man using mobile phone

Toronto-based BMO InvestorLine is bringing dedicated digital advice to high net-worth clients.

The discount brokerage announced on Tuesday the launch of adviceDirect Premium. The new offering is for adviceDirect clients with $500,000 or more in investable assets.

adviceDirect is a hybrid digital wealth management and discount brokerage platform that monitors and automatically rebalances clients’ portfolios and makes recommendations based on risk tolerance — but clients are ultimately in charge of their portfolios and make all investment decisions.

“The demand for digital advice has increased significantly in recent years and the momentum continues to build,” said Silvio Stroescu, head, InvestorLine, BMO Financial Group, in a release. “This is a great opportunity for innovation by building on our extensive experience with digital investing solutions and personalized advice to create new value networks for Canadian investors.”

Through the new premium platform, clients will be paired with a dedicated adviceDirect advisor and have access to wealth planning professionals, as well as research and articles from BMO Capital Markets, MorningStar and MarketGrader.

adviceDirect and adviceDirect Premium have a maximum annual fee of $3,750 for accounts with assets of $500,000 or more.