Automate your adviser

Fee-based service helps online investors with portfolios.



From the November 2012 issue of the magazine.


Discount brokerage clients now have a new way of getting advice on their portfolio. BMO InvestorLine has unveiled a fee-based service that’s a hybrid between a full-service brokerage and a bare-bones online discount brokerage. Claiming to be a Canadian first, adviceDirect gives BMO’s online investors a suite of automated portfolio management tools and research along with a little human advice.

The service examines holdings to assess risk, asset allocation and diversification relative to a client’s investor profile. They get stock and fund tips, and can phone investment specialists to talk about their portfolios. The price? BMO charges 1% annually on portfolios of $100,000 to $500,000, 0.75% for up to $1 million, and 0.5% for accounts over $1 million.

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