Ranked and compared: the top RESP accounts in Canada by fees, investment options, ease of use, and CESG processing speed.
| Provider | Type | Annual Fee | Best For | Rating |
|---|---|---|---|---|
| Wealthsimple | Managed/Self-directed | 0–0.50% | Beginners, hands-off | ★★★★★ |
| Questrade | Self-directed | $0 ETF buys | DIY investors | ★★★★★ |
| TD Bank | Managed/Self-directed | 0–2.5% MER | TD customers, branch access | ★★★★☆ |
| RBC | Managed/Self-directed | 0–2.5% MER | RBC customers | ★★★★☆ |
| Scotia iTRADE | Self-directed | $4.99/trade | Scotia customers | ★★★☆☆ |
Wealthsimple offers both a managed RESP (classic or socially responsible portfolios, 0.40–0.50% annual fee) and a self-directed option with commission-free ETF trading. The managed option automatically adjusts asset allocation as your child ages — perfect for parents who want a set-it-and-forget-it approach.
Questrade is Canada's leading discount brokerage with free ETF purchases (you only pay to