BMO and Link Launch Innovative Workplace Savings Platform
Toronto, Tuesday, 15 April 2025.
BMO and Link Investment Management have unveiled a digital savings platform, allowing employees to invest in ETFs through employer-sponsored plans, marking a first for Canadian banks.
Introduction to the BMO-LINK Platform
In an industry-first for Canadian financial institutions, Bank of Montreal (BMO) has partnered with Link Investment Management Inc. (LINK) to launch the BMO-LINK Workplace Savings Platform. This pioneering digital savings platform enables employees to invest in BMO Exchange-Traded Funds (ETFs) through various employer-sponsored group plans such as Registered Retirement Savings Plans (RRSPs), Tax-Free Savings Accounts (TFSAs), and Deferred Profit-Sharing Plans (DPSPs) [1][2][3].
Details of the Platform’s Launch
The BMO-LINK Workplace Savings Platform was officially launched on 30 April 2023. The comprehensive digital tool is designed to streamline the process of managing savings and retirement plans for businesses of all sizes, offering a simplified, intuitive online enrollment process that tailors investment recommendations to individual employee needs [2][3]. Trevor Philp, Managing Director, Head of Group Investment Plans at BMO Global Asset Management, highlighted the platform’s capacity to significantly assist businesses in supporting their employees’ financial goals [3].
Strategic Partnership and Future Outlook
BMO’s strategic minority stake acquisition in LINK in May 2023 underscores the financial institution’s commitment to enhancing its digital offerings in workplace savings and retirement solutions. This collaboration is expected to drive further digital transformation within the sector, aiming to provide a sustainable and inclusive financial ecosystem for Canadian employees [2][4]. Brian McClennon, CEO and Co-Founder of LINK, emphasized this partnership’s role in enhancing LINK’s technology to offer superior B2B SaaS solutions that aid in employee retention and talent acquisition [3][4].
Implications for Employers and Employees
The platform’s introduction marks a significant shift in how Canadian employers can engage with their employees’ financial planning needs. By facilitating access to diversified investment opportunities via BMO ETFs, the platform not only simplifies administrative tasks for employers but also empowers employees with enhanced financial literacy and savings capabilities. With reports and updates accessible through an online employer portal, companies can seamlessly integrate this tool into existing benefits packages, potentially attracting a broader talent pool [1][2].