However a robo-advisor received’t depart you alone to fend for your self both; they are going to place your financial savings in a typically low-cost, portfolio matched to your circumstances and wishes. They usually’ll be there ought to it’s worthwhile to change course.
Made attainable by monetary know-how and the proliferation of their foremost funding car, exchange-traded funds (ETFs)robo-advisors have been round for greater than a decade in Canada. As of late there are 9 suppliers out there coast to coast. As you’ll discover under, some have settled into particular niches, whereas others proceed to actively prospect for brand spanking new prospects, each from rival robos and from banks and mutual fund gross sales representatives. They differ within the investments they carry, the charges they cost and the best way they cost them, the extent of customized service they supply, and their observe report of efficiency.
Robo-advisors’ prices, together with their very own portfolio administration charges and the administration expense ratios (MERs) of the funds they use, vary from about 0.5% to 1% of belongings beneath administration per yr (some socially accountable and private-asset portfolios might value extra). Your returns most likely received’t shoot out the lights, however they’ll be aggressive with the options.
We must always be aware that, since 2019, there was one other, even lower-cost possibility for traders to acquire algorithm-assisted portfolio administration in Canada: the all-in-one, globally diversified, asset allocation ETF. What robo-advisors supply that these ETFs don’t is recommendation. They may steer you towards the fitting portfolio in your wants and make modifications as your wants change. The selection of what asset-allocation ETF to purchase and whether or not to keep it up, in contrast, is all on you.
Associated studying: Finest all-in-one ETFs
A robo-advisor is an appropriate, modestly priced answer for individuals who don’t really feel comfy investing on their very own. And even if you happen to do know a factor or two about investing, a robo can prevent a number of time tinkering along with your portfolio. Simply set it and overlook it.
With this, the 2026 version of MoneySense’s robo-advisors information, we’ve sifted by all of the choices out there to Canadians within the hope of serving to you discover one of the best supplier in your scenario.
What to know when assessing robo-advisors
- Suppliers scale their charges based mostly on the dimensions of your accounts with them. Bigger prospects are normally charged decrease portfolio administration charges expressed as a proportion of belongings. Evaluate the extent of charges you’ll be charged at potential suppliers based mostly particularly in your account measurement, now and within the foreseeable future.
- Now we have offered a snapshot of comparative efficiency in our desk, however it solely represents one kind of portfolio: a balanced portfolio consisting of roughly 60% equities and 40% mounted earnings. Take a look at the efficiency of the suppliers’ different portfolio varieties, particularly these you’re doubtless to make use of (conservative, development, earnings, accountable, and many others.). If the robo-advisor you’re contemplating doesn’t publish historic efficiency knowledge on its web site, ask for it.
- Suppliers supply non permanent promotions sometimes, particularly throughout RRSP season, corresponding to a money bonus credited to your account once you switch it from one other establishment. Usually these cash-back gives find yourself merely compensating for switch charges charged by the establishment you’re leaving, although the federal authorities is readying laws that goals to eradicate switch charges. Whereas it’s enjoyable to see free cash pop up in your account, it received’t a lot have an effect on your life financial savings over the lengthy haul.
Why belief us
MoneySense is an award-winning journal, serving to Canadians navigate cash issues since 1999. Our editorial staff of skilled journalists works carefully with main private finance specialists in Canada. That will help you discover one of the best monetary merchandise, we evaluate the choices of main establishments, together with banks, credit score unions and card issuers. Be taught extra about our promoting and trusted companions.
The most effective 3 robo-advisors in Canada
These three suppliers supply one of the best stability of options and modest prices for retail traders.
Finest total (Gold): Justwealth
Finest for: Buyers with substantial sums to take a position, a number of accounts, and complicated wants (the minimal account measurement in most conditions is $5,000); traders looking for extra customized service.
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Justwealth is only a robo-advisor. That’s all it does, which, relying in your perspective, could also be a plus or a minus. The upside is obvious within the efficiency of its portfolios. As a result of Justwealth is free to utilize the best-performing ETFs whatever the fund firm, it tends to have one of the best or near-best returns in virtually each portfolio class over varied intervals. Rival robos, in contrast, are sometimes tied to sure fund households by their mum or dad firms or business partnerships.
Justwealth additionally assigns purchasers a devoted advisor to take care of as an alternative of an nameless assist desk. And it has by far the widest vary of portfolio varieties—greater than 80 of them. Want an account timed to your anticipated retirement date in 2040? Justwealth has it. Want a first house financial savings account? They’ve acquired it. Need the choice of switching portfolios as your wants change? You are able to do that, too.
What Justwealth can’t supply is different monetary companies corresponding to banking or brokerage companies. It doesn’t have a sideline in crypto buying and selling or tax preparation. But when all you need is low-cost, automated portfolio administration, Justwealth is tough to beat.
Finest Total (Silver): Wealthsimple
Finest for: Buyers open to different investing and monetary companies, from cryptocurrency to bodily gold holdings to private strains of credit score.
Wealthsimple began out as a robo-advisor—Canada’s first, in 2014—however has since branched out into nearly each side of non-public monetary companies. Certainly, it’s mounting a problem to the nation’s infamous banking oligopoly. In the event you open a managed investing account (as Wealthsimple now calls its robo-advisor service), anticipate pitches for lots of different companies too. For instance, it just lately launched direct indexing, a buzzy technique for holding particular person shares as an alternative of index ETFs.
Along with fundamental index ETF portfolios, Wealthsimple now gives its managed investing purchasers the Summit Portfolio, which mixes ETFs with non-public belongings for larger diversification, and entry to a non-public infrastructure fund (anticipate greater charges for these). It additionally launched earnings portfolios designed to pay out a stream of money each month, helpful in a registered retirement earnings fund (RRIF).
And since our final survey, the corporate has added full-service wealth planning at a price beginning at 0.9% of belongings beneath administration per yr, which incorporates portfolio administration charges. Lengthy an underperformer with respect to its portfolio returns, Wealthsimple has been aggressive with its robo rivals in recent times.
Finest Total (Bronze): Questwealth
Finest for: Frugal traders intent on paying the bottom charges; traders who additionally wish to dabble in self-directed investing with a (largely) commission-free brokerage account.
