What is the best robo-advisor in Canada?

Wealthsimple Invest is the most popular with an excellent app and no minimum. Questwealth has the lowest fees at 0.25%. CI Direct Investing offers socially responsible options. The best choice depends on your needs.

Are robo-advisors worth it in Canada?

Yes for hands-off investors. They charge 0.25-0.50% vs 2%+ for traditional advisors. They provide automatic rebalancing, portfolio management, and require no investment knowledge. DIY investors can pay less with ETFs directly.

What is the minimum to invest with a robo-advisor?

Wealthsimple Invest and CI Direct have no minimum. Questwealth requires $1,000. Most robo-advisors have low or no minimums, making them accessible to beginners.

How much do robo-advisors cost in Canada?

Management fees range from 0.25% (Questwealth) to 0.50% (Wealthsimple standard tier). On top of that, underlying ETF MERs add 0.15–0.25%, bringing all-in costs to 0.40–0.75%. Compare that to 2.0–2.5% for bank mutual funds — on a $100K portfolio that saves you $1,250–$2,000 per year.

Should I use a robo-advisor or buy ETFs myself?

If you prefer truly hands-off investing and do not want to place trades, a robo-advisor is perfect. If you are comfortable buying one all-in-one ETF like XEQT or VGRO yourself, DIY saves 0.25–0.50% per year in management fees. On a $200K portfolio that is $500–$1,000 annually. Many investors start with a robo-advisor and switch to DIY once they gain confidence.

5 Best Robo-Advisors in Canada 2026: Fees From 0.25% — Full Comparison

Robo-advisors are the best solution for Canadians who want professional portfolio management without paying the 2%+ fees charged by traditional advisors. You answer a risk questionnaire, deposit money, and the platform builds, rebalances, and manages a diversified ETF portfolio automatically. Wealthsimple Invest is the most popular (best app, no minimum, SRI option), while Questwealth charges almost half the fee at 0.25%. The all-in cost of 0.45–0.70% is a fraction of what mutual fund investors pay — and over 20 years on $100,000, that fee difference translates to $20,000–40,000 more in your account. If you are still learning the DIY side of the same decision, start with our ETFs and index funds hub.

What is a Robo-Advisor?

The basic tradeoff is convenience versus cost. We break that down in robo-advisor vs ETF portfolio.

How It Works

Step	Details
1. Answer questions	Risk tolerance, goals, timeline
2. Get portfolio	Assigned based on your profile
3. Deposit money	One-time and/or recurring
4. Automatic management	Rebalancing, dividends reinvested

Who Should Use One

Good For	Not Ideal For
Hands-off investors	Active traders
Beginners	Very large portfolios
Small to mid accounts	Want specific stocks
Busy people	Fee-sensitive DIY

Best Robo-Advisors Compared

Quick Comparison

Robo-Advisor	Fee	Minimum	Best For
Wealthsimple Invest	0.50%/0.40%	$0	Most people
Questwealth	0.25%	$1,000	Lowest fees
CI Direct Investing	0.35%	$0	SRI options
BMO SmartFolio	0.70%/0.40%	$1,000	BMO customers
RBC InvestEase	0.50%	$100	RBC customers

Wealthsimple Invest

Overview

Feature	Details
Management fee	0.50% (under $100K)
	0.40% ($100K+)
Minimum	$0
Accounts	TFSA, RRSP, FHSA, RESP, Non-reg
App rating	★★★★★

Features

Feature	Included
Automatic rebalancing	Yes
Tax-loss harvesting	Yes (at higher tiers)
Dividend reinvesting	Yes
Round-ups	Yes
SRI portfolio	Yes

Pros & Cons

Pros	Cons
No minimum	Higher fee than Questwealth
Best mobile app	0.50% adds up on large accounts
Many features
SRI options

Best for: Beginners, anyone wanting best user experience.

Questwealth Portfolios

Overview

Feature	Details
Management fee	0.25%
Minimum	$1,000
Accounts	TFSA, RRSP, RESP, Non-reg
Parent company	Questrade

Features

Feature	Included
Automatic rebalancing	Yes
Tax-loss harvesting	No
Dividend reinvesting	Yes
Portfolios	5 risk levels
SRI portfolio	Yes

Pros & Cons

Pros	Cons
Lowest fee	$1,000 minimum
Good portfolios	App not as polished
Questrade ecosystem	Fewer features

Best for: Fee-conscious investors with $1,000+.

CI Direct Investing

Overview

Feature	Details
Management fee	0.35%-0.60%
Minimum	$0
Accounts	TFSA, RRSP, RESP, Non-reg
Formerly	WealthBar

Features

Feature	Included
Automatic rebalancing	Yes
Human advisors	Yes
Tax-loss harvesting	Yes
Financial planning	Yes

Best for: Want some human advice with robo convenience.

BMO SmartFolio

Overview

Feature	Details
Management fee	0.70% (under $100K)
	0.40% ($100K+)
Minimum	$1,000
Accounts	TFSA, RRSP, RESP, Non-reg

Pros & Cons

Pros	Cons
BMO integration	Higher fees
Big bank backing	Less competitive
Easy for BMO customers

Best for: BMO customers wanting to stay with BMO.

