Investing
Best Robo-Advisors in Canada
6 Canadian robo-advisors compared by what the management fee costs on $10,000, $50,000 and $100,000. Lowest fee: Questwealth Portfolios at 0.25%.
What is the best robo-advisor in Canada?
Questwealth Portfolios (0.25%; 0.20% from $100,000) leads, followed by Wealthsimple Managed Investing (0.50% (Core)) and RBC InvestEase.
| Robo-advisor | Score | $10,000 | $50,000 | $100,000 | Minimum |
|---|---|---|---|---|---|
| TopQuestwealth Portfolios | 75/100 | $25 | $125 | $200 | $250 |
| Wealthsimple Managed Investing | 70/100 | $50 | $250 | $400 | $0 |
| RBC InvestEase | 57/100 | $50 | $250 | $500 | $100 |
| Justwealth | 50/100 | $60 | $250 | $500 | $5,000 |
| BMO SmartFolio | 42/100 | $70 | $350 | $700 | $1,000 |
| CI Direct Investing | 41/100 | $60 | $300 | $600 | — |
Management fees are before sales tax. Fund MERs are charged inside the ETFs on top.
Put it into practiceAll robo-advisorsHow much does a robo-advisor cost?
Management fees range from 0.25% to 0.7% a year on $50,000, plus fund MERs of roughly 0.1%–0.35%. A typical Canadian mutual fund charges about 2%.
Is a robo-advisor better than investing yourself?
A robo-advisor picks, buys and rebalances a diversified ETF portfolio for you. Doing it yourself with an all-in-one ETF at a $0-commission broker avoids the management fee — about $125 to $350 a year on $50,000 — but you have to buy, rebalance and stay the course on your own.
Is my money safe with a robo-advisor?
Robo-advisors hold your investments at a CIPF-covered custodian, protecting up to $1 million per account category if the firm fails. Market losses are not covered.
Official sources and further reading
Terms vary by product. Confirm the provider’s current terms before acting. This guide does not predict approval, realized value or credit-score changes. How WalletReturn calculates value