BMO Surpasses $1 Billion in RDSP Assets Under Management
- BMO renews partnership with the Plan Institute to promote RDSP education - Deadline for 2016 tax year RDSP contributions December 31, 2016
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 12/20/16 -- BMO Financial Group today announced that it has surpassed $1 billion in assets under management for customers holding Registered Disability Savings Plan (RDSP) accounts.
At the same time, BMO announced a renewed partnership with the Plan Institute - a not-for-profit organization committed to ensuring the safety, security and well-being of those living with disabilities - to support the growth of the RDSP across the country. Under the agreement, BMO will distribute Plan Institute educational materials on the RDSP, while the organization will assist eligible individuals with opening RDSP accounts at BMO.
"As the first Canadian bank to offer this innovative product in 2008, we are proud to have reached this milestone - demonstrating our continued market leadership for this important segment," said Trevor Philp, Senior Manager, Registered Products and Managed Solutions, BMO Global Asset Management. "An RDSP can play a critical role in helping reduce the financial strain on individuals and families, given the significant savings a beneficiary can accumulate through the Canada Disability Savings Grant (CDSG) and the Canada Disability Savings Bond (CDSB), as well as the impact of tax-deferred investment growth."
Mr. Philip added, "With the renewal of our partnership with the Plan Institute, we hope to continue to build awareness of the RDSP, and help support the needs of individuals with disabilities in communities across Canada."
In Canada, those living with a disability can benefit from access to the RDSP - a savings vehicle that helps families manage the financial costs associated with having someone, or caring for someone, with a severe and prolonged disability. It is available to Canadians who are eligible for the Disability Tax Credit, and can provide peace of mind to parents and other contributors who may put a plan in place for a beneficiary with a disability.
For more information on investing in an RDSP, visit bmo.com/rdsp. The RDSP contribution deadline for the 2016 tax year is December 31, 2016.
BMO also recognized the early initiatives by the Government of British Columbia, both to educate eligible investors about the benefits of the RDSP and to help those who would benefit from the program become investors in it. "B.C. has taken great strides in supporting the RDSP, following the recommendations of its RDSP Action Group," noted Mr. Philp. "We would encourage other provinces to consider the best practices of the B.C. model to help make the RDSP more accessible to Canadians."
About the RDSP
The RDSP encourages families and individuals to save for the long-term financial security of persons with severe and prolonged disabilities. It is available to Canadians who are eligible for the Disability Tax Credit, and can provide "peace of mind" to parents and other contributors who may put a plan in place for a beneficiary with a disability.
About BMO Financial Group
Established in 1817, and currently marking its 200th year of operations, BMO Financial Group is a highly diversified financial services provider based in North America. With total assets of $688 billion as of October 31, 2016, and more than 45,000 employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, Wealth Management and BMO Capital Markets.
Contacts:
Media Contacts:
Catherine Litwinski, Toronto
416-867-3996
Valerie Doucet, Montreal
514-877-8224
Web:
Twitter: (at)BMOmedia
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 20.12.2016 - 07:00 Uhr
Sprache: Deutsch
News-ID 1476807
Anzahl Zeichen: 2617
contact information:
Contact person:
Town:
TORONTO, ONTARIO
Phone:
Kategorie:
Commercial & Investment Banking
Typ of Press Release:
type of sending:
Date of sending:
Anmerkungen:
Diese Pressemitteilung wurde bisher 296 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"BMO Surpasses $1 Billion in RDSP Assets Under Management
"
steht unter der journalistisch-redaktionellen Verantwortung von
BMO Financial Group (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
