About BMO Bank of Montreal
BMO SmartFolio differentiates itself as a premium 'hybrid' advisory service, providing the digital convenience of a robo-advisor with the tactical oversight of human experts. Unlike strict, algorithm-only platforms, SmartFolio portfolios are actively monitored and adjusted by BMO Global Asset Management professionals who shift allocations based on macroeconomic trends. While its management fees sit at the higher end of the spectrum, it delivers a level of human tactical intervention that provides immense peace of mind to investors transitioning away from high-fee mutual funds.
The Good
- Assets held at CIRO-member Custodian
- Portfolios monitored by human experts (Nesbitt Burns)
- Seamless real-time integration with BMO bank accounts
- High-trust institutional security and reporting
The Bad
- One of the most expensive robos (0.70% starting fee)
- Forced to use only BMO-branded ETFs
- No Socially Responsible (SRI) portfolio options
Fee Structure
Updated 2026| Fee Type | Details | Cost |
|---|---|---|
|
Portfolio Management Fee
|
Management fee for the first $100,000.
Min Bal: $1000
|
0.70% |
|
Portfolio Management Fee
|
Management fee for the next $150,000.
Min Bal: $100001
|
0.60% |
|
Portfolio Management Fee
|
Management fee for the next $250,000.
Min Bal: $250001
|
0.50% |
|
Portfolio Management Fee
|
Management fee for balances above $500,000.
Min Bal: $500001
|
0.40% |
|
Fund MER (Embedded Cost)
|
Weighted average embedded MER for the underlying ETFs (ranges from 0.20% to 0.35%).
|
0.28% |
|
Transfer Out Fee
|
$150 fee for full or partial account transfers out to another institution.
|
$150.00 |
Key Features
Automatic Rebalancing
The platform automatically buys and sells assets in the background to keep your portfolio perfectly aligned with your target risk level.
Goal-Based Investing
Set specific financial targets (like a down payment or retirement) and track your progress with dedicated, optimized portfolios.
Access to Human Advisors
Speak directly with licensed financial planners or portfolio managers for personalized wealth strategy and advice.
Mobile App (iOS & Android)
Manage your portfolio, execute trades, and monitor the markets on the go with a fully-featured mobile application.
CIPF Protected
Your account is safeguarded by the Canadian Investor Protection Fund (CIPF) against the insolvency of the brokerage.
Bank-Owned / Big 6
Backed by the financial stability, security, and integrated banking convenience of one of Canada's major banks.
Active Management
Portfolios managed by human experts who actively buy and sell assets to try and beat the market average.
CIRO Member
RateBuddy Verdict
undefined stands out for its comprehensive tools for active traders. With competitive pricing and a solid reputation backed by BMO Bank of Montreal, it remains a top contender in the Canadian market.