Bank of Montreal 2010 Annual Report Download - page 11

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BMO MoneyLogic
Customers tell us they want to better
understand their finances and be
more active in managing their money.
With MoneyLogic, the new personal
financial management tool from BMO,
they can easily view, track and
manage their spending and savings
online. They can also use the free tool
to prepare personal budgets and set
savings goals.
“We’re listening. Clear information and advice
are at the heart of making money
make sense at BMO.”
More Smart Steps
BMO introduced SmartSteps to Canadians
to provide them with ways to save
money quickly, become debt-free faster
and better manage their spending.
Building on the program’s success,
we followed up in 2010 with SmartSteps
for Business, SmartSteps for Investing
and SmartSteps for Students, as well as
Harris Helpful Steps in our U.S. markets.
Creating Confidence
Having access to the right information –
relevant, clear and straightforward – is
the first step toward achieving financial
control and confidence. We’ve made clear
information and advice a key part of our
offering at BMO. Whether we’re making our
banking agreements easier to understand,
clearly disclosing our fee structures
and interest rate calculations, or providing
resources to help in decision-making,
customers can count on BMO for easy
access to the information they need.
• BMO FirstHome Essentials kit
• Business Coach podcast
• Take Charge of Your Retirement online
• Student Banking: SmartSteps for
Students online
• BMO Business Insights eNewsletter
10 20 30 40 50 60 70 80 90
Net Worth
Age
Opening an account
Getting your first job
Going to post-secondary school
Caring for a loved one
Getting divorced
Losing a job
Buying your first homeHaving a baby
Getting married
Starting a business
Buying a car
Losing a loved one
Receiving an inheritance
Planning for retirement
Long-term disability
Living your retirement Critical illness
Dealing with tax changes
Events that most Canadians
think they won’t experience
Planning for your estate
When Financial Advice is Needed – Triggering Events over the Life Cycle
Source: The Investment Funds Institute of Canada (2010)
1990 2009
$1.2
trillion
$3.4
trillion
+183%
Growth in Financial
Assets of Canadians
+77%
1990 2009
$54,200
$96,100
Canadians’ Average
Household Debt1
1 Consumer, mortgage and other. Includes households with and without debt.
Source: Roger Sauvé, The Vanier Institute for the Family and Statistics Canada (2009),
and Ian Russell, President and CEO, The Investment Industry Association of Canada (2010).
BMO Financial Group 193rd Annual Report 2010 9
www.bmo.com/smartsteps
www.bmo.com/moneylogic
Cherry Cruz
Relationship Manager, BMO Bank of Montreal
Toronto, Ontario
www.harrisbank.com/helpfulsteps
Take Charge of
Your Retirement
In 2010, we continued to roll out
Take Charge of Your Retirement.
This program helps customers
to think differently about their
retirement and make sense of the
link between their financial and
non-financial retirement goals.