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Provides specialized wealth and tax planning advice to High Net Worth and Ultra High Net Worth (HNW/UHNW) clients to help meet their long-term financial objectives. Partners with Relationship Managers (Private Bankers, Investment Counsellors, Investment Advisors) and other planning specialists to deliver comprehensive planning solutions encompassing tax, financial, retirement, estate, succession, philanthropic and trust planning strategies. Supports the growth and retention of HNW/UHNW client assets through sophisticated wealth and tax planning solutions that broaden client conversations, enhance relationships and identify opportunities to improve after-tax outcomes, consolidate assets and increase revenues. Contributes to enhancing the client and BMO Advisor experience thus driving increased profitability, improved share of wallet and Net Promoter Scores. CPA/CA designation strongly preferred.
- Provides advanced tax planning advice for individuals, families, trusts, holding companies and owner-managed businesses.
- Identifies tax-efficient strategies related to wealth accumulation, retirement, income distribution and wealth transfer.
- Collaborates with clients' external tax advisors, accountants and legal professionals on complex planning matters.
- Monitors changes in tax legislation and assesses potential impacts on HNW/UHNW clients.
- Develops planning concepts and strategies to help clients minimize taxes and optimize after-tax outcomes
- Provides customized advice and specialized planning services to HNW/UHNW client segments.
- Facilitates/participates in goals-based discovery process directly with clients, and ensures standards relative to data capture and plan creation are met thereafter to maintain effective knowledge management within business/group.
- Demonstrates a consultative and collaborative value-added approach in client conversations, acting as a member of a client strategy team to facilitate the desired client experience.
- Applies well-developed consultative sales and wealth planning principles, practices and techniques in client interactions.
- Acts as a subject matter expert in area(s) of specialized planning, including regulations and policies, to properly assess and provide insights and solutions to clients.
- Leverages financial analysis in the development of detailed and complex financial plans.
- Consults with clients and their external advisors on complex issues, as required.
- Provides commentary and awareness on emerging trends and new legislation through articles, case laws, and advanced planning solutions.
- Develops content in the area(s) of specialized planning for use as training material, internal resource material and client-facing material.
- Leads/participates in the development/presentation of educational programs in the area(s) of specialized planning within BMO and to clients.
- Develops/maintains internal and external networks and referral sources to ensure ongoing growth of the business.
- May network with industry contacts to gain competitive insights and best practices.
- Protects the Bank’s assets by adhering to all banking and investment regulations, Bank policies and procedures, legal and ethical requirements and regulations, process requirements, and established risk guidelines.
- Operates at a group/enterprise-wide level and serves as a specialist resource to senior leaders and stakeholders.
- Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine.
- Implements changes in response to shifting trends.
- Broader work or accountabilities may be assigned as needed.
- Take measured risks while protecting the bank by applying our Risk Management Framework in the execution of your role, in line with our Risk Culture and within our approved Risk Appetite, making sound and risk informed decisions that align to business strategy, protect assets, and adhere to applicable policy documents (Frameworks, Policies, Standards, Procedures and Supporting documents), laws and regulations.
- Qualifications:
- Typically between 5 - 9 years of relevant experience and a University degree in relevant field of study.
- Post-graduate degree is desirable.
- Relevant professional designation is considered an asset.
- Experience dealing with HNW/UHNW clients.
- Proven track record in developing and growing a profitable financial or related client services business.
- Extensive knowledge and technical proficiency related to wealth planning strategies, issues and trends.
- Broad knowledge of financial institutions, services and products.
- Broad knowledge of investment management principles, economics and financial markets.
- Seasoned professional with a combination of education, experience and industry knowledge.
- Verbal & written communication skills - In-depth / Expert.
- Analytical and problem solving skills - In-depth / Expert.
- Influence skills - In-depth / Expert.
- Collaboration & team skills; with a focus on cross-group collaboration - In-depth / Expert.
- Able to manage ambiguity.
- Data driven decision making - In-depth / Expert.
- CPA/CA designation strongly preferred.
- Experience developing and delivering advanced tax planning strategies for affluent individuals, families, trusts and business owners is considered a significant asset.
- Mandarin and/or Cantonese language skills are preferred
This job posting is for a current vacancy.
Salary:
Pay Type:
The above represents BMO Financial Group’s pay range and type.
Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.
BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards
About Us
At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.
As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.
To find out more visit us at https://jobs.bmo.com/ca/en.
BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.
Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.
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