BMO launches ETF-based online portfolio tool for Canadian investors

Jan 25th, 2016 | By | Category: ETF and Index News

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BMO Wealth Management, the fund management division of the Canadian bank, has expanded its suite of investment services available to Canadian Investors with the launch of SmartFolio. The service requires a minimum investment of CAD 5,000 and uses a questionnaire to determine the user’s investment goals and risk tolerance. The investor is then assigned to one of five ETF-based portfolios most closely suiting their objectives.

BMO launches SmartFolio, an ETF-based robo-advisor for Canadian investors

Joanna Rotenberg, Head of Personal Wealth Management, BMO Financial Group.

“BMO SmartFolio is another example of how we are innovating to address the evolving needs of our customers,” said Joanna Rotenberg, Head of Personal Wealth Management, BMO Financial Group. “This new service complements and adds to our existing wealth management digital and retail offerings. With the introduction of BMO SmartFolio, we now have one of the most comprehensive suites of investing services in the industry.”

Each of the five portfolios contains a mix of speciality fixed income and equity ETFs, providing efficient access to focused market segments. BMO also supplies a team of experts to assist in the management of these portfolios. The transparent nature of the ETF vehicle allows users to enjoy instant access to information regarding their holdings and performance.

Charyl Galpin, Head of BMO Nesbitt Burns, part of BMO Wealth Management, added: “We created BMO SmartFolio with simplicity, intuitiveness and transparency as the guiding design principles. We wanted to make the service as easy to use as possible. Further, we introduced a digital signature technology that expedites the onboarding process. We also provide clients with multiple options for support, including live chat, phone and e-mail.”

The success of SmartFolio will likely be boosted by the scale, distribution channels, and existing client base of BMO’s current operations. Coupled with the strong growth rate in the online portfolio management space, SmartFolio is likely to enjoy strong growth.

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