BMO Financial Group Merges Harris Bank and M&I Bank's Financial Advisor Networks to Better Serve Clients' Financial Planning and Wealth Management Needs
- Newly formed group will include a network of 230 professionals serving clients in 11 states - Combined business comprises approximately $12 billion in total client assets - Clients benefit from state-of-the-art technology, a broader product line and an enhanced customer experience
CHICAGO, Aug. 2, 2012 /PRNewswire/ -- BMO Financial Group today announced the creation of BMO Harris Financial Advisors, a dedicated network of professionals committed to serving the financial planning and wealth management needs of BMO Harris Bank clients.
The newly formed group brings together financial advisors from Harris Bank and M&I Bank (both part of BMO Financial Group) and draws on the extensive experience and knowledge of 165 financial advisors serving clients in 11 states. BMO Harris Financial Advisors' combined business totals more than $2.5 billion in discretionary assets under management (AUM) and more than $9 billion in brokerage assets.
"We're committed to seeking out synergies within the BMO Harris Bank and M&I networks that will enhance our ability to service our clients," said Terry Jenkins, Executive Vice-President and Head, Harris Private Bank. "This expanded network of financial advisors will work collaboratively to deliver a holistic financial service experience. With the launch of BMO Harris Financial Advisors, we are more uniquely positioned than ever before to provide an exceptional client experience."
Technology, products and client service at heart of new team
The BMO Harris Financial Advisors team will be working with state-of-the-art technology to assist clients with financial planning and to guide them through wealth management services such as asset management, insurance, income planning, education planning, and retirement planning.
Innovative tools include Pershing broker-dealer solutions, the Albridge wealth reporting platform, which provides consolidated reporting and trading capabilities, and Envestnet's end-to-end money management platform for proposal generation, investment management and performance reporting.
BMO Harris Financial Advisors will also be delivering an in-house asset allocation strategy and will incorporate third-party managers in conjunction with proprietary funds. The result is a blend of managed money solutions ranging from the BMO Managed Asset Allocation Program (MAAP) to BMO Strategic Fund Portfolios, among the first bank-sponsored all-Exchange Traded Fund (ETF) managed money solution in the industry. The managed money programs are complemented by a full suite of brokerage and insurance products and services to help meet client wealth management needs.
From a client service perspective, BMO Harris Financial Advisors comprises financial advisors from BMO Harris Bank's Commercial and Personal Banking divisions to provide an all-encompassing customer experience.
"Consolidating our broker-dealer business into a single entity will enable us to focus on servicing mass affluent retail investors looking for the best minds to address their financial planning and wealth management needs," said Mike Miroballi, President, BMO Harris Financial Advisors. "Clients of BMO Harris Financial Advisors will benefit from innovative technology, an extensive product line, and superior customer service due to our broad presence."
"Our financial advisors take the time to get to know their clients and understand their unique financial situations," said Dean Urbanski, Head of Sales, BMO Harris Financial Advisors. "Looking forward, we will continue to expand and add to our team in order to help Americans with financial planning and asset allocation."
For more information on BMO Harris Financial Advisors, please visit http://www.bmoharris.com/financialadvisors
About BMO Harris Bank
Based in Chicago, BMO Harris Bank N.A. provides a broad range of personal banking products and solutions through over 650 branches and approximately 1,350 ATMs in Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Nevada, Arizona and Florida. BMO Harris Bank's commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the U.S. Deposit and loan products and services provided by BMO Harris Bank N.A. Member FDIC. BMO Harris Bank(SM) and M&I® are trade names used by BMO Harris Bank N.A. BMO Harris Bank is part of BMO Financial Group, a North American financial organization with 1,600 branches, and a retail deposit base of approximately $180 billion.
SOURCE BMO Financial Group
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