Hilly Cutler is Director, Portfolio Consulting and Senior Portfolio Consultant at BMO Global Asset Management (GAM). Leveraging over 25 years of industry experience, he is responsible for supporting investment advisors by helping them develop customized portfolio solutions primarily through asset allocation and risk analysis across a variety of asset classes and product structures. His experience using both active and passive mandates brings valuable insight and perspective in the areas of asset allocation and portfolio construction. Prior to joining BMO GAM in 2025, Hilly spent over a decade and a half with Franklin Templeton Canada, Vanguard Canada and Mackenzie Investments in similar senior roles, supporting portfolio consulting efforts across Canada and product management. He began his investment career in 1998 at Invesco Canada. Mr. Cutler earned his Bachelor of Commerce degree with a major in Finance and a minor in Accounting from Concordia University and his Master of Business Administration from Drexel LeBow University. He is a Chartered Financial Analyst (CFA) and Chartered Alternative Investment Analyst (CAIA) charterholder. Hilly has also completed the Canadian Securities Course (CSC) and has received the following designations from the Canadian Securities Institute (CSI): Fellow of CSI (FCSI), Chartered Investment Manager (CIM) and Derivatives Market Specialist (DMS).
Understanding how ETF liquidity works can help investors and Advisors execute trades more efficiently, avoid common pitfalls and deliver better outcomes for clients. Below, we debunk myths on true liquidity and share best practices — from spreads and execution timing to block trades and price deviations.