It was a night of milestones and ‘news flashes’ at the BMO Business Centre’s “Year of Celebration” event on Wednesday night. If you missed out, here’s some photos from the evening and a recap of our announcements:
In a very heartfelt speech on Wednesday evening, BMO Partner Peter McKinnon announced his intentions to retire as of 1 July 2016. Peter has deliberately made this announcement with a long lead time up to his retirement date. “It is very important to me that our team here at BMO and our clients have time to adjust to the idea over the next 10 months. It also gives my lovely wife Jenny time to adjust to the idea that she’s going to have me around a bit more by the end of next year!” Peter will be contacting his clients individually to discuss arrangements to transition them gradually to a new BMO Partner over the next ten months. Read Peter’s full speech here>
While BMO’s foundations date back to the 1950s, it was in 1990 that Peter McKinnon officially joined forces with Martin Browne and Martin Moynihan to form BMM, which has evolved over the years to become BMO as we know it today; from our humble beginnings in Archibald Street, to our purpose built building in Nicholson Street (that we never thought we’d outgrow!), to the our current home in Drayton Street.
As Partner Peter McKinnon said on the night “BMO may have grown and adapted over the years, but when it comes to the way a client is treated, we have always worked hard to remain the same: personal service, listening to you first, being with you every step of the way, it’s this approach that has helped BMO build the respect in the community.”
BMO is excited to announce that it has accepted an offer to merge with McPherson Financial Partners. McPhersons is a highly-respected boutique accounting practice based in Brisbane that we have had a long term association with. We consider it an honor that, out of all of the accounting practices in Queensland, McPhersons chose us as their business partner going forward.
We are NOT moving to Brisbane. Dalby is, and will continue to be, our home. For BMO, it means that we now have senior accountant and experienced business advisor Melissa Klingwort working from a home office in Brisbane servicing our Brisbane-based clients. Melissa will be adopting the BMO brand and using our systems and procedures. We are delighted to have her expertise on our team to provide support and advice to our existing client base and mentor our younger team members.
Having someone based in a satellite office is not an unusual practice for BMO. We actually already have team members working for BMO from home offices in various locations including Westmar, Miles and Norwin.
BMO Financial Solutions Partners Shane Lee and Mal Smith have announced plans to change licensee. From the day BMO first kicked off its financial planning arm back in 2002, we were determined that you as our client would be the centre of everything we do. We are always looking for ways to do things better for our clients.
McPhersons in Brisbane (mentioned in the article above) also have a highly respected and successful financial planning business called McPherson and Associates. After lengthy discussions and research over the past 12 months, we have decided to move away from our current corporate licensee (Charter) and work together with McPherson and Associates under their license. On the surface nothing will change, we will continue to operate exactly the way we do now, but behind the scenes we’ll have more scope and more flexibility to offer you products and services best suited to grow and protect your wealth.
Moving away from a corporate, allows us a less cumbersome decision making process, while still ensuring we are strictly adhering to the highest standards of financial planning policies and procedures. For our existing financial planning clients, please bare in mind that under our current licensee agreement, BMO is required to write to clients three times to advise them of the change (just in case you are wondering why you have received repeated correspondence from us about this). We are excited about this new mode of operation which will kick off from Oct 6.