Single-stock ETFs: Approach with caution
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Use this MoneySense Robo-Advisor Finder to find the best robo-advisor in Canada for your financial needs.
If you’re not familiar with the term, a robo-advisor is simply an online investing tool that builds an investment portfolio based on your risk tolerance, financial goals and personal financial situation. If you’re looking to begin investing but not sure where to start and have a limited knowledge of the market, a robo-advisor may be a good option for you. Use our robo-advisor comparison table below to filter robo-advisor providers by fees, investment amounts, investment approach and brand name.
Best Robo-Advisors in Canada 2020
| Robo Advisor | Fees | Investment Approach | Minimum Account |
|---|---|---|---|
| BMO SmartFolio | 0.4% to 0.7% | Match with one of five custom portfolios containing baskets of BMO ETFs | $1,000 |
| CI Direct Investing | 0.35% to 0.6% for ETF portfolios | 5 low-cost ETF portfolios by risk tolerance; also non-traditional private-investment portfolios | $1,000 |
| Invisor | 0.50% | 7 managed portfolios holding passive ETFs by risk tolerance; allocation aligns with global market weightings | None (deposits will be held in cash until account reaches $1,000) |
| Justwealth | $4.99/mo for accounts up to approx. $12,000, then 0.4% to 0.5% | More than 70 portfolios, including US$ denominated; mix of ETF providers; offers tax-loss harvesting | $5,000 (none for RESP accounts) |
| NestWealth | $20 to $80/mo | Allocated across six asset classes of industry-standard ETFs by risk tolerance | None |
| Questwealth Portfolios* | 0.2% to 0.25% | 5 core and 5 SRI ETF portfolios, managed in a passive-active hybrid style; extensive account type offering | $1,000 |
| RBC InvestEase | 0.5% management fee; approx. 0.11% to 0.30% MER for ETFs | 10 portfolios, created from 14 different ETFs | $100 |
| Wealthsimple | 0.4% to 0.5% | Variety of ETFs; socially responsible investment portfolio focussed on cleantech, low carbon | None |
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