Canada’s Top Wealth Advisors 2023: Karen Chalovich

Senior Investment Advisor, Portfolio Manager and Financial Planner, BA, CIM, FCSI, CPCA

BMO Nesbitt Burns

76 King Street West, Cobourg, ON K9A 2M3

Team Assets (Custodied)

$148-million

Typical Size of Household Accounts

$500,000 -
$5-million

Minimum Account Size for New Business

$500,000

Typical Net-Worth of Relationships

$1-million -
$5-million

Celebrating 40 years in the industry, Karen Chalovich leads the Karen Chalovich Investment Group. She provides individuals, families, institutions and trusts with informed financial advice and high-quality investments to build and preserve their wealth. Karen’s strongest attributes are her personal service, attention to detail and organization, diligent follow-up, and a focus on helping seniors and intergenerational family members.

Karen takes a team approach. To offer timely, relevant portfolio management, she relies on BMO Nesbitt Burns’ industry-leading Fixed Income, Equity Research and Managed Assets groups. They provides access to world-class managers. She also uses retirement, estate, trust and insurance planning to help clients achieve their goals. Philanthropic planning is a major focus – Karen has facilitated $14 million in appreciated stock donations to charitable causes.

To help clients mitigate tax, Karen keeps up on changing tax rules and works closely with clients’ lawyers and accountants, as well as with the BMO Private Wealth tax planning team. Karen deploys income splitting, tax-efficient portfolios, tax-deferred savings through RRSPs and TFSAs, donations of appreciated securities, and tax-efficient estate and education planning.

Karen began her career in 1982 at her mother’s investment firm – Gardiner Investment Service. She moved to Midland Doherty in 1983, then opened the RBC Dominion Securities/Pitfield Mackay Ross Cobourg office in 1984. She worked there for nine years before opening the BMO Nesbitt Burns Cobourg office in 1993. She has worked for BMO for 30 years.

Karen has a Bachelor of Arts in Finance and Social Science from Western University. She holds the Chartered Investment Manager (CIM®), Fellow of the Canadian Securities Institute (FCSI®) and Certified Professional Consultant on Aging (CPCA) designations.

Inspired by her mother, Joan, a former mayor of Cobourg, Karen has provided leadership in her community. She has helped facilitate over $9 million in appreciated stock donations for the Northumberland Hills Hospital Foundation. Karen has served as chair of the Civic Awards Committee for the Town of Cobourg, was a member of the fundraising campaign for the Cornerstone Family Violence Prevention Centre, and was a director and president of the Northumberland Central Chamber of Commerce.

Karen’s family is the centre of her life, between her son Forrest (a Financial Advisor with Scotiabank), her brother Brian’s family and caring for her mother. Karen loves travel, photography and playing flute in the Northumberland New Ventures Band.

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