Retirement planning
To help you to plan astutely so you can live the retirement you envision, we will consider more than simply setting aside enough money to last 30 years or more. We will:
• Analyze your finances, pension plan, insurance policies, employment retirement package and the income you can expect from Canada Pension Plan (CPP) and Old Age Security (OAS).
• Help you plan to generate a tax-efficient income stream from your investment portfolio.
• Review any budgeting or lifestyle changes that may be needed.
• Liaise with BMO specialists to discuss preparing your company for sale or transfer, and the potential role it may play in your retirement lifestyle and integrate all aspects of your financial picture to simplify your retirement plan.
• Help you create a legacy for your loved ones and chosen charities.
• Consider setting up a family trust and/or private foundation.
Estate planning
An estate plan is a key component of your wealth management strategy. We help identify planning opportunities and issues, as well as introduce experts to advise you on strategies that suit your circumstances and oversee the successful implementation of your estate plan. This will help you maximize the value of your estate, minimize taxes, and control the way your estate is distributed.
Minimizing taxes during our lifetime and planning today for the transfer of assets to the future generation is a smart goal of many of our clients. We work with several accountants in this area and can offer recommendations to enhance investment returns on an after-tax basis for your next generation.
Trust and executor services
We engage experts at BMO Trust Company to offer the unique protection and tax-savings potential of family and testamentary trusts. BMO Trust Company can also provide will reviews and will direction as part of your wealth plan. Executor services can help ease the burden of administering an estate.
Insurance solutions
Asset preservation is integral to a comprehensive wealth plan. In partnership with our Estate and Insurance Advisors, we can recommend insurance solutions that will provide a greater sense of assurance by protecting you from income loss due to critical illness, injury, disability and death. Insurance can also be used as a tax-efficient estate planning tool.
Business advisory and succession planning
Succession planning is a process, not an event. Proper planning can ensure the ongoing stewardship of the business you have worked so hard to build. Together with the BMO Business Advisory & Succession Planning team, we can assist you with tax-efficient strategies and help you prepare for your transition of management and ownership of your business, whether to a family member, employee or a third party.
Lending services
Whether you’re looking to secure a mortgage, personal loan or line of credit – or if you require more specialized lending services for your family, business or practice – we will work with you to access the expertise of a BMO lending specialist, Private Banker or Commercial Banker.
Banking services
Private Banking. BMO Private Wealth offers a full range of Platinum Banking solutions that can provide you and your family with highly customized and innovative products and services that can save you time and money and minimize stress. We can introduce you to a private banking professional for bespoke solutions to your complex banking needs and concierge services for a senior loved one who needs assistance with paying bills and other financial matters.
Commercial Banking. When you wish to borrow money or source venture capital, we will liaise with our network of Private Bankers, lending specialists and corporate finance specialists to connect you with the right financing opportunities according to your level of need: Business Banking (below $1M), Commercial Banking ($1M to $10M) and Corporate Finance ($10M+).
Philanthropic strategies
Philanthropy and charitable giving are extensions of your personal beliefs and convictions. We can help you implement a solution that will have a long-term impact and enduring difference in your community and create a lasting family legacy. The solution may be anything from a donor advised fund to the creation of a private foundation through the BMO Nesbitt Burns Charitable Giving Program.