Becoming A Client
Becoming a client is easy. Here are the steps we take to opening your account with us as
well as other information about what happens after you open your account(s).
Understanding Your Needs - The client questionnaire
Before we begin investing your account or preparing an investment plan, we first need to
learn about your goals and objectives. To learn about your goals we gather financial,
investment, and personal information using a Client Questionnaire. This questionnaire
will serve as the foundation for an initial discussion with your Advisor.
The goal for this first discussion is for you to get to know your Advisor, learn how they will service your account, and for you to ask questions about the process. Both you and your Advisor should be on the same page.
Proposal Stage - What we will do for you
From the information we gather we will develop an investment strategy or investment plan
based on your unique goals and objectives. We will review the plan with you to ensure
that we cover every aspect of your financial needs. We encourage our clients to become
engaged in the process and to ask as many questions as they need to so they feel
comfortable with the investment strategy or financial plan. Remember your Advisor serves
as your guide to making the right financial decisions. Don't be afraid to ask questions.
Account Set Up - We handle all the paperwork for you
We will prepare all paperwork necessary to open and transfer your accounts. All you will
have to do is sign the forms and review the documents to ensure their accuracy. Once the
account(s) is open at BMO Nesbitt Burns you will begin to receive account statements and trade confirmations directly from BMO NB.
Account Transfers - How this works
If you have accounts at other institutions or banks, we will transfer these accounts to
BMO NB so they can become part of your comprehensive investment plan. Depending on
the assets you own inside of your account(s) we will either move the existing positions or
liquidate them so these can move inside your new account(s).
All account transfers will be done taking into consideration tax consequences and trading
costs. You will be informed of all fees and costs prior to transferring any account.
Trading - According to a mutually agreed upon strategy
Once we are assigned to your account(s) as your Advisor we will begin implementing
your new investment strategy. All the information we gathered from our initial meeting will
be translated into an actual investment plan, also known as an Investment Policy
Statement, that will include the types of investments you'll own and in what types of
Monthly Market Updates - Keeping you informed
On a monthly basis you will receive Market Updates to keep you informed of economic
and market conditions as well as opportunities. In these Market Updates you will also
receive useful tips and information to help you make better financial decisions.
Account Reviews - An ongoing process
It's important to review your account to ensure that your objectives, financial situation and
other factors have not changed. While we will be in contact with one another on a regular basis, we recommend a full review of your account at least once a year. This involves reviewing all the original information you submitted at the initial engagement meeting to make sure nothing has changed.