BMO Harris Private Banking is introducing enCircle EXEC, a comprehensive, all-in-one service that manages the financial affairs of busy professionals and provides access to professional assistance through concierge and lifestyle services that assist with time-consuming daily life chores, from transferring money to children at university to sourcing medical and health information.

“enCircle EXEC is designed to simplify our clients’ lives and make it easy for busy executives to cope with the sometimes overwhelming number of details in their lives so that they can focus on other priorities, such as caring for aging parents or freeing up leisure time,” says Jean Blacklock, vice president, BMO Harris Private Banking. “enCircle EXEC offers a peace-of-mind service for busy professionals.”

Before it was launched, BMO tested enCircle EXEC’s appeal in a series of focus groups. “Executives loved the concept,” says Blacklock.

“We heard, clearly — from time-starved, busy executives, entrepreneurs, accountants and lawyers — that if we could bundle a package of services that incorporates the comprehensive services traditionally expected from a full service private bank with access to a suite of non-banking lifestyle services, we’d have a solution that they would embrace. So we did just that,” says Blacklock.

“We built enCircle EXEC to meet the needs of 40-55-year-old executives, professionals, and business owners who are trying to both care for children and aging parents, and who simply don’t have the time to manage their personal day-to-day affairs as closely as they’d like to,” said Blacklock.

According to the State of the Baby Boomer study conducted by the Strategic Counsel for BMO Financial Group, 60% of Canadian baby boomers with children aged 18 and over are providing some kind of financial support to their kids. Adding to the pressure, 25% of those boomers whose parents are still alive have one or more elderly parents that need their assistance on a regular basis. Together, baby boomers control 45% of wealth in Canada; their residences are worth in excess of $230 billion and their net worth is more than $530 billion.

enCircle EXEC is being introduced following the success of BMO Harris Private Banking’s enCircle service for seniors, which offers retirees services to manage bill payment and investments, tax preparation, facilitation of travel and medical insurance, a place to start to locate home and health-care assistance, as well as estate and trust planning.

BMO Harris Private Banking, a member of BMO Financial Group, offers integrated wealth management solutions to high net-worth individuals and families. Through the firm’s sister company, Harris Private Bank, which has branches in a number of U.S. states, BMO Harris Private Banking can also extend personalized financial services to Canadian clients who visit, travel or conduct business in the U.S.