BMO InvestorLine Expands Access to Direct Advice to More Canadians

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  • Lower minimum balance and changes to advisory fee structure expand accessibility of adviceDirect

TORONTO, October 6, 2021 / CNW / – BMO InvestorLine provides personalized advice and support to even more Canadian investors online with expanded access to adviceDirect, with effective updates October 1st, 2021.

“AdviceDirect is a unique investment solution that combines the convenience of digital investing with personalized advice on the platform and access to advisor support,” said Silvio stroescu, Head, InvestorLine, BMO Financial Group. “Although many investors are already benefiting from this hybrid approach, we have lowered the entry threshold to allow new and young investors to take their first steps in investing and use the personalized advice offered to make decisions. even smarter. “

CouncilDirect updates include:

  • Reduction of the minimum balance: Lower the minimum investment balance requirement to $ 10,000 of $ 50,000 to bring the platform and service to a wider segment of investors.
  • Changes to the advisory fee structure: The $ 750 the minimum annual fee has been removed and investors will simply pay the standard 0.75% fee on their billable assets, up to a maximum annual advisory fee of $ 3,750 – On a $ 10,000 account, this is equivalent to $ 75 annually.
  • Extended free exchanges: Adding a new level of free transactions for customers with assets between $ 10,000 and $ 50,000 – Those in this bracket will receive 15 free exchanges per year.

As interest in digital investing continues to grow, BMO InvestorLine is continually seeking opportunities to offer adviceDirect to more investors and allow them to invest with confidence. Throughout 2021, new features were introduced in conseilDirect to enhance the digital investing experience, including:

  • adviceDirect view: A free digital tool that helps online investors by giving them access to portfolio management resources and features that are part of the conseilDirect digital platform.
  • Portfolio health check: This tool provides free and unlimited portfolio reviews based on four key metrics and a report highlighting the strengths of the portfolio and aspects investors may want to reconsider.
  • Digital platform improvements to self-directed trading platforms and Direct Advice, including a portfolio view feature, distribution and search tabs, trading ideas and faster trade entry.

For more information on Direct Line of Action and Counseling, please visit: bmo.com/conseildirect

adviceDirect is a product of BMO InvestorLine Inc. BMO InvestorLine is a member of BMO Financial Group. ®Trademarks of the Bank of Montreal, used under license. BMO InvestorLine Inc. is a wholly owned subsidiary of Bank of Montreal. Member – Canadian Investor Protection Fund and Member of the Investment Industry Regulatory Authority of Canada.

An adviceDirect account is a non-discretionary fee account that offers investment recommendations. adviceDirect does not provide portfolio management by a portfolio manager. The client makes his own investment decisions and manages his own investment portfolio. adviceDirect does not offer discretionary managed accounts.

BMO Wealth Management is the brand name of a group of companies comprising the Bank of Montreal and certain of its affiliates, including BMO InvestorLine Inc., in providing wealth management products and services.

About BMO Financial Group
Serving clients for 200+ years, BMO is a highly diversified financial services provider – the 8th largest bank in terms of assets, North America. With total assets of $ 971 billion from July 31, 2021, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to over 12 million clients and operates through the through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

SOURCE BMO Financial Group

For further information: Media contacts: Colleen Hamilton, Toronto, [email protected], (416) 867-3996


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