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To increase the competitiveness of its robo-advisor offering, BMO recently decreased its minimum investment account size from $5,000 to $1,000. While these are relatively low minimums compared to traditional investment advisor services, this demonstrates the proliferation of new, often Millennial-generation investors who are increasingly looking to these alternative platforms. This trend also uncovers the need for scalable, low-cost operating models to serve a demographic with a lower amount of capital to invest.

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