BMO’s 10 Best Ideas and Conversation Starters of 2022 for Clients – and Advisors
Another year is drawing to a close, providing the perfect opportunity to revisit some of the most engaging articles we’ve published on Fund Central over the past 12 months. BMO Global Asset Management’s Sam DiTella has rounded up the best client relationship insights and practice-management ideas that resonated with our Advisor community.
December 2022
During a challenging stretch for investors, job one was to deliver timely information to clients on how best to position portfolios while clearly articulating the complex market dynamics at work. We paid particular attention to how to address concerns about volatility, as well as how to work through a potential recession and the impact of inflation.
Just as important to Advisors, however, have been our articles on not just operating your business to its full potential, but growing it: delivering a new tool to support KYP obligations as well as a taste of the “secret sauce” for a successful handoff for Advisors selling their book, and those acquiring a new one.
Here are the top 10 must-reads from the year that was:
#10 Supporting Snowbird Clients with US Dollar Income Strategies Read Time: 5 minutes
With many Canadians now heading south for the winter, here’s how Advisors can help ensure they have sufficient cash flow to cover monthly expenses. (Includes interview link to How Snowbirds Can Earn $3,000 Per Month in U.S. Income)
#9 Myth Busting Intergenerational Wealth Transfer and ESG Read Time: 7 minutes
When it comes to ensuring the successful transfer of wealth to Millennial children, the presence of an ESG mandate can go a long way to safeguarding these investments—and your business. (Includes link to Quick Start Guide to the ESG Advisor Tool Kit)
#8 Tax Tips and Myth-Busting for 2022 and Beyond Read Time: 6.5 minutes
From RRSP rules to considerations for high-net-worth individuals, it’s always better to be prepared with these client-facing talking points. (Includes Pro Tip link to Canada Revenue Agency’s ‘What’s New?’ Page)
#7 5 Client Concerns About Inflation Read Time: 4.5 minutes
Investors are understandably concerned as elevated prices have shifted conversations to inflation’s everyday impact, from monthly budgets to retirement plans. Here are some tips for navigating those important discussions.
#6 GICs vs. Fixed Income? How to Earn Your Way Through a Crisis Read Time: 5 minutes
As inflation remains stubbornly high, even GICs carrying attractive rates are losing money in real terms. Thankfully this BMO fund can help generate income and add greater upside potential.
#5 KYP Is Official. Now What? Read Time: 5.5 minutes
It’s been almost one year since new KYP rules came into effect. Apprehension among Advisors initially has given way to comprehension, with the aid of a new tool to support KYP obligations. (Includes KYP Made Easy for your BMO Fund Recommendations)
#4 How to Coach Your Clients Through a Recession Read Time: 5 minutes
With opinions differing on where we’re at in the market cycle, here’s how Advisors can talk clients through various possible outcomes. (Includes three Client Conversation scenarios for bearish, moderate and bullish outlooks)
#3 5 Questions Your Clients May Ask About Volatility Read Time: 6 minutes
Ring, ring… another anxious client is on the phone. Markets are going wild and they’ve got urgent questions about their portfolios. Are you prepared?
#2 The “Secret Sauce” for Advisor Succession Read Time: 4.5 minutes
Succession is a milestone for any Advisor. If you’re retiring, it’s your last act on behalf of clients. If you are acquiring a new book, it’s an opportunity for growth and to earn the trust of new clientele. (Includes 3 tips for buyers and sellers, respectively)
#1 Taking a Big Swing: 5 Tips for Buying a Book Read Time: 5.5 minutes
Meet the Advisor who bought and integrated four books in five years. His secret lies in a golf metaphor: hit straight, trust your follow through—and don’t be afraid to shoot for the green. (Includes Advisor Matthieu Bouchard’s go-to BMO GAM fund picks)
For a robust Mutual Fund search, Top Fund Ideas, PM insights, Advisor Stories, and an ESG hub, explore BMO Fund Central. For strategies and insights to further enrich your practice, contact your BMO Global Asset Management Regional Sales Representative.
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