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BMO InvestorLine

BMO InvestorLine

October 21, 2014 09:00 ET

BMO InvestorLine Announces Changes to adviceDirect to Make First-Of-Its-Kind Service More Accessible

- Minimum assets required to open an adviceDirect account lowered to $50,000 (previously $100,000)

- Annual account fees reduced from 1 per cent to 0.75 per cent

- Clients with assets over $500,000 will not pay any incremental fees

TORONTO, ONTARIO--(Marketwired - Oct. 21, 2014) - BMO InvestorLine today announced pricing changes to its adviceDirect service to make the pioneering offering accessible to more Canadian investors. These changes include a new minimum account balance and a new fee structure.

BMO InvestorLine introduced adviceDirect in 2012 to help Canadians who are seeking more guidance when investing. adviceDirect is an innovative service that acts as a virtual investment advisor, providing buy and sell recommendations based on an investor's profile that is tailored specifically for his or her goals, time frame and risk tolerance.

The adjustments announced today include:

  • Lowering the minimum assets required to open an account from $100,000 to $50,000
  • A reduction in annual account fees from 1 per cent to 0.75 per cent (for billable assets from $100,000 to $500,000)
  • The elimination of any incremental fees for clients with assets over $500,000 (fees are capped to a maximum of $3,750)

"The changes we're introducing to adviceDirect are consistent with our ongoing commitment to opening up online investing to a wider cross-section of Canadians. This will make it more affordable and convenient to become a BMO InvestorLine client," said Julie Barker-Merz, President, BMO InvestorLine.

Today's announcement is the latest in a series that BMO InvestorLine has made to open up online investing to a larger group of Canadians. Recently it introduced a number of offerings for its Self-Directed service, including a $9.95 flat trading fee, Traditional and Simplified Chinese-language websites and an incentive offer for young Canadians (aged 18-35) designed to encourage them to begin investing sooner.

New adviceDirect Fee Structure

Total billable assets in adviceDirect: Fee per year
$50,000.00 - $100,000.00 $750 (flat fee)
$100,000.01 - $500,000.00 0.75% x assets in adviceDirect account(s)
$500,000.01 and up No incremental fee ($3,750 maximum fee)

For more information, please visit www.bmo.com/advicedirect.

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About BMO InvestorLine

BMO InvestorLine is an online investing service that provides clients with two ways to invest online. Clients can choose from BMO InvestorLine's top ranked Self-Directed service that provides tools to help investors make independent decisions on how to invest. BMO InvestorLine's other service, adviceDirect™ provides investors with online advice and investment recommendations for their portfolios. Clients have access to trading, quotes and account information 24 hours a day through a website. BMO InvestorLine also provides users with third party research, along with leading edge tools that are informative and easy to use. As an all-in-one investment source, it is a constantly evolving, cost-efficient platform that is fully compatible with tablets.

BMO InvestorLine Inc. and BMO Ligne D'action Inc. provide this commentary to clients for informational purposes only. The information contained herein is based on sources that we believe to be reliable, but is not guaranteed by us, may be incomplete or may change without notice. The comments included in this document are general in nature, and professional advice regarding an individual's particular position should be obtained.

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

BMO InvestorLine Inc. is a member of BMO Financial Group.

® Registered trade-mark of Bank of Montreal, used under licence. BMO InvestorLine Inc. is a wholly owned subsidiary of Bank of Montreal Holdings Inc. Member - Canadian Investor Protection Fund and IIROC.

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