Bank of Nova Scotia has partnered with financial expert and author Gordon Pape to help Canadians better understand and maximize benefits of the new Tax Free Savings Account, the bank announced on Tuesday.

Scotiabank is creating an informational video for clients and will make available copies of Pape’s latest book: Tax-Free Savings Accounts: A Guide to TFSAs and How They Can Make You Rich.

“We have seen that Canadians are excited about the TFSA and have been very proactive in seeking more information. Canadians have had many questions on how to incorporate this account into their overall financial portfolio to maximize their benefits,” said Barb Mason, exec. vp of wealth management at Scotiabank.

Pape’s book offers a detailed explanation of the savings instrument and various options on how Canadians can add tax-free dollars to their portfolio.

“I believe the Tax-Free Savings Account is the most powerful investment option since the introduction of RRSPs more than 50 years ago,” said Pape. “I believe every Canadian should have a TFSA and I am delighted to be working with Scotiabank to help people understand how they can use these accounts to their best advantage.”

Scotiabank will also host an information session with Pape on Wednesday, Jan. 21 in Toronto to discuss the features and benefits of the TFSA and how investors can take advantage of this new investment tool.

IE