Financial Literacy Month-BMO's Tip of the Day: Choose an Investment
Advisor Who Is Right For You and Will Help You Meet Your Financial
TORONTO, ONTARIO -- (Marketwire) -- 11/03/12 -- To mark Financial
Literacy Month, BMO Financial Group is releasing a series of
financial tips throughout November. As part of 'Making Money Make
Sense' and BMO SmartSteps, the tips are designed to help individuals
and families save and manage their day-to-day finances more
BMO's Tip of the Day: Know what you need and consider a variety of
factors when selecting an investment advisor.
BMO Nesbitt Burns offers the following tips when selecting an
Soft skills matter: Look for an advisor who listens to you and takes
an interest in your specific life situation. That means extending the
wealth management conversation beyond investments to include things
that matter to you, such as insurance, estate planning, tax planning,
business succession planning and/or education savings.
Contact is key: A good advisor will work with you to define and
manage your service level expectations for contact. Regular contact -
such as portfolio reviews, phone calls and face-to-face meetings to
discuss information related to your overall financial plan - is
Get the lowdown: 'Client service' should imply more than a financial
statement. It should be followed up with meaningful conversations,
either by phone or face-to-face. Also, ensure you have a clear
understanding with your advisor of the fees you will be paying and
the services you will receive to avoid any surprises.
Consider credentials: Choose an advisor who possesses well-known
industry designations - such as Personal Financial Planner (PFP)(R),
Chartered Investment Manager (CIM)(R) or Chartered Financial Analyst
(CFA)(R) - and is committed to ongoing continuing education.
"There is tremendous value in working with a trusted investment
advisor given the myriad of financial options available to Canadian
investors today," said Bill Brown, Senior Vice President and Managing
Director, BMO Nesbitt Burns. "A financial professional who
understands your financial goals can not only help you identify a
suitable investing strategy that is unique to you and your needs, but
can also greatly en
hance your ability to succeed when it comes to
managing your investments."
To learn more about BMO's investment advisors, please visit
"CFEE commends BMO's ongoing efforts to support Financial Literacy in
Canada and promote ways in which Canadians can increase their
competence and confidence when managing their personal finances on a
day-to-day basis," said Gary Rabbior, President, Canadian Foundation
for Economic Education (CFEE).
BMO Financial Literacy Month Tips
November 1: Maximizing TFSA investments annually over 20 years can
save nearly $30,000 in taxes.
November 2: Utilize Rewards to Squeeze the Most Value Out of Every
Dollar You Spend this Holiday Season
For more on financial literacy, Canadians can visit the Government of
Canada's Financial Literacy Month website, as well as BMO's Financial
Literacy online resource.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a
highly diversified North American financial services organization.
With total assets of $542 billion as at July 31, 2012, and more than
46,000 employees, BMO Financial Group provides a broad range of
retail banking, wealth management and investment banking products and
Rachael McKay, Toronto
Valerie Doucet, Montreal
Laurie Grant, Vancouver
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