BMO Harris’ long history spans over 200 years, and today, their services extend far beyond the typical banking and borrowing. The North Shore’s BMO Private Bank offers services for wealth planning, trust services, retirement planning, insurance advisement, investment management, and succession planning for businesses and individuals, to name a few.

The idea of wealth management and financial planning can be intimidating, yet BMO Private Banking uncomplicates the process. Their North Shore office is comprised of experts with decades of experience who understand the “whys” behind clients’ questions and are available to help guide clients throughout.

Each client has a team tailored to their own personal needs. This can include a dedicated wealth planner, portfolio manager, trust specialist, and each client always works directly with a wealth advisor, who assembles the team and acts as the primary point of contact.

“It’s the quality of the people that sets BMO apart,” says Katie Florig, the Managing Director of BMO Private Bank’s North Shore location. “We’re proud to serve individuals and families across the North Shore and we’re proud they choose to place their trust in us.”

BMO can rely on the vast research and capabilities of a large financial institution and then bring it down to the market level on the North Shore to customize its local service. Everyone in the BMO office lives and works on the North Shore, so they have the unique benefit of actually knowing the clients they serve. At BMO, the experts and advisors not only understand the business challenges of the general fields they serve but at a much more personal level, they understand the issues that these clients face locally as well.

Every BMO client receives custom-tailored service unique to their personal financial goals and planning. Currently, BMO is preparing its clients for the proposed wide-spreading federal tax changes. To prep clients, the BMO North Shore team is creating models for each client with possible scenarios, predicting what will happen to clients’ finances if certain proposed changes are passed, and the possible outcomes to their finances—for example, what would happen if a client did nothing, or if they only took one or two of the proposed steps BMO is recommending.

BMO keeps their clients at the very heart of the matter, making plans for what will have the greatest long-term savings impact.

“Transparency is where that sets us apart,” says Florig. “We make sure the client understands why we’re taking these steps.”

Florig emphasizes that the best financial decisions are made when a client’s entire team is involved. And if a client only takes advice from one individual involved in their wealth management, there isn’t a guaranteed positive outcome.

“Advice given in a vacuum is bad advice,” Florig says.

She stresses that you need the whole team of your estate attorney, investment advisor, wealth planner, and everyone else who may be involved to get the most accurate picture of how your finances will be affected and how you can protect them.

The key is to identify your wealth management priorities and go from there, and not take on too much all at once. And if you don’t know where to start, BMO can help while bringing their personalized touch and expertise.

BMO Private Banking’s North Shore office is located at 520 Green Bay Road in Winnetka. For more information, contact Katie Florig at [email protected] or call (847) 441-4870. BMO Harris may be one of the largest financial institutions in North America, but BMO’s commitment to giving back to the communities they serve makes it feel like a smaller-owned institution. BMO clients get the best of both worlds: the global expertise and research of a larger institution but the familiar, community-oriented teams made up of local residents, helping advise their neighbors and local businesses.