Toronto-based HollisWealth Inc., a subsidiary of Scotiabank, will launch a robo-advisor platform in 2016. Other banks, such as Canadian Imperial Bank of Commerce, Royal Bank of Canada and Bank of Nova Scotia have all indicated that they are looking into digital advice options. and Oakville, Ont.-based Invisor Investment Management Inc. However, BMO has confirmed that the fund mix within the portfolios could open up in future to other non-BMO ETFs based on what investors are seeking and what investments are in the best interest of those investors.īMO SmartFolio joins a number of independents including, Wealthsimple Financial Inc., Nest Wealth Asset Management, both headquartered in Toronto, Vancouver-based WealthBar Financial Services Inc. ETF management fees range between 0.2% and 0.35%.Ĭurrently, all funds held within the portfolios are BMO ETFs. The platform also offers a tiered fee structure ranging from 0.7% for the first $100,000 down to 0.4% for accounts of $500,000 or more. The minimum fee for the account is $15 per quarter. Investors can open an account with a minimum of $5,000. Financial professionals with BMO Global Asset Management will manage each of the five portfolio options. Each portfolio contains between six and 10 ETFs on average. The investors will then be recommended one of five exchange-traded fund (ETF) portfolios based on that information. We also believe our personal financial planning and investment advice gives our clients the best chance of reaching their goals. Invisor 78 Visit Site addaphoto Overall info 4. Investors with BMO SmartFolio will answer a series of questions online to identify their risk tolerance and their savings goals. Invisor manages 84.7 million and provides investment advisory services for 146 clients (1:73 advisor/client ratio).
0 Comments
Leave a Reply. |