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BMO Review

as of 07/04/2020 at 2:19 pm

Holly's View

BMO was better known as F&C before being acquired by the Bank of Montreal. This group was a big player in the Child Trust Fund space and so will have a lot of teenagers today on its books. With a fixed fee of £72 a year for ISAs this is decent enough, but a 0.2% charge on investment purchases will be hefty for larger amounts. Offers access to a solid 10 investment trusts. Website is fresh but help with which investments to pick could be improved.

Our Rating

Recommended For

Confident Investor

In a nutshell

Old and global pedigree

Decent website

Good service

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What to Expect

Investment Choice

Products

Stocks and Shares ISA

Junior ISA

Investment Account

Investments available

Investment Trust

Investment help

The 'Geeky' Details

Provider details

BMO offers a decent range of investment trusts along with the flagship F&C Investment Trust which is a mixed bag of global shares. Fixed fees on accounts (£72 for an ISA, £48 for a GIA and £30 for a Junior ISA) are decent. However the 0.2% charge on investments bought on the ISA will be relatively high for any investment sizes which are higher than £5,000. This structure means this is best suited to buy and hold investors who will not trade much, and who are happy with a limited choice of own-brand investment trusts.

Not for people who want to pick and choose, this will suit those who want a limited range of decent investments from a well-established and well-respected global fund manager, with minimum fuss and a decent website.

Important Facts & Figures

Provider Size:

A huge global fund manager that manage over $850b (CAD) in assets. They have been in the game for a long time, with their Investment Trust founded over 150 years ago.

Minimum amounts: £50 direct debit (£30 for JISAs)
£500 initial investment, £250 thereafter.
12 month indicative performance:

Feb 19 to Jan 20 - F&C Investment Trust: + 12.26%

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