BMO Investments drops fees, raises minimums for Ascent Portfolios

By Staff | August 30, 2017 | Last updated on August 30, 2017
1 min read

BMO Investments Inc. has made changes to the BMO Ascent Portfolios, which include:

  • BMO Ascent Income Portfolio,
  • BMO Ascent Conservative Portfolio,
  • BMO Ascent Balanced Portfolio,
  • BMO Ascent Growth Portfolio and
  • BMO Ascent Equity Growth Portfolio.

Effective immediately, the management fee applicable to Series A securities of each portfolio is reduced to 1.40% from 1.50%, and the management fee applicable to Series F securities is reduced to 0.65% from 0.75%.

Read: Advisors who don’t discuss fees risk losing clients: survey

Also effective immediately, the minimum initial investment amount in a portfolio is increased to $75,000 from $25,000, and the minimum balance for maintaining an investment is increased to $60,000 from $20,000.

BMO Ascent Portfolios are offered by BMO Investments Inc., a financial services firm and separate entity from Bank of Montreal.

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The staff of have been covering news for financial advisors since 1998.