Bmo Nesbitt Burns Securities Ltd. (Toronto, Ontario)

Name: Bmo Nesbitt Burns Securities Ltd.
Address: C/O Legal Department, 1 First Canadian Place, Toronto, Ontario, M5 X 1 A1
Telephone: 416-359-4000

Bmo Nesbitt Burns Securities Ltd. is a large advisory firm based in Toronto, Ontario. It manages $321.81 million of regulatory assets for 410 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of California and New York.

Bmo Nesbitt Burns Securities provides financial planning services, portfolio management for individuals and small businesses, and portfolio management for businesses and institutional clients. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Bmo Nesbitt Burns Securities: assets under management

The assets under management (AUM) of Bmo Nesbitt Burns Securities Ltd. is $321.81 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 544% since the beginning of its operation, and $45.84 million of the total AUM is attributable to clients outside of the United States.

The firm manages $321.81 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $784.91 thousand each.

Investments

The firm invests in exchange traded securities the most. They account for 82% of the total AUM. The second-largest asset type is investment and business development companies, which make up 7% of the firm’s portfolio. Investments in cash and cash equivalents form 6% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Bmo Nesbitt Burns Securities Ltd. for their services and products based on a percentage of assets under management. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients William A L Brown serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of William A L Brown is high net worth individuals with 101 clients and $244.63 million of assets under management. Among the 8 most similar advisory firms, Bmo Nesbitt Burns Securities has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $321.81 million for 353 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 42% of the firm’s clients are foreign persons or businesses.

Bmo Nesbitt Burns Securities doesn't advise any private funds.

Careers at Bmo Nesbitt Burns Securities Ltd.

The company employs 215 people that are either part- or full-time employees. 69 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

William A L Brown has been acting as President since 1 Jan 2012. Darren Charles Mcmillan joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Bmo Nesbitt Burns Inc.	Sole shareholder	1 Sep 1997	75% - 100%	foreign entity
Devanand Persaud	Director	1 Dec 2004	Other	4779881
Gordon Edward Young	Director/president/ceo	1 Dec 2004	Other	2962306
Devanand Nmn Persaud	Director	1 Dec 2004	Other	4779881
William A L Brown	Director	1 Jan 2012	Other	3144046
Bruce Aaron Ferman	Director	1 Jan 2014	Other	6304645
Stephanie Ann Lake	Cfo	1 Oct 2015	Other	5845009
Leslie Leroy Plastow	Cco	1 Nov 2015	Other	5447785
Jeffrey Allen Worf	Chief compliance officer	1 Mar 2016	Other	1416591
Kimberly Diane Shilton	Chief compliance officer	1 Jul 2016	Other	6624899
Bruce Aaron Ferman	Chairman of the board	1 Sep 2016	Other	6304645
Gordon Edward Young	Director	1 Sep 2016	Other	2962306
Tamara Peres	President	1 Sep 2016	Other	6602563
Tamara Nmn Peres	President	1 Sep 2016	Other	6602563
Tamara Nmn Peres	Chief compliance officer	1 Jul 2017	Other	6602563
Sarah Goel	Director	1 Sep 2017	Other	6873975
Clare Kathryn Pierce	Director	1 Sep 2017	Other	1822394
Darren Charles Mcmillan	Chief compliance officer	1 Apr 2018	Other	2347547

Indirect Owners

The SEC currently registers 7 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Bank Of Montreal Securities Canada Ltd.	Sole shareholder	1 Apr 1992	75% - 100%	foreign entity
Bmo Nesbitt Burns Corp Ltd.	Sole shareholder	1 Oct 1994	75% - 100%	foreign entity
Bank Of Montreal Holding Inc.	Sole shareholder	1 Sep 1997	75% - 100%	foreign entity
Bank Of Montreal	Sole shareholder	1 Sep 1997	75% - 100%	foreign entity
Bank Of Montreal Holding Inc.	Sole shareholder	1 Sep 1998	75% - 100%	foreign entity
Bank Of Montreal	Sole shareholder	1 Sep 1998	75% - 100%	foreign entity
Bmo Nesbitt Burns Holdings Corporation	Sole shareholder - via organizational amalgamation	1 Nov 2012	75% - 100%	foreign entity

Based in Toronto, Ontario

The principal office where Bmo Nesbitt Burns Securities Ltd. performs its advisory services is located at C/O Legal Department, 1 First Canadian Place, Toronto, Ontario, M5 X 1 A1 The mailing address of the firm is 111 West Monroe, Chicago, IL 60603. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 416-359-4000 or by fax 416-359-4311. The normal business hours are 9:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at bmo.com/nesbittburns.