BMO US Private Wealth is doubling down on a key market segment with a big, bold and bicoastal recruitment move.
The private wealth subsidiary of BMO Financial Group – one of Canada's six largest lenders and the eighth largest bank in North America, with a reported $1.4 trillion in assets as of July 31 – announced the expansion of its Law Firm Group with seasoned professionals in California and New York.
The 18 new hires bring over 150 years of combined experience to the wealth management division, specializing in providing comprehensive services to lawyers and law firms across the US.
"We are thrilled to welcome this extraordinary group of talented wealth professionals to our Law Firm Group at BMO,” Kevin Barnes, head of North American private wealth management at BMO said in a statement. “The law firm market segment continues to be a critical part of our wealth strategy, and we have assembled a dedicated and best-in-class team to serve it."
The new hires and their divisions include:
They have served as trusted advisors to some of the largest law firms not only in the United States but also in the UK and Europe, which BMO said "[extends its] sight to seamless coverage globally."
The newly bolstered team includes private wealth advisors, private bankers, wealth planners, and portfolio managers who will work under Michele Havens, BMO's newly appointed head of US Private Wealth. Havens most recently served as West Region president at Northern Trust Wealth Management, a position the firm has refilled as it announced two key leadership appointments on Tuesday afternoon.
With a service history that stretches back over more than four decades, BMO's Law Firm Group offers an array of services, including banking, trust, deposit, treasury management, and investment solutions, tailored specifically to legal professionals.
BMO Financial Group, recognized as the eighth-largest bank in North America by assets, reported total assets of $1.4 trillion as of July 31, 2024.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
