For many clients, giving back to their community and leaving a legacy is a meaningful way to distribute their wealth. When it comes to philanthropy, Bruce Tessier, BMO Nesbitt Burns Investment Advisor, Cornwall, ON, ensures the comprehensive wealth plan he creates for his clients contains a philanthropic component. Bruce specializes in supporting clients who are retired, or about to retire, with protecting their principal and ensuring their capital lasts their lifetime.

Bruce’s long-time clients Dale and Lois Keyes, were keen to disperse their wealth locally, having strong roots in the North Dundas County area going back generations. The Keyes knew they wanted to make a significant donation to the Winchester District Memorial Hospital, which held special meaning for Dale and Lois. As a child, Dale broke his leg and has always remembered the kindness of the treatment he received from doctors and nurses.

“We encouraged the donation of securities for tax purposes,” says Bruce, who engaged BMO’s tax specialists, as well as legal and insurance departments, to look at different angles within the wealth plan to ensure the pledge had the most impact.

In December 2020, Dale and Lois presented a $1 million cheque to the Winchester District Memorial Hospital Foundation to help the hospital buy a new CT scanner. In a letter to the hospital, the couple stated:

“We have given this a great deal of thought and decided to make Winchester District Memorial Hospital our charity of choice. This not only touches many in our close local community but reaches out a long way. We are so fortunate to have this great facility in our rural community. It is important that everyone understands that special equipment is not supplied by our provincial government but is done through fundraising by our very dedicated and capable people here at WDMH.”

Philanthropy is at the forefront of Bruce’s mandate, personally and professionally. He is the former president of a local chapter of the Heart and Stroke Foundation, and between 2013-2019 he served in various roles including chairing the Board of Governors at St. Lawrence College, leading several fundraising activities.

“I had another client, who has since passed away, and as part of our gifting strategy we donated $1.8M to four charities over several years—the Winchester Hospital being one of them,” says Bruce. This client didn’t have any children, he notes, which is why it was important to disperse wealth in a meaningful way.

Donor advised funds are another strategy that Bruce explores with his clients. This allows the funds to be invested through the BMO Nesbitt Burns Architect Program, providing access to a range of managed portfolios. 

The opinions expressed above are those of the named client author and are in no way representative of the views of all clients. Client testimonials do not constitute a guarantee, warranty, or prediction regarding outcome of your investments.