Home / Bank of Montreal becomes first of the big banks to launch ’robo-adviser’ service
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Bank of Montreal becomes first of the big banks to launch ’robo-adviser’ service

The Bank of Montreal is introducing a so-called robo-adviser service starting Jan. 18.

TORONTO — The Bank of Montreal has launched an online portfolio manager, making it the first of the big five Canadian banks to wade into the “robo-adviser” business.

After a trial run that started on Dec. 7, the service — dubbed SmartFolio — is available to all investors starting Monday.

While other large Canadian banks have hinted they’re considering a foray into online investment advice, BMO is the first of the big five banks to launch such a service, despite electing to build the product in-house rather than partnering with a financial technology firm as some of the other banks are expected to do.

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