FAQs about BMO adviceDirect
Find out everything you need to know about BMO adviceDirect.
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Account basics
To open an adviceDirect account, you must deposit a minimum of $10,000. Your initial balance can be a deposit, transfer, or a combination of both. Several accounts can be linked to form a billing group, but one of these accounts must have a minimum of $10,000 in total billable assets.
- adviceDirect is designed for clients who prefer to manage their own portfolio, with guidance from tools and expert advisors. It might not be best for active traders, day traders and those who use other frequent trading strategies.
You can open the following types of accounts with adviceDirect: Cash, Margin, RSP, RESP, TFSA, RRIF, PRIF, RLSP, LRIF, LIF, RLIF and LIRA.
You can get started any of the following ways:
- Complete an online application.
- Call us at 1 8 8 8 7 7 6 6 8 8 6 1 888 776-6886 between 8 a.m. and 6 p.m. (ET), Monday to Friday.
- Drop in to any BMO Bank of Montreal branch.
- Download and print an application, fill it in and drop it off at a BMO Bank of Montreal branch or mail it to: BMO InvestorLine adviceDirectTransit #3973First Canadian Place100 King St. W., Floor B1Toronto, ON M5X 1H3
- You must maintain the minimum of $10,000 in assets in at least one of their adviceDirect accounts. Our adviceDirect team monitors accounts to ensure they meet this minimum requirement.Should the account size drop because of market fluctuations, you will not be penalized. However, the account will be reviewed and you may be asked to close your adviceDirect account if the account drops below the minimum for other reasons such as, withdrawals or transfers.
- BMO InvestorLine is a member of the Canadian Investor Protection Fund (CIPF).As such, your adviceDirect account will be covered by CIPF up to $1,000,000. However, CIPF does not cover clients' losses caused by changing market values. For more information, visit the Canadian Investor Protection Fund site.
Forms and Documentation
- A Certified True Copy of a document or form is one that has been reviewed, validated, and stamped by an authorized BMO employee.To validate your document(s) or form(s) as a Certified True Copy, visit your local BMO branch and speak with an employee for assistance.
- In Person: Present one piece of Canadian government-issued (federal, provincial, or territorial) photo ID at your local BMO branch to be validated as a Certified True Copy. Please note that provincial health cards are not accepted as a valid form of Proof of Identification.Or;or by mail: Provide copies of TWO documents, ONE from Group A and ONE from Group B.
Need help to submit a completed form or document?
Have access to your account?
Follow the steps below to upload a form or document."Accounts" Tab"Documents""Document Upload"Unable to access your account?
Follow the steps below to contact us for help to upload a form or document."What would you like to discuss""Forms & documentation""What specific topic do you need help with""How do I upload or send a document"A BMO InvestorLine representative will reach out and help you submit your form or document.Table listing the different types of documents within Group A and Group B. Column one lists the documents that fall within Group A. Column two lists the documents that fall within Group B Group A Group B Federal, Provincial or Territorial issued photo ID (excluding provincial health cards) Credit Card statement Utility bill (water, electricity, or telecommunications) Bank statement Registered investment account statement (e.g., TFSA, RRSP, RRIF) Loan account statement (e.g., mortgage, car loan, etc.)
Have questions? That’s what we’re here for.
Call us
Connect with an Advisor from Monday to Friday 8 a.m. to 6 p.m. (ET).
1-844-274-3762 North America (Toll-free)
1-416-355-8366 International (Collect call)
Chat with us
Connect with a Specialist from Monday to Friday 8 a.m. to 8 p.m. (ET).
