BMO Financial Group has launched a new registered disability savings plan (RDSP) directly to investment advisors through BMO guardian funds, in Canada.
Investors can now open a BMO guardian RDSP directly through their investment advisor. The full line-up of BMO guardian funds, including a range of investment solutions that are suitable for long-term investors, are available for purchase within the RDSP.
In addition, contributions to an RDSP may qualify for payments from the Canada Disability Savings Grant program to a lifetime maximum of CAD70,000 per beneficiary. Lower-income families may qualify for payments from the Canada Disability Savings Bond program without having to make a contribution to an RDSP, up to a lifetime maximum of CAD20,000.
Ross Kappele, co-president of BMO Investments, said: “BMO was the first to offer the RDSP nearly a year ago, and we are very pleased to be the first major Canadian financial institution to offer the RDSP to the broader investment advisor community. The BMO Guardian RDSP gives advisors direct access to the program along with full sales and educational support, helping them to better and more holistically serve clients and families of individuals with a disability.”
