BMO Wealth Management, a subsidiary of BMO Financial Group, has launched a new robo-adviser service called BMO SmartFolio for Canadian investors.
The new digital portfolio management service by BMO Nesbitt Burns is aligned to individual investment objectives of those who have as less as $5,000 to invest and provide clients with online access when and where required.
The service will allow investors to access some of the ETF offerings available, as well as portfolio management by a team of experts.
BMO SmartFolio offers automated investing online in five portfolios comprised of the firm’s exchange-traded funds.
Clients can avail this service by answering a series of questions that address factors such as investment objectives and risk tolerance, through an intuitive, simple-to-use interface.
BMO Financial Group personal wealth management head Joanna Rotenberg said: "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."
Commenting on the service, BMO Nesbitt Burns head Charyl Galpin said: "We wanted to make the service as easy to use as possible. For example, when clients are asked for specific information, SmartFolio explains the rationale for why it’s needed.
"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."