BMO Family Office, LLC: Manager Rating and Record

Why BMO Family Office, LLC has three stars

BMO runs USD 10.0 billion of regulatory assets and has been registered with the SEC since 1999. The one matter in its Form ADV concerns another company in its group or an individual, not BMO Family Office itself. Its one rated insurance-dedicated fund has three stars. In that fund little or none of the assets were valued last year by a firm outside the group, and on its own that rules out five stars.

The rating looks only at the areas below, which matter to a family holding this manager's funds through a private placement policy. Past returns play no part: these funds do not report them in their SEC filings, and they say little about what a policy will earn.

Conduct and regulatory record

What regulators and courts have recorded against the manager, and for platform series against the platform, as the advisers report it to the SEC. Several proceedings on one set of facts count as one matter. Recent and serious matters count most, matters of other companies in the group count for less, matters of individuals are weighed by the person's role and their bearing on the business, and the size of the firm is taken into account.

Reported controls

What the adviser reports to the SEC for the fund: whether the accounts are audited every year by an accountant registered with the PCAOB and subject to its regular inspection, whether audited statements go to investors and what the audit opinion says, whether the administrator and custodian are outside the adviser's group, and what share of the assets was valued last year by a person not related to the adviser.

Depth and experience of the manager

The assets the manager runs, its investment staff and how long it has been registered with the SEC.

PPLI.comManager Rating

Investor experience. What policyholders, insurers and advisers tell us is shown separately and never changes the stars. A factual point they raise is checked against the filings, and if it holds, the data is corrected. We never publish names. Tell us about yours

The rating expresses the opinion of PPLI.com on the date shown. It is not a statement of fact about the fund or its manager, not a credit rating, not a forecast of returns and not investment advice. Read about the rating.

Registration and size

Identity

Legal nameBMO Family Office, LLC

SEC registrationRegistered investment adviser, 801-56868 IAPD

CRD number110264

Latest Form ADV28 January 2026 ADV

Registered with the SEC since20 October 1999

Assets and staff, as filed

Regulatory assets under managementUSD 9,990,000,000

Of which discretionaryUSD 9,824,000,000

Employees130

Of which investment advisory staff75

Private funds listed in Schedule D26

Regulatory assets are calculated under the SEC's Form ADV instructions and include all funds and accounts the adviser manages, not only those open to insurers. Figures come from the SEC's adviser files of November 2026.

Regulatory and legal record

What the adviser itself discloses in Item 11 of its Form ADV, summarised from the disclosure pages, with a link to the filing. Item 11 is filed for the adviser as a whole, so under each matter the fund it concerns is read from the disclosure itself.

20238 August 2023

Regulatory action by Commodity Futures Trading Commission: civil penalty

Fund concerned: none named in the filing. The matter concerns another company in the group, not a specific fund, and none of the insurance-dedicated funds in this file is named.

The U.S. Commodity future Trading Commission ("CFTC") alleged that, from at least 2019 through the date of the order, Bank of Montreal ("BMO") (I) failed to keep certain required records in violationof Sections 4s(f)(1)(c) and 4s(g)(1) and (3) of the Commodity Exchange Act ("CEA") and CFTC regulations 23.201(a) and 23.202(a)(1) and (b)(1), (II) failed to keep records in the manner required by CFTC Regulation 1.31, and (III) failed to supervise its swap dealer business activities diligently inviolation of Section 4s(h)(1)(b) of the CEA and CFTC Regulation 23.602(a).

Commodity Futures Trading Commission · Order 8 August 2023 · USD 35.0 million · Concerns another company in the group · Form ADV, Item 11 disclosure

These are the matters BMO Family Office, LLC reports in Item 11 of its Form ADV, filed 28 January 2026. A reported matter is a fact disclosed by the adviser, not a finding by PPLI.com. None of them concerns the insurance-dedicated funds listed above.

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BMO Family Office, LLC

Insurance-dedicated funds managed by BMO

Why BMO Family Office, LLC has three stars

Conduct and regulatory record

Reported controls

Depth and experience of the manager

Registration and size

Identity

Assets and staff, as filed

Regulatory and legal record

Regulatory action by Commodity Futures Trading Commission: civil penalty

How would you rate BMO Family Office, LLC?

Sources

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