RBC InvestEase

Overview

Feature	Details
Management fee	0.50%
Minimum	$100
Accounts	TFSA, RRSP, Non-reg
Uses	iShares ETFs

Best for: RBC customers, low $100 minimum.

Fee Comparison Deep Dive

For a balance-by-balance cost table, see our full robo-advisor fees comparison.

All-In Cost (Management + ETF Fees)

Robo-Advisor	Mgmt Fee	ETF Fee	Total
Questwealth	0.25%	~0.20%	~0.45%
CI Direct	0.35%	~0.20%	~0.55%
Wealthsimple	0.50%	~0.20%	~0.70%
BMO SmartFolio	0.70%	~0.20%	~0.90%

Impact on $100,000 Over 20 Years

Total Fee	Ending Balance
0.45%	~$318,000
0.55%	~$310,000
0.70%	~$297,000
0.90%	~$280,000

At 7% return before fees

Robo-Advisor vs DIY

The honest answer is that a disciplined DIY investor buying XEQT or VEQT will always pay less than a robo-advisor. But “disciplined” is doing a lot of work in that sentence. A robo-advisor removes the temptation to panic-sell during market drops, ensures you’re rebalanced automatically, and handles tax-loss harvesting. If the 0.25–0.50% management fee keeps you invested during a 30% market crash that you’d otherwise have sold through, the robo-advisor paid for itself many times over. If you want the simplest DIY alternative, compare these platforms with our best all-in-one ETFs in Canada.

Cost Comparison

Approach	Annual Cost on $50K
DIY (ETFs)	~$100 (0.20% MER)
Questwealth	~$225 (0.45% total)
Wealthsimple	~$350 (0.70% total)
Financial advisor	~$1,000+ (2%+)

When Robo Makes Sense

Choose Robo If	Choose DIY If
Want hands-off	Willing to learn
Value convenience	Want lowest fees
New to investing	Larger portfolio
Busy lifestyle	Enjoy managing

Portfolio Types

Standard Portfolios

Risk Level	Stocks	Bonds
Conservative	20-40%	60-80%
Balanced	50-60%	40-50%
Growth	70-80%	20-30%
Aggressive	90-100%	0-10%

Socially Responsible (SRI)

Provider	SRI Option
Wealthsimple	Yes
Questwealth	Yes
CI Direct	Yes

Getting Started

Typical Process

Step	Time
Sign up online	10 minutes
Answer risk questionnaire	5 minutes
Verify identity	1-3 days
Fund account	Instant or 1-2 days
Portfolio invested	Immediately

What You’ll Need

Requirement	Details
SIN	Required
Bank account	For funding
ID	Government-issued
Risk tolerance	Determine via questionnaire

Account Types Available

Comparison

Account	WS Invest	Questwealth	CI Direct
TFSA	✓	✓	✓
RRSP	✓	✓	✓
FHSA	✓	✓	✓
RESP	✓	✓	✓
Non-registered	✓	✓	✓
Corporate	✓

Switching Robo-Advisors

How to Transfer

Step	Action
1	Open new robo account
2	Request transfer
3	New robo handles paperwork
4	Wait 2-4 weeks
5	Old account closed

Transfer Fees

From	Fee
Most robo-advisors	$50-150
Many will reimburse	If transferring to them

Our Recommendations

By Situation

Your Situation	Best Choice
Beginner, any amount	Wealthsimple Invest
Want lowest fees	Questwealth
Want some human advice	CI Direct
BMO customer	BMO SmartFolio
RBC customer	RBC InvestEase
Large portfolio ($200K+)	Consider DIY

The Bottom Line

Wealthsimple Invest for the best experience, Questwealth for the lowest fees, CI Direct if you want occasional human advice. Any of these are dramatically better than the 2%+ mutual fund portfolios most Canadians still hold at their bank. Once your portfolio grows past $200K, consider switching to DIY ETF investing to save even more.

5 Best Robo-Advisors in Canada 2026: Fees From 0.25% — Full Comparison

What is a Robo-Advisor?

How It Works

Who Should Use One

Best Robo-Advisors Compared

Quick Comparison

Wealthsimple Invest

Overview

Features

Pros & Cons

Questwealth Portfolios

Overview

Features

Pros & Cons

CI Direct Investing

Overview

Features

BMO SmartFolio

Overview

Pros & Cons

RBC InvestEase

Overview

Fee Comparison Deep Dive

All-In Cost (Management + ETF Fees)

Impact on $100,000 Over 20 Years

Robo-Advisor vs DIY

Cost Comparison

When Robo Makes Sense

Portfolio Types

Standard Portfolios

Socially Responsible (SRI)

Getting Started

Typical Process

What You’ll Need

Account Types Available

Comparison

Switching Robo-Advisors

How to Transfer

Transfer Fees

Our Recommendations

By Situation

The Bottom Line

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