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As competition heats up among discount brokerages, BMO has changed certain features of its advice offering for investors using its online brokerage — a bid to attract younger, less affluent investors.

BMO InvestorLine’s most recent updates to adviceDirect include lowering the minimum balance to $10,000 from $50,000 and giving 15 free trades per year to clients with assets between $10,000 and $50,000, the bank said in a release on Wednesday.

Also, the $750 minimum annual fee was eliminated; investors will now pay 0.75% of assets, to a maximum annual advisory fee of $3,750. For example, a $10,000 account would be charged $75 annually.

“AdviceDirect is a unique investing solution that combines the convenience of digital investing with personalized in-platform advice and access to advisor support,” said Silvio Stroescu, head of InvestorLine with BMO Financial Group, in the release.

“While many investors already benefit from this hybrid approach, we lowered the threshold for entry to empower new and younger investors to take their first steps into investing and use the personalized advice offered to make even smarter decisions.”

The changes follow adviceDirect updates made earlier this year, including the addition of portfolio management resources.