BMO’s wealth management unit has expanded its partnership with FactSet, a financial digital platform, by choosing the latter as its primary market data provider.
Under the renewed tie-up, FactSet will deliver its advisor workstation to BMO Wealth Management in Canada for digitally transform its operations.
Advisors of BMO Wealth Management will gain access to FactSet’s content and analytics through an intuitive web-based interface, as part of the alliance.
This will help BMO Wealth Management to improve its overall technology infrastructure, triggering advisor output and client engagement initiatives.
FactSet executive VP and head of research and advisory solutions Goran Skoko said: “Our collaboration with BMO demonstrates how FactSet’s solutions enable enterprise-wide digital transformation and reinforces our commitment to the Canadian market.
“We are thrilled to work with BMO, who is committed to implementing new technologies that will enhance communication, efficiency, and the advisor experience, and drive improved customer outcomes.”
Currently, FactSet is said to offer its services to more than 7,000 clients, including wealth managers, private equity firms, corporations and others, across the globe.
BMO private wealth chief operations officer Bruce Ferman said: “We are pleased to work with FactSet to help drive progress in BMO Wealth Management’s digital transformation journey.
“Together, BMO Wealth Management’s professionals will be equipped with the technologies to deliver enhanced client engagement and experiences.”
In July last year, BMO Financial Group announced a deal to buy Canadian environmental services provider Radicle Group to upgrade its emissions measurement offerings.