken with and, more importantly, listened to PTMA members across the country—including members of the Alberta Medical Association. We’ve heard optimism—and concern. Will MD still be for physicians? Will we still put your interests and needs above everything else? Our unequivocal answer is: Yes.

In fact, we’ve made four specific commitments that you can hold us to:

1) The same objective, expert and physician-centred advice you’ve always trusted

    • Our Advisors are not required or incentivized to sell any specific investment products—including Scotiabank’s—that they don’t truly believe are best suited to meet your financial requirements. We’ll continue to put your needs first and foremost—always.
    • Our Advisors—the people who know and understand physicians’ finances best—remain dedicated to MD, and our staff turnover rate remains far below the industry average.1
    • Scotia is a world-class organization with scale, resources and capital that we never had. With Scotiabank behind us, we can benefit from their tools, technologies and strategic partnerships—provide an enhanced experience to our clients and make it easier for you to do business with your Advisor.

2) The same fees—or lower

    • Our fees, which have not changed since the acquisition, are some of the lowest in Canada and continue to be among the most competitive on the market. Our MERs are, on average, 29% lower than others in the industry.2 Scotiabank has committed to keeping our fees the same—or even decreasing them.
    • As the worldand financial services in particularbecomes more complex, businesses like ours are under increasing pressure to keep up. We have always vowed to manage your investments conservatively and to avoid unnecessary risk; Scotia will help us continue to meet those obligations as regulatory requirements continue to evolve

3) The same strong physician voice

    • We fully understand that physicians provide an invaluable perspective that strengthens who we are and what we do. That’s why we’ll continue to actively seek your input and feedback through multiple channels, including a physician advisory council.

4) Broader and more innovative choices

    • We can now complement our existing products and services with the robust suite of category leading banking products and services2 delivered by Scotiabank—if and when you need them—including a registered disability savings plan (RDSP); lines of credit with preferred interest rates; medical student and resident lines of credit; Private Banking; credit cards; and special mortgage rates.


The job ahead of us is clear: to prove these words with action. You are a part of our DNA. And for as long as we have the honour of serving you, that will never change. We remain invested in physicians.