Bmo Private Investment Counsel Inc. (Toronto, Ontario)

Name: Bmo Private Investment Counsel Inc.
Address: 100 King Street West, Toronto, Ontario, M5 X 1 A1
Telephone: 416 359-5001

Bmo Private Investment Counsel Inc. is an adviser based in Toronto, Ontario. It manages $24.63 billion of regulatory assets for 61,026 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of California, Florida, Illinois, and 6 other states.

Bmo Private Investment Counsel provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for approximately 1,500 clients. On top of advisory services, the firm doesn't engage in other business activities.

Bmo Private Investment Counsel: assets under management

The assets under management (AUM) of Bmo Private Investment Counsel Inc. is $24.63 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 11% since the beginning of its operation, and $24.36 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $24.63 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $403.6 thousand each.

Bmo Private Investment Counsel has custody of $24.63 billion in cash and securities for 29,296 clients in total and its related person acts as a qualified custodian.

Investments

The firm invests in other assets the most. They account for 72% of the total AUM. The second-largest asset type is exchange traded securities, which make up 19% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Bmo Private Investment Counsel Inc. for their services and products based on a percentage of assets under management and fixed fees. 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 Bmo Private Investment Counsel serves?

The firm provides services to individuals, insurance companies, charitable organizations, high net worth individuals, corporations or other businesses, and state or municipal government entities. The largest group of clients of Bmo Private Investment Counsel is high net worth individuals with 5,027 clients and $9.09 billion of assets under management. Among the 12 most similar advisory firms, Bmo Private Investment Counsel has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $22.43 billion for 27,890 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 99% of the firm’s clients are foreign persons or businesses.

Bmo Private Investment Counsel doesn't advise any private funds.

Careers at Bmo Private Investment Counsel Inc.

The company employs 116 people that are either part- or full-time employees. 92 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 doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Richard B Mason	President and chief executive officer	1 Dec 2011	Other	5782023
Bmo Nesbitt Burns Inc	Owner	1 Nov 2012	75% - 100%	foreign
Krista Lynn White	Chief financial officer	1 May 2013	Other	6286156
Sophia Bella Ruffolo	Chief compliance officer	1 Jan 2015	Other	6443020
Anthony Ross Bennett	President and chief executive officer	1 Aug 2016	Other	4847883
Danielle Nardi	Chief compliance officer	1 Jul 2017	Other	6836208
Denise Theresa Fernandes	Chief compliance officer	1 Mar 2019	Other	7096650
Bruce Aaron Ferman	President and chief executive officer	1 Apr 2019	Other	6304645

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Bmo Nesbitt Burns Corporation Limited	Owner	1 Oct 1994	75% - 100%	foreign
Bank Of Montreal	Owner	1 Oct 1997	75% - 100%	foreign
Bank Of Montreal Holdings Inc.	Owner	1 Nov 2012	75% - 100%	foreign

Based in Toronto, Ontario

The principal office where Bmo Private Investment Counsel Inc. performs its advisory services is located at 100 King Street West, Toronto, Ontario, M5 X 1 A1, which is also the mailing address of the firm. The firm also has an office outside of the United States.

You can reach the main office by calling the phone number 416 359-5001 or by fax 416-359-5040. The normal business hours are 8:30am to 4:30pm on Monday - Friday. You can find more information about the New York firm at bmoprivatebanking.com.