Updated: Mar 4
Offering includes wealth management advice
The competition for doctors’ business ramped up on Wednesday when Bank of Montreal announced its suite of banking and wealth management services aimed at healthcare professionals.
In addition to financing options tailored to physicians and lines of credit for medical and dental students, BMO’s healthcare banking program includes wealth management advice for investments, succession planning and retirement.
BMO is the fourth of the Big Six banks to announce a program aimed specifically at healthcare professionals. TD Wealth Management launched a program aimed at healthcare providers in December. Bank of Nova Scotia, in collaboration with MD Financial
Management, which it acquired in 2018, and Canadian Imperial Bank of Commerce launched their own programs in March.
Regarding the timing of BMO’s announcement, Romal Bryce, BMO’s head of healthcare, North American industry sectors, said the bank has offered services tailored to healthcare professionals for the past 10 years.