BMO (TSX:BMO) Insurance has announced a significant reduction in management expense ratios (MERs) for its guaranteed investment fund products and the introduction of four new fund options, catering to both general and affluent investors. The move is aimed at enhancing wealth accumulation and protection for clients, with immediate benefits for current and future investors.
The company has introduced the BMO Aggregate Bond Index ETF GIF, which allows access to Canada's principal fixed income ETF through a segregated fund platform. Additionally, it has launched the BMO Canadian Income & Growth GIF, BMO Global Income & Growth GIF, and BMO Global Innovators GIF. These offerings are designed to provide diversified growth opportunities and income generation.
To cater to wealthy clients with investment amounts of at least $250,000, BMO Insurance has created Prestige Class F with competitive fees. This new class is part of the firm's broader initiative to support financial advisors in managing and growing client wealth portfolios more effectively.
The fee reductions are applicable across ten Class A and thirteen Class A Prestige series funds within the BMO GIF 75/75 series. Rohit Thomas, President of BMO Insurance, highlighted that these enhancements are part of the company's ongoing commitment to providing value to advisors and their clients.
BMO Financial Group, with a history exceeding 200 years and assets totaling $1.25 trillion as of July 2023, serves over 13 million customers across North America and internationally. The firm continues to focus on fostering economic prosperity and inclusive growth through its diversified financial services.
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