BMO looks to female financial advisors for growth

|By:, SA News Editor

Fighting for market share in wealth management, Bank of Montreal (BMO -0.4%) is launching a campaign to attract more female advisers, and today opens a website aimed at recruiting women to its BMO Nesbitt Burns brokerage unit.

Money management has traditionally been dominated by males, and of 1.3K Nesbitt Burns managers, 16% are women, up from 1% two years ago - figures that are roughly inline with the rest of the industry, according to PriceMetrix.

BMO's bid comes as banks across the industry are looking to wealth management for growth amid continued sluggishness in their more traditional lending businesses.