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Thursday, June 20, 2013

BMO's New Accounts Director Speaks

Reported by Tommy Fernandez

Don Borschel, BMO's recently-hired new director of national accounts recently outlined for MFWire his priorities for the near-future.

The former Nationwide vice president and senior relationship manager is now responsible for the distribution of BMO investments strategies and funds to the bank channel and various broker dealer platforms.

Borschel told MFWire that one of his key focuses is "building long-term relationships."

Another area promising opportunities in the near-future, he said, is product development. He had this to say on the subject:

We are always looking to provide investment solutions to our clients actionable solutions to the problems they face. For example, we are in the process of registering our Target-Date Funds as traditional mutual funds. Previously, they had been collective trusts. Within this new vehicle, and with the same outstanding investment teams in place, more of our clients will have access to this solution.

There are eleven products slated for the transition.

They are:

Five BMO Target Date Retirement Funds
BMO Target Retirement 2010 Fund
BMO Target Retirement 2020 Fund
BMO Target Retirement 2030 Fund
BMO Target Retirement 2040 Fund
BMO Target Retirement 2050 Fund

Six BMO Target Risk Funds
BMO Diversified Income Fund
BMO Moderate Balanced Fund
BMO Growth Balanced Fund
BMO Aggressive Balanced Fund
BMO Diversified Stock Fund
BMO Aggressive Stock Fund

More information on the Target Date Retirement Funds can be found in this SEC Filing.

In addition to BMO-branded products, Borschel will also work to drum up awareness of his company's boutique managers, including Monegy, Pyrford International, Lloyd George, and Taplin, Canida & Habacht.

With regards to sales hires, Borschel said that "we are always looking for innovative and seasoned professionals to further strengthen our sales team." 

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