According to Kennedy, when dealing with families whose monetary assets are so large, it is important to find a common denominator, no matter where in the world that family lives or how different its cultural values. She said that many families have the same desire to build a legacy and to share their good fortune through charitable donations reflecting their view of a better world.
“[With] over 200 years of banking experience, we’re building an opportunity for that,” Kennedy said. “Every family is different, but each one is important to me and my employer.”
Darrel Hackett, president of BMO Wealth Management U.S., said that the decision to rebrand to BMO Family Office exemplified the company’s commitment toward meeting the increasingly complex needs of ultra-high-net-worth families.
“[They] expect more than excellent investment advice,” he said in a news release.
BMO Family Office is a division of BMO Wealth Management US, headquartered in Chicago. Both companies are divisions of the Bank of Montreal. Founded in 1817, Bank of Montreal is Canada’s oldest incorporated bank.