BMO Financial Group delivers a comprehensive suite of financial services under the brand name “BMO Wealth Management.” This encompasses investment management, trust services, and various banking products. It’s important for clients engaging with BMO, especially online and potentially in locations like Montreal, to understand the structure and different entities that operate under this umbrella.
BMO Wealth Management is not a single entity but a brand representing services offered through several distinct, yet affiliated companies. In the United States, these include BMO Bank N.A., which provides traditional banking and trust services; BMO Family Office, LLC, offering family office and investment advisory services; Stoker Ostler Wealth Advisors, Inc., also for investment advice; and BMO Delaware Trust Company, specializing in trust and investment management. “BMO Family Office” itself is another brand name encompassing BMO Bank N.A., BMO Family Office, LLC, and BMO Delaware Trust Company, offering a wide range of family office, investment, banking, and loan services. All these entities are ultimately under BMO Financial Corp., a subsidiary of the Bank of Montreal (BMO). It’s crucial to note that BMO Delaware Trust Company’s operations are limited to Delaware and do not include typical banking products like deposits or financing, and it is not FDIC insured. Product and service availability may vary by location.
For those exploring wealth management services online, particularly with institutions like BMO in major hubs such as Montreal, understanding these distinctions is key. BMO Private Bank is another brand name used in the U.S. by BMO Bank N.A. and, like other BMO brands, service availability can differ by state. When considering online financial services with BMO, whether you are in Montreal or elsewhere, it is vital to recognize that various legal and regulatory frameworks apply.
It is also important to be aware of certain legal and compliance notices. Information provided by BMO is for marketing and promotional purposes of planning strategies and should not be considered legal or tax advice. BMO Bank N.A. and its affiliates explicitly state they do not provide legal or tax advice, urging clients to consult with their own independent advisors. Estate planning, for example, requires legal expertise that BMO does not offer. Banking products are subject to approval and are provided in the United States by BMO Bank N.A., Member FDIC.
Furthermore, in compliance with the USA Patriot Act, BMO is required to collect and verify information from clients opening accounts to help prevent terrorism financing and money laundering. This is standard practice across financial institutions and ensures the security and integrity of the financial system. When opening an account, be prepared to provide necessary identification information, which may be used for credit checks and identity verification. Failure to provide requested information may lead to account closure.
Finally, when navigating BMO’s online platforms or any linked third-party websites, remember to review their respective privacy and security policies. Links to external sites do not imply endorsement by BMO, and it’s always best practice to understand the terms and conditions of any website you interact with online, especially when dealing with financial matters. For individuals seeking to verify credentials of financial advisors, resources like adviserinfo.sec.gov and cfp.net/verify-a-cfp-professional are available for due diligence.
