Compare the best robo-advisors in Canada 2020

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

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

If you’d like to learn more about each robo-advisor in individual detail, check out our Guide to the Best Robo-Advisors in Canada.

What does the * mean?

If a link has an asterisk (*) at the end of it, that means it's an affiliate link and can sometimes result in a payment to MoneySense (owned by Ratehub Inc.) which helps our website stay free to our users. It's important to note that our editorial content will never be impacted by these links. We are committed to looking at all available products in the market, and where a product ranks in our article or whether or not it's included in the first place is never driven by compensation. For more details read our MoneySense Monetization policy .