Seeking Alpha

BMO looks to female financial advisors for growth

  • 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.
Comments (1)
  • jv will
    , contributor
    Comment (1) | Send Message
     
    To BMO: Keep your head-hunters away from our CIBC Wood-Gundy (female) finicial advisor. My wife and I have had several advisors over the years but it wasn't until working with the most recent two - both women - that we noticed a difference. Female advisors are simply friendlier, gentler when giving information or recommendations, and likely to answer the dumbest question without any of the attitude previously experienced with male advisors. My wifr's anxiety in dealing with her portfolio has dropped to zero. So, BMO, bugger off. Steal our advisor and we'd have to follow her; a great inconvenience.
    - J.P. Vaillancourt
    25 Jul, 03:08 PM Reply Like
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