BMO InvestorLine offers free portfolio health checks

New digital tool allows online investors to assess portfolios based on four key indicators

BMO InvestorLine offers free portfolio health checks

BMO InvestorLine is empowering Canadian investors to evaluate the health of their investments with a newly launched digital tool.

Using the adviceDirect Portfolio Health Check tool, investors will be able to get a portfolio check-up without having to visit a BMO branch.

“As the industry continues to experience a surge in adoption of digital investing and record trading volumes, we recognize the importance of supporting clients with digital solutions like our adviceDirect Portfolio Health Check tool more than ever,” said Silvio Stroescu, head of InvestorLine at BMO Financial Group. “This new digital tool is another way we are empowering new and experienced investors to make smart investing decisions.”

Online trading platforms have seen significant spikes in activity and account openings over the course of the COVID-19 pandemic as more people spend time indoors and on the web. In some cases, that activity has led to phenomenal surges in prices of unlikely names, most recently illustrated by the GameStop saga that captured the financial world’s attention last week.

To utilize the tool, users are first asked to select one of four investor personality profiles that matches them best. Then after the user enters their investments and holdings, it assesses their portfolio based on four key indicators:

  • Asset allocation;
  • Diversification;
  • Security ratings; and
  • Risk.

From there, investors are instantly provided with a report that highlights the strengths of their portfolio as well as aspects they may want to give a second look. Aside from being complimentary, the tool allows investors to conduct a portfolio check-up as many times as they wish.

“We are committed to scaling our suite of digital tools and services to meet their evolving needs,” Stroesco said.


Follow WP on FacebookLinkedIn and Twitter