{
  "crd_number": 160344,
  "slug": "bmo-private-investment-counsel-inc-toronto-ontario-160344",
  "primary_business_name": "BMO PRIVATE INVESTMENT COUNSEL INC.",
  "legal_name": "BMO PRIVATE INVESTMENT COUNSEL INC.",
  "dbas": [],
  "city": "Toronto, Ontario",
  "state": null,
  "country": "Canada",
  "cbsa_code": null,
  "metro": null,
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2012-03-19",
  "years_registered": 14,
  "period": "2026-10-01",
  "filing_date": "2026-03-23",
  "carried_forward": false,
  "raum_total": 40180083812.0,
  "raum_discretionary": 40180083812.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 130,
  "advisory_employees": 130,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "other": {
      "raum": 4025255982.0,
      "count": 1955,
      "description": "OTHER, PRIVATE FOUNDATIONS, NON-PROFIT ORGANIZATION"
    },
    "charitable": {
      "raum": 228603478.0,
      "count": 39
    },
    "individuals": {
      "raum": 5877974106.0,
      "count": 18117
    },
    "banking_thrift": {
      "raum": 0.0,
      "count": 0
    },
    "state_municipal": {
      "raum": 108309757.0,
      "count": 3,
      "fewer_than_5": true
    },
    "insurance_companies": {
      "raum": 111389945.0,
      "count": 14
    },
    "investment_companies": {
      "raum": 0.0,
      "count": 0
    },
    "pension_profit_sharing": {
      "raum": 0.0,
      "count": 0
    },
    "other_investment_advisers": {
      "raum": 0.0,
      "count": 0
    },
    "high_net_worth_individuals": {
      "raum": 17410709967.0,
      "count": 8176
    },
    "pooled_investment_vehicles": {
      "raum": 0.0,
      "count": 0
    },
    "corporations_other_businesses": {
      "raum": 12417840577.0,
      "count": 4839
    },
    "business_development_companies": {
      "raum": 0.0,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": 0.0,
      "count": 0
    }
  },
  "compensation_types": [
    "fixed",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "financial_planning",
    "portfolio_management_individuals",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 4,
  "states_registered": [
    "AZ",
    "CA",
    "CO",
    "FL",
    "IL",
    "MD",
    "MI",
    "NC",
    "NJ",
    "NV",
    "NY",
    "OR",
    "TX",
    "WA"
  ],
  "websites": [
    "https://bmo.com/privatewealth",
    "https://linkedin.com/company/bmo-private-banking/mycompany"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/160344",
  "disclosure_items": [
    {
      "item": "11.C(2)",
      "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?"
    },
    {
      "item": "11.D(2)",
      "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?"
    },
    {
      "item": "11.D(4)",
      "question": "In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?"
    },
    {
      "item": "11.E(2)",
      "question": "Has a self-regulatory organization or a commodities exchange ever found that the firm or an advisory affiliate was involved in a violation of its rules, other than a minor rule violation under a plan the SEC approved?"
    }
  ],
  "city_as_filed": "TORONTO, ONTARIO",
  "url": "https://advisorcensus.com/firm/bmo-private-investment-counsel-inc-toronto-ontario-160344",
  "display_name": "BMO Private Investment Counsel Inc.",
  "summary": "BMO Private Investment Counsel Inc. is an SEC-registered investment advisory firm in Toronto, Ontario, Canada, registered since 2012, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 23, 2026.",
  "citation": "AdvisorCensus. BMO Private Investment Counsel Inc. (CRD 160344): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Fixed fees (other than subscription fees)"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "Selection of other advisers (including private fund managers)"
  ],
  "quick_answers": [
    {
      "q": "How is BMO Private Investment Counsel Inc. compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), BMO Private Investment Counsel Inc. reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees). The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is BMO Private Investment Counsel Inc. located?",
      "a": "BMO Private Investment Counsel Inc.'s principal office is in Toronto, Ontario, Canada, according to its Form ADV; the April 2026 filing also lists 29 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is BMO Private Investment Counsel Inc. registered with the SEC or a state?",
      "a": "BMO Private Investment Counsel Inc. is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 160344."
    },
    {
      "q": "How much does BMO Private Investment Counsel Inc. manage?",
      "a": "BMO Private Investment Counsel Inc. reports $40,180,083,812 in regulatory assets under management in its Form ADV filing dated March 23, 2026 (100% discretionary)."
    },
    {
      "q": "How have BMO Private Investment Counsel Inc.'s assets and staff changed since 2021?",
      "a": "In the Form ADV data for BMO Private Investment Counsel Inc.: Regulatory assets under management: $26,518,952,984 in the October 2021 data and $40,180,083,812 in the October 2026 data, up 52%. Total employees: 117 in October 2021 and 130 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does BMO Private Investment Counsel Inc. serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (18,117); high net worth individuals (8,176); corporations or other businesses not listed above (4,839)."
    },
    {
      "q": "Which custodians does BMO Private Investment Counsel Inc. use?",
      "a": "BMO Private Investment Counsel Inc.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists BMO Trust Company (affiliated with the firm) as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does BMO Private Investment Counsel Inc. report any disciplinary disclosures?",
      "a": "Reports 4 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.D(2) (another regulator's finding of a violation), 11.D(4) (another regulator's order in the past ten years), and 11.E(2) (self-regulatory organization's finding of a rule violation). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/160344"
    },
    {
      "q": "What changed in BMO Private Investment Counsel Inc.'s recent Form ADV filings?",
      "a": "In the April 2026 filing data: Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 26518952984.0,
      "total_employees": 117,
      "filing_date": "2021-04-14"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 34859287807.0,
      "total_employees": 118,
      "filing_date": "2022-02-28"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 29336770491.0,
      "total_employees": 128,
      "filing_date": "2023-09-07"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 30306529507.0,
      "total_employees": 132,
      "filing_date": "2024-09-13"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 35763511340.0,
      "total_employees": 130,
      "filing_date": "2025-01-28"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 40180083812.0,
      "total_employees": 130,
      "filing_date": "2026-03-23"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-02-01",
      "period_label": "February 2026",
      "notes": [
        "Employees performing advisory functions went from 120 to 130.",
        "Regulatory assets under management went from $35,763,511,340 to $40,180,083,812 (+12%).",
        "Registered or notice-filed in MI, NV.",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-01-01",
      "period_label": "January 2026",
      "notes": [
        "No longer registered or notice-filed in MI."
      ]
    },
    {
      "period": "2025-12-01",
      "period_label": "December 2025",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "BMO Trust Company",
      "name_as_filed": "BMO TRUST COMPANY",
      "affiliated": true
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/bmo-private-investment-counsel-inc-toronto-ontario-160344.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 18117,
      "fewer_than_5": false,
      "raum": 5877974106.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 8176,
      "fewer_than_5": false,
      "raum": 17410709967.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 39,
      "fewer_than_5": false,
      "raum": 228603478.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 3,
      "fewer_than_5": true,
      "raum": 108309757.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 14,
      "fewer_than_5": false,
      "raum": 111389945.0
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 4839,
      "fewer_than_5": false,
      "raum": 12417840577.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 1955,
      "fewer_than_5": false,
      "raum": 4025255982.0
    }
  ],
  "disclosure_line": "Reports 4 disclosure items on Form ADV Item 11.",
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/160344",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}