Financial confidence isn’t just about money—it’s about belonging

A new TD Bank study reveals that 76% of newcomers to Canada are concerned about making a financial mistake, significantly higher than the rest of the population. Nearly half say they don’t completely understand Canada’s banking or investing scene.

But TD isn’t alone in spotlighting this issue:

• The Financial Consumer Agency of Canada has long emphasized that literacy is about more than knowledge—it’s about confidence, behaviours, and access at the right moments.

• Securian Canada’s survey found 54% of newcomers cite financial stress as their #1 well-being challenge, with the most significant gaps around insurance and long-term planning.

• Prosper Canada reports up to 65% of newcomers experience periods of low income in their first decade—a systemic challenge, not just a short-term adjustment.

At TerraNova360, we see this as a cultural inclusion challenge as much as a financial one.Newcomers aren’t just looking for products—they’re looking for trust, plain language guidance, and services that meet them where they are (linguistically, culturally, and emotionally).

When financial institutions, governments, and employers fail to develop culturally attuned solutions, the cost isn’t just personal stress; it’s also lost entrepreneurial energy, reduced consumer engagement, and delayed economic contribution.

Our POV:Inclusive strategies aren’t optional—they’re economic multipliers. Programs, campaigns, and services must reflect the diversity of the marketplace, or they risk leaving millions of Canadians behind.

💡 How can brands shift from “selling products” to “building trust” with diverse consumers?

In my work, I’ve seen this gap play out again and again, with talented newcomers eager to contribute but feeling shut out by systems not designed with them in mind. It’s why, at TerraNova360, we encourage our clients to think beyond transactions and start building genuine cultural connections. That’s where growth and inclusion truly begin.