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Wealth and Tax Planning Consultant (Ultra High Net Worth)

Reference ID: 1900001230

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Reporting to the Regional Manager, Wealth Planning, (RDP) the Wealth & Tax Planning Consultant (WTPC) is responsible for providing High Net Worth/Ultra High Net Worth (HNW/UHNW) clients with complete, end-to-end wealth planning experience.
Leveraging their extensive background and deep experience in financial, wealth and tax planning, the WTPC is a professional who helps BMO Personal Wealth HNW/UHNW clients meet their long-term, financial objectives by analyzing the client's status and setting a program to achieve the client's goals. As a key BMO Personal Wealth (Private Bank and Nesbitt Burns) partner, a critical objective for incumbents in this role is to enhance the Client and BMO Advisor experience. The HWPC is accountable to partner with the client's lead Relationship Manager (i.e. Private Bankers, Investment Counsellors, and/or Investment Advisors) to deliver a client-focussed planning experience culminating in a documented, client wealth planning strategy that will guide the client relationship on an ongoing basis..
The roles' overall objective is to responsibly and proactively support the growth and retention of HNW/UHNW client assets. They provide advanced wealth planning with a particular emphasis on advanced tax planning advice/guidance to broaden the dialogue with clients with a goal of assisting in efforts to consolidate assets and increase revenue to BMO thus driving increased profitability, improved share of wallet and NPS scores.
Within a dedicated banking region, the role services the BMO Personal Wealth lines of business (i.e. BMO Private Banking and/or BMO Nesbitt Burns), and is accountable to manage the end-to-end client wealth planning experience - from discovery to financial planning analysis, development of the financial plan and recommendations, to the final presentation to the client. This includes, as appropriate, proactively identifying opportunities for or responding to client's inquiries about additional specialized planning and investment needs and aligning the client's planning conversations with BMO Wealth Management partners


Financial Planning
    •Lead and facilitate a goals based discovery process directly with HNW/UHNW clients. Ensure standards relative to data capture and plan creation are met after the conversation to maintain effective knowledge management within BMO Wealth (Private Banking and/or Nesbitt).

    •Apply well developed consultative sales and wealth planning principles, practices and techniques in their interactions with clients.

    •Leverage Wealth Planning Analyst for the development of detailed and complex financial plans using NaviPlan to support HNW and UHNW clients; the planning process for these clients requires sophisticated knowledge and execution skills to gain the trust of clients to provide a comprehensive picture of their financial dreams, personal goals and objectives.

    •Act as an expert in the field of taxation where appropriate to properly assess and provide insights to our most valued clients.

    •Compliance - ensure all planning activities and conversations are complaint within the jurisdiction they practice in.

    •Ensure that the region's client experience standards for HNW and UHNW Wealth Planning are met.

Client Relationship Management
    •Develop and implement strategies to increase the scope of services to existing and potential clients.

    •In partnership with the other members of the client strategy team, accountable to ensure that the region's client experience standards for Financial Planning and Client Relationship development are met

    •Identify and engage other professionals to create a client strategy team for the client based on needs discovered and solutions needed.

    • Provide coaching on wealth planning to relationship managers from all LOB's, Private Wealth Advisors and other distribution channels in BMOFG.

    • Promote and support a work environment that inspires innovation, creativity, collaboration and diversity

    • Support RDP as change agent for needed changes in the EWPG

Business Strategy and Executive
    • Act as a key advisor to provide professional support to team members and partner within BMO Wealth (Private Banking and/or Nesbitt Burns) to offer an integrated team of wealth management professionals (investment, banking, trust, sales) to achieve/exceed business objectives.

    • Develop and implement strategies to increase the scope of services to existing clients to expand share of wallet and grow overall business results.

Risk Management and Control
    • Ensure proper adherence to all aspects of First Principles Our Code of Conduct and Ethics
    • Protect the Bank's assets by adhering to all banking, investment and lending regulations (as appropriate), Policies and Procedures, legal and ethical requirements, process requirements, bank guidelines and established risk guidelines

    • Maintain a high standard of care and accuracy in the creation of financial plans

    • Adhere to all appropriate regulatory bodies governing an incumbent's designations


Coordinating - the role has the authority to coordinate staff to achieve business plan objectives. This role has the authority to coordinate work and/or call people together to discuss/resolve issues. May persuade people to change course and/or act in concert with each other.

Advisory - This role has the authority to provide advice and counsel to his/her colleagues on proposed client strategies

Information Access - the role has the authority to use and access all confidential information relating to clients, products and financial information within BMO Private Banking, and/or BMO Nesbitt Burns


The WTPC will be a key advisor to a team of professionals accountable to provide planning directions for High Net Worth client relationships within a dedicated region or LOB (Private Banking and/or Nesbitt Burns). These clients require a highly skilled professional comfortable discussing complex business / personal planning situations. They are accountable to identify all LOB solutions for a client situation and ensure we broaden and deepen share of wallet. It is expected that they will uncover additional business with each client. We expect they could facilitate the discovery of incremental annual revenue through these activities.


A) Knowledge
    •University degree required; postgraduate degree desirable.

    •Professional designation required: CPA/CA/CGA/CMA, LL.B./LL.L.
    •CFP/IQPF desired and incumbent will be provided a timeframe to obtain

    •5 years of experience in tax planning required.

    •Extensive knowledge of tax and tax legislation required.

    •Completion of the CICA In-depth Tax Course or M. Tax.

    •Extensive experience dealing with High Net Worth and Ultra High Net Worth clients.

    •Proven track record in developing and growing a profitable financial or related client services business.

    •Extensive knowledge and technical proficiency related to wealth planning strategies, issues and trends.

    •Broad knowledge of Bank products, services, organization and Banking Group interrelationships.

    •Broad knowledge of investment management principles, economics and financial markets.

B) Skills
    •Strong business development and relationship management skills.

    •Excellent communication and interpersonal skills.

    •Expert presentation skills (both written and verbal) with large groups and in an individual setting.

    •Strong work ethic, works well under pressure.

    •Ability to communicate complex planning advice in a comprehensive and practical manner.

    •Flexible and empathetic, able to work effectively in a variety of situations.

    •Excellent training, coaching and facilitation skills.
    •Well-developed sales and business acumen - proactive, self-starter, confident.

    •Ability to establish rapport and credibility quickly with an audience.

    •Ability to offer solutions to a magnitude of diverse, complex and ambiguous issues/situations in a creative manner.

    •Expert understanding of complex financial concepts.
    •Experience with financial and tax planning for holding companies, trusts and active business entities.

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At BMO we have a shared purpose; we put the customer at the centre of everything we do - helping people is in our DNA. For 200 years we have thought about the future-the future of our customers, our communities and our people. We help our customers and our communities by working together, innovating and pushing boundaries to bring them our very best every day. Together we're changing the way people think about a bank.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one - for yourself and our customers. We'll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we'll help you gain valuable experience, and broaden your skillset.

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BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other's differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process.


Posted: February 14, 2019
Closes: April 15, 2019
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Company Info
10,000+ employees
Banking & Finance

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About BMO

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