BMO Investorline

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pickmepickme
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Investorline HISA Question

Post by pickmepickme »

I have placed money in Investorline's HISA in the past, but when trying to do so today I am met with the following: Your order was not submitted for the following reasons: You may continue with your order or choose to change/cancel the order. Disclosure: An annual trailer fee will likely be paid by the Mutual Fund issuer to BMO InvestorLine.

Are there now trailer fees on AAT770?

:roll:
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Re: Investorline HISA Question

Post by pmj »

Those notices have been displayed for several months. ?All / Most? retail-class HISAs pay trailer fees, typically 0.25%, to the originating broker. The notices are new, the fees are not.
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Re: BMO Investorline

Post by pickmepickme »

Interesting - thanks for the info.
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Re: BMO Investorline

Post by AltaRed »

pickmepickme wrote:Interesting - thanks for the info.
The notices have been required as a result of new regulations (disclosure of fees) since circa July 1, 2014 I believe.
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Re: BMO Investorline

Post by Peculiar_Investor »

AltaRed wrote:The notices have been required as a result of new regulations (disclosure of fees) since circa July 1, 2014 I believe.
Good memory, although the date was July 15, 2014. The regulations are part of the implementation of Client Relationship Management II, see CRM II requirements for 2014 | Advisor.ca for more details. There are further changes rolling out over the next couple of years.
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Re: BMO Investorline

Post by Innovia »

Do any current bribes apply for someone transferring $100k into BMOIL from Questrade? I'd need to recover about $450 in account transfer fees, but I'm not looking to make money in switching.
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Re: BMO Investorline

Post by AltaRed »

Innovia wrote:Do any current bribes apply for someone transferring $100k into BMOIL from Questrade? I'd need to recover about $450 in account transfer fees, but I'm not looking to make money in switching.
Most of the discount brokers will pay transfer fees up to a certain level per account, e.g. $125-150, depending on the amount being transferred. BMO IL is one of them BUT you need to find that out first before initiating the transfers.

At certain times of year, BMO IL has been offering bribes (cash) to transfer accounts of at least $250k to them but I think they have come in the Spring the last few years. I transferred to them 2 years ago on such a bribe.
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Re: BMO Investorline

Post by Pickles »

Innovia wrote:Do any current bribes apply for someone transferring $100k into BMOIL from Questrade? I'd need to recover about $450 in account transfer fees, but I'm not looking to make money in switching.
Current offer is $300 for $100,000 in new account (although existing customers apparently can get the same offer. You could probably negotiate for coverage of some transfer fees on larger amounts. Here's the link:
https://www.bmoinvestorline.com/home/in ... L4-STBMO14
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Re: BMO Investorline

Post by Springbok »

[quote="Pickles]Current offer is $300 for $100,000 in new account (although existing customers apparently can get the same offer. You could probably negotiate for coverage of some transfer fees on larger amounts. Here's the link:
https://www.bmoinvestorline.com/home/in ... L4-STBMO14[/quote]

This is a link to the small print:

https://www.bmo.com/home/popups/personal/terms
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Re: BMO Investorline

Post by Innovia »

Thanks, I will give them a call. It is actually $110k spread across two RRSPs and a TFSA, largest account is $50k. Probably they will not be too fussy about that.

If I could get $300 as a bribe, and two $150 transfer-out reimbursements for the RRSPs, that would be a flawless victory.
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Re: BMO Investorline

Post by Innovia »

Didn't go my way, sadly. The terms and conditions are "$100k in a single account." Also, they have a scale for reimbursing transfer-out fees that starts at $25 and finishes up at $75 for my largest account.

I am not so unhappy with Questrade that I am willing to pay hundreds to switch. Questrade is not that bad, although they do odd things like email my wife about my own accounts.
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Re: BMO Investorline

Post by Springbok »

Innovia wrote:Didn't go my way, sadly. The terms and conditions are "$100k in a single account."
That was made clear in the small print link I posted. Didn't say anything more, because I thought it was worth a try.
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Re: BMO Investorline

Post by Innovia »

Yes, I saw that. It is a bit of a mystery to me as to why it matters. "Accounts" are just entries in a database, they are "free." The salient point is that I have $100k worth of assets that they can lend out and charge someone else interest on.

