At all stages of your practice, we can help you manage your assets, plan for retirement and enjoy the lifestyle you’ve earned.

Our team specializes in advising physicians, surgeons, specialists and residents at every stage of their medical careers. With long hours, busy schedules and the other extreme demands of your profession, you need a dedicated team to manage your complex financial affairs and keep your wealth experience streamlined and simplified.

Why invest with BMO Private Wealth?

We provide much more than experienced, disciplined  wealth management advice. What sets us apart is the collaborative way in which we approach your full-circle wealth considerations. We bring all the experts you need to the table who have extensive experience working together to serve the needs of affluent clients:

 

  • An estate planning team which includes our in-house lawyers.
  • A tax planning team featuring CPAs who have worked with the big four accounting firms.
  • Wealth Planners who are Certified Financial Planners (CFPs®).
  • Trust specialists who have helped families with some of the most emotionally charged, complex family and business dynamics.
  • BMO Private Bankers, commercial lenders, philanthropic strategists, and other professionals who know how to use the sophisticated offerings in the BMO Private Wealth toolbox.

 

Through our culture of close collaboration and forward thinking that unites a network of experts,  with your interests top of mind, we can help you to:

 

  • Plan for retirement without relying on the sale of your practice,
  • Plan your estate, no matter how complex,
  • Maximize your income stream,
  • Pay down debt,  
  • Enjoy the wealth you’ve worked long and hard to achieve,
  • Plan for practice succession,
  • And much more.

 

To keep things streamlined for you, we deliver this tremendous breadth of offerings through one relationship with our team. We will integrate everyone’s advice in the context of your overall Wealth Plan.

Full-circle wealth services

Wealth is like health – the best outcomes depend on a holistic approach.

We can help you manage your assets, plan for retirement and live your vision. Catering to busy MDs, we make banking, borrowing, investing and wealth planning quick and easy, all under one convenient roof.

First, we will address your immediate needs, such as financing your new practice or buying a home. As we get to know you better, we will build a comprehensive wealth plan that grows with your needs.

Working closely with BMO specialists, we can bring you tailored services in private banking, commercial banking, lending, tax planning, trust and estate planning, insurance, business succession strategies, legacy planning, and more. Ask us to introduce you to the right individuals for your needs.

 

Goals-based wealth planning

Our disciplined wealth planning is based on your own meaningful goals rather than market benchmarks. Your Wealth Plan is the blueprint upon which your asset allocation and investment portfolio will be built and measured. Our complete, tailored wealth services will be delivered through a personalized relationship with you and a deep understanding of your unique financial challenges.

We will help you minimize taxes to offset high earnings and manage your portfolio proactively; good returns are especially important for physicians with large expenses. Physicians often have too little portfolio diversification, which creates risk. We will allocate your assets to help protect you from market volatility.

 

Expertise at reducing debt and boosting cash flow

Attending medical school, starting and growing your practice comes at a significant cost.  We can help you to pay down substantial debt, begin to accumulate capital, adopt strategies to improve your cash flow and develop disciplined spending habits without feeling like you’re on a budget.

 

Strategies for a great retirement

We are well-qualified to help you plan for all your financial needs. In addition, we work closely with BMO Wealth Planners in complex situations. Together, we can help you to understand and plan to achieve an ideal retirement as you define it. The key is to diversify intelligently so that all your assets are not held within your practice.

 

Discretionary investment management

Our team offers discretionary investment management, which alleviates decision-making pressures on busy doctors. Delegate your portfolio decisions and free yourself from daily decisions, which can enable us to respond fast when opportunities or risks arise.

 

A dedicated Private Banker who provides bespoke services to help you:

Your BMO Private Banker provides more nuanced and attentive service than you’ll find at a branch or online. They will:

  • Get to know you and build a long-term relationship.
  • Simplify your banking and take care of your day-to-day needs with white-glove service to save you time and money.
  • Offer you enhanced rates and lending opportunities in certain circumstances.
  • Help you manage debt effectively by offering:
    • Financial advice,
    • A BMO® Medical Student Line of Credit,
    • BMO® CashBack® Mastercard®,
    • BMO® Rewards® Mastercard, and
    • A free chequing account.
       
  • Help you connect with BMO lending experts who provide:
    • A medical professional’s line of credit and credit cards at preferred interest rates,
    • Small business incorporation and tax planning advisory services,
    • Business mortgages, and
    • Capital financing and cash flow management.

 

Practice succession advice

Unlike traditional business owners, physicians cannot easily or objectively measure the value of their practice in order to transfer it to another clinician. You are your practice. So, together with experienced BMO business advisory and practice succession experts, we will help you decide how and when to retire and transition your wealth tax-effectively to loved ones and charitable organizations.

 

Contact us to discuss your needs