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BMO Financial Group dives into the digital age with SmartFolio launch

Sudarshan Sitaula
|Jan 18|magazine6 min read

So many parts of our daily lives can now be managed and controlled online, and that includes the management of our financial assets. Doing its part to increase these abilities even further, this week the Bank of Montreal (BMO) Financial Group launched BMO SmartFolio, an online portfolio manager to help clients use make informed decisions about investments and managing their wealth.

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This is no small jump forward—according to the CBC, the Bank of Montreal emerges as the first of the five major Canadian banks to offer this “robo-advisor” type service. Elsewhere, firms like Charles Schwab and Vanguard have been at the forefront of the automated investing movement. As the raised-on-technology Millennial generation matures and grows more concerned with wealth management, it becomes more important to meet that generation in the digital landscape where they feel most comfortable.  

"BMO SmartFolio is another example of how we are innovating to address the evolving needs of our customers," said Joanna Rotenberg, Head, Personal Wealth Management, BMO Financial Group, in a statement to the press. "This new service complements and adds to our existing wealth management digital and retail offerings. With the introduction of BMO SmartFolio, we now have one of the most comprehensive suites of investing services in the industry."

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"We created BMO SmartFolio with simplicity, intuitiveness and transparency as the guiding design principles," added Charyl Galpin, Head, BMO Nesbitt Burns, part of BMO Wealth Management. "We wanted to make the service as easy to use as possible. For example, when clients are asked for specific information, SmartFolio explains the rationale for why it's needed. Further, we introduced a digital signature technology that expedites the onboarding process. We also provide clients with multiple options for support, including live chat, phone and e-mail."