TORONTO, ONTARIO--(Marketwire - Jan. 16, 2012) - This Registered Retirement Savings Plan (RRSP) season, BMO InvestorLine suggests that Canadians consider consolidating their investment accounts under one roof to simplify their finances.
"With RRSP season upon us, it's an ideal time for Canadians to consider taking a simple, unified approach to their investments and the manner in which they're managed," said Connie Stefankiewicz, President and CEO, BMO InvestorLine. "By consolidating investment accounts, not only are you cutting down on administrative clutter, but you also save time and money."
BMO InvestorLine's Connie Stefankiewicz lists the top six benefits of consolidating investment accounts:
Save Money
Many financial institutions will offer special promotions to their customers if they consolidate all of their investment accounts with that specific institution. For example, BMO InvestorLine offers Flat Fee Pricing on all investment trades if you combine your assets, helping to minimize trading costs.
Get a Clearer Picture of Your Wealth
Pooling your assets can provide a complete picture of your cash, fixed income and equity holdings, providing greater insight into your true diversification and ensuring you are not too heavily weighted in one sector. Consolidation can also help in setting investment objectives and effectively managing risk.
Save Time
Managing your investments in one place is convenient and can save you valuable time without having to worry about multiple log-ins, passwords and websites.
Simplify Your Life
Dealing with the paperwork from different financial institutions can be daunting for even the most experienced investor. Combining your investment accounts eliminates multiple statements and confirmation notices - along with the unnecessary worries of keeping track of which account is with which financial institution.
Reduce Stress Come Tax Season
Consolidating your non-registered investment accounts will reduce the number of tax forms you receive, making tax time less stressful.
Make the Estate Settlement Process Easier
Having fewer documents to administer when it comes time to settle your estate will make it much easier for your family and the investment professionals who are handling your estate.
About BMO InvestorLine
BMO InvestorLine is a leading online investing service which provides self-directed investors with efficient trade execution for a wide range of investments, including stocks, options, bonds, GICs and mutual funds. Clients have access to trading, quotes and account information 24 hours a day through a website or Automated Telephone Trading. BMO InvestorLine also provides users with third party research, along with leading edge tools that are informative and easy to use. As an all-in-one investment source, it is a constantly evolving, cost-efficient platform that is fully compatible with tablets. Visit BMO InvestorLine at www.bmoinvestorline.com.