Bmo Private Investment Counsel Inc.
Registered investment adviser · Toronto, Ontario · CRD #160344
Form ADV data as of 2026-09-01Regulatory assets
$40.18 billion
Total accounts
73,898
Employees
130
Disclosure events
8
Firm details
- Website: https://www.linkedin.com/company/bmo-private-banking/mycompany/
- Telephone: 416 359-5001
- SEC file number: 801-74232
- Most recent Form ADV filing: 2026-03-23
- SEC record: View this firm on the SEC's IAPD site
Disciplinary disclosures
This firm reports 4 disclosure questions answered Yes, covering 8 reported events. Form ADV Item 11 covers charges and pending proceedings as well as findings, so a Yes answer is not itself a finding of wrongdoing. The underlying detail is filed with the SEC.
- SEC or CFTC found a violation of its regulations or statutes
- Another regulator found a violation of investment-related regulations or statutes
- Another regulator entered an order in connection with investment-related activity (past 10 years)
- A self-regulatory organization found a violation of its rules
Assets and accounts
| Provides continuous and regular supervisory or management services | Yes |
| Discretionary regulatory assets under management | $40.18 billion |
| Non-discretionary regulatory assets under management | $0 |
| Total regulatory assets under management | $40.18 billion |
| Discretionary accounts | 73,898 |
| Non-discretionary accounts | 0 |
| Total accounts | 73,898 |
| Regulatory assets under management attributable to non-U.S. persons | $39.46 billion |
People
| Total employees (excluding clerical) | 130 |
| Employees performing investment advisory functions (including research) | 130 |
| Employees who are registered representatives of a broker-dealer | 0 |
| Employees registered as investment adviser representatives with a state | 0 |
| Employees registered as IARs for another investment adviser | 0 |
| Employees who are licensed insurance agents | 46 |
| Firms or persons who solicit advisory clients on the firm's behalf | 0 |
Custody
| Has custody of client cash or bank accounts | Yes |
| Has custody of client securities | Yes |
| Client funds and securities held in the firm's custody | $40.18 billion |
| Clients for whom the firm has custody | 33,143 |
| A related person has custody of client cash or bank accounts | Yes |
| A related person has custody of client securities | Yes |
| Client funds and securities held in a related person's custody | $40.18 billion |
| Clients for whom a related person has custody | 33,143 |
| The firm acts as a qualified custodian | No |
| A related person acts as a qualified custodian | Yes |
| Number of persons acting as qualified custodians for the firm's clients | 2 |
How the firm is compensated
Advisory services offered
Other business activities
Affiliated related persons
Reported conflicts of interest
Form ADV Items 8 asks advisers to disclose arrangements that may create a conflict with client interests. This firm answered Yes to:
- Recommends securities in which it has another proprietary interest
- Recommends securities for which it serves as underwriter or general partner
- Recommends securities in which it has another sales interest
- Brokers or dealers selected under 8.C.(3) are related persons
- Recommends brokers or dealers to clients
- Brokers or dealers recommended under 8.E. are related persons
- Compensates a non-employee for client referrals
Client types
| Type of client | Clients | Assets |
|---|---|---|
| Individuals (other than high net worth individuals) | 18,117 | $5.88 billion |
| High net worth individuals | 8,176 | $17.41 billion |
| Charitable organizations | 39 | $228.6 million |
| State or municipal government entities (including government pension plans) | 3 | $108.3 million |
| Insurance companies | 14 | $111.4 million |
| Corporations or other businesses not listed above | 4,839 | $12.42 billion |
| Other | 1,955 | $4.03 billion |