I had a 3 minute conversation with TDDI this morning. I said "I have $100k, can you make me whole on $450 worth of transfer fees?" He said "Sure thing."

There was bad news and good news about the visit to the TD branch just now. The bad news is that their system was down, and they couldn't do the paperwork. The good news is that they told me there is some kind of promotion starting Monday, and they are going to give me the promotion plus the transfer-out fees. That seems more than fair.
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Re: BMO Investorline

Post by poedin »

Can't sign into BMOIL & wait time via phone is 20+ minutes. Anyone else having access problems?
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Re: BMO Investorline

Post by CROCKD »

I was able to sign in.
However on the weekend I got a message that they were doing website maintenance.
Also yesterday received an email saying that my December statement was available. However I got the same email on Jan. 7 and downloaded my statement.
They sound a bit disorganized.
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Re: BMO Investorline

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CROCKD wrote:I was able to sign in.
However on the weekend I got a message that they were doing website maintenance.
Also yesterday received an email saying that my December statement was available. However I got the same email on Jan. 7 and downloaded my statement.
Same double notice on the statements :roll:
They sound a bit disorganized.
Yes indeed.
Finally able to log-in.
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poedin
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Re: BMO Investorline

Post by poedin »

Kicked out again ...
BMOIL wrote:Web down

Please note that we have been experiencing technical difficulties with the website. We are working to resolve the issue as quickly as possible. We apologize for any inconvenience this may cause...
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Re: BMO Investorline

Post by j831robert »

They were 'under repair' (my guess) all week-end and this morning as well so I telephoned, got through with very little wait and resolved my problem. I did ask if there was blood on the computer room floor but got only a chuckle in reply. Signed straight in just a few minutes ago 12:25 here.
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Re: BMO Investorline

Post by adrian2 »

Innovia wrote:Yes, I saw that. It is a bit of a mystery to me as to why it matters. "Accounts" are just entries in a database, they are "free." The salient point is that I have $100k worth of assets that they can lend out and charge someone else interest on.
They cannot lend anything other than securities in a (non-registered) margin account, up to the limit margin is actually been used.
Even if they were able to lend, they would not be able to "charge interest for it", it's a bit more complicated than that.
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Re: BMO Investorline

Post by Springbok »

Recently added new Morningstar features look interesting:
BMO InvestorLine is pleased to provide you with expanded access to equity and ETF research reports from Morningstar!

Meet your investing goals today, with access to the following reports:

Morningstar ETF Reports: Morningstar's ETF reports provide detailed analysis and ratings on over 500 North American ETF's under coverage. These four to five page reports provide commentary across a range of topics and include Morningstar's exclusive ETF Valuation Rating.

Morningstar Equity Reports: You will now have access to Morningstar equity research reports on all 1,100 North American stocks under coverage. These reports provide detailed qualitative and quantitative analysis, fair value estimates, and Morningstar's proprietary Stars ranking.

To access these reports, please visit the Quotes+ page under the Quotes & Tools tab of your account.

About Morningstar, Inc.
With 100+ equity and credit analysts, Morningstar is one of the largest independent sources for equity and credit research in the world.

©2015 Morningstar, Inc. All Rights Reserved.
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Re: BMO Investorline

Post by AltaRed »

No time to look yet but if it does not do much for Canadian equities, it is useless.
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Re: BMO Investorline

Post by Springbok »

AltaRed wrote:No time to look yet but if it does not do much for Canadian equities, it is useless.
It isn't "useless" to me. It says North American stocks/etfs "under coverage". It doesn't cover everything, but does include many Canadian etfs and stocks.
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Re: BMO Investorline

Post by drdtyc »

It seems the following $400 cash back offer by BMO Investorline is not well advertized:

http://links.bmoinvestorline.com/a/v.x? ... ajbljk&v=4

This offer is valid until March 12, 2015.
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Re: BMO Investorline

Post by gsp_ »

drdtyc wrote:It seems the following $400 cash back offer by BMO Investorline is not well advertized
For good reason.
For selected existing BMO InvestorLine Clients only.
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Re: BMO Investorline

Post by poedin »

Four new ETFs
http://www.bmo.com/etfs/newfunds/?icid= ... MO14Launch
2 "high quality" funds: ZGQ, ZUQ
International dividend: ZDI
Equity-linked corporate bond: ZEL
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