BMO and FIS Partner to Provide Custody Platform for Farmers and Merchants

Investment services provider BMO Global Asset Management and financial technology provider FIS have partnered to provide a trust and custody platform for California-based Farmers and Merchants Trust.

The platform, developed by FIS and serviced by BMO, will provide fiduciary accounting and reporting, front-office administrative and management portals, automated compliance tools, real-time portfolio management, electronic bill payment, daily performance measurement, and real-time client and third-party web-based account access and transaction initiation.

“The combination of FIS and BMO Global Asset Management links the industry leading custody platform with a premiere trust outsourcing service provider. Together, their proven track record in product development and client service gives us the ability to focus on serving our current and future customers,” said Frank Tabar, vice president, strategic risk and operating officer, Farmers and Merchants Trust.

“For almost a century, Farmers and Merchants has provided clients throughout California with service excellence. Their commitment to their clients closely mirrors that of the relationship between BMO and FIS. Together, we will strive to provide best-in-class trust and custody solutions to multiple generations of clients throughout California,” said Wayne Klomstad, BMO’s director of trust outsourcing—trust and custody services.