BMO Harris Private Banking has announced the launch of a wealth management service designed specifically for affluent Canadians in their sen...

BMO Harris Private Banking has announced the launch of a wealth management service designed specifically for affluent Canadians in their senior years. Called "enCircle", the service is designed to lessens the burden of financial management both on seniors and their adult children. The enCircle advisor works with the client and their families to tailor a plan that meets their specific banking and investment needs, including the payment of bills, investment management, estate planning and the co-ordination of filing of tax returns, says BMO Harris. "The 32 per cent of Canadians with $1 million or more in investable assets who are over the age of 70 are a diverse group, but they all want to manage their quality of life as well as their wealth," said Jean Blacklock, vice president, personal trust services, BMO Harris Private Banking, in a statement. BMO Harris Private Banking says that it has also established the enCircle Advisory Council made up of some of experts in geriatrics and elder care. By leveraging this expertise, enCircle hopes to provide seniors and their families with the critical healthcare resources and knowledge they need to help secure their lifestyles. According to recent Statistics Canada data, 570,000 employed Canadians between 45 and 64 are caring for both children and ageing parents and 70 per cent of boomers expect to care for an older family member in the near future.