Bmo Asset Management Corp. (Chicago)


Bmo Asset Management Corp. is a large advisory firm based in Chicago. It manages $36.83 billion of regulatory assets for 847 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 48 other states.

Bmo Asset Management Corp provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Bmo Asset Management Corp: assets under management

The assets under management (AUM) of Bmo Asset Management Corp. is $36.83 billion. The firm's AUM has grown by 8% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $36.74 billion in discretionary accounts and $95.72 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $43.53 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $31.91 million.
Bmo Asset Management Corp has custody of $9.64 billion in cash and securities for 557 clients in total and its related person acts as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 55% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 20% of the firm’s portfolio. Investments in government bonds form 7% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Bmo Asset Management Corp. for their services and products based on a percentage of assets under management. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Barry Merritt Cooper serves?

The firm provides services to individuals, insurance companies, investment companies, charitable organizations, other investment advisers, high net worth individuals, pooled investment vehicles, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Barry Merritt Cooper is investment companies with 47 clients and $12.85 billion of assets under management. Among the 8 most similar advisory firms, Bmo Asset Management Corp has the 2nd highest percentage of investment companies out of all clients.

The amount of regulatory assets under management is $36.8 billion for 406 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Bmo Asset Management Corp also advises several private funds. Namely, one real estate fund, five other private funds, and two private equity funds. The minimum investment commitment required of non-related persons ranges from $200,000 to $5,000,000.

Careers at Bmo Asset Management Corp.

The company employs 132 people that are either part- or full-time employees. 29 percent of the employees work as investment advisers or researchers. 11 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Barry Merritt Cooper has been acting as President since 1 Dec 2009. Steve Raymond Ilott has served as the Chief Investment Officer since 1 Nov 2016. Daniela Anna Oleary Gill joined the executive team most recently as the Director.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Bmo Financial Corp. Sole shareholder of bmo asset management corp. 1 Sep 1989 75% - 100% 51-0275712
Gilles G Ouellette Director 1 Feb 2000 Other 4107031
Carol Ann Neal Director 1 Nov 2006 Other 4956567
Ellen Marie Costello Director 1 Mar 2007 Other 4332568
Barry Sean Mcinerney Director, chief executive officer 1 Feb 2009 Other 4379798
Barry Merritt Cooper Chairman 1 Dec 2009 Other 53458
Rajiv Rai Silgardo Director 1 Dec 2009 Other 4369824
Steve Jeffrey Arquilla Director, chief operating officer 1 Jan 2012 Other 6047503
Allan Robert Hosack Chief financial officer 1 Jun 2012 Other 5629924
Angela Marie Palmer Chief compliance officer 1 Jun 2012 Other 4915568
Phillip Edward Enochs Director 1 Sep 2012 Other 2860098
Myra Cridland Director 1 Sep 2012 Other 6140093
Craig Anthony Rawlins Director and chief investment officer 1 Nov 2012 Other 2011479
Daniel Sido Director and chief administrative officer 1 Nov 2012 Other 2599550
Carol Peka Flick Chief financial officer 1 Jul 2013 Other 4615183
Christopher Begy Director 1 Aug 2013 Other 6256575
William Albert Chinkiwsky Chief compliance officer 1 Mar 2014 Other 6314727
Jerrold Gonzalez Mauricio Chief compliance officer 1 Mar 2014 Other 3175743
Richard Charles Wilson Director 1 May 2014 Other 4338442
Afrodete Viki Lazaris Director 1 Dec 2014 Other 6436967
Matthew Bradley Wallace Chief compliance officer 1 Jan 2015 Other 4829197
Mark Andrew Gregory Chief compliance officer 1 Jul 2016 Other 2253531
Steve Raymond Ilott Chief investment officer 1 Nov 2016 Other 6723921
Steve Ilott Chief investment officer 1 Nov 2016 Other 6723921
Joan Zabida Mohammed Director 1 Dec 2016 Other 6690279
Joan Z Mohammed Director 1 Dec 2016 Other 6690279
Stephanie Ann Lake Chief financial officer 1 Jan 2017 Other 5845009
Daniela Anna Oleary Gill Director 1 Jun 2018 Other 6571653

Indirect Owners

The SEC currently registers 1 indirect owner.

Name Entity Date acquired Ownership Employer ID
Bank Of Montreal Sole shareholder of bmo financial corp. 1 Sep 1989 75% - 100% none

Based in Chicago

The principal office where Bmo Asset Management Corp. performs its advisory services is located at 115 South Lasalle Street, Chicago, IL 60603, which is also the mailing address of the firm. An additional office of the firm is in Milwaukee, WI. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 312-461-7699 or by fax 312-461-7096. The normal business hours are 8:30 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at bmogam.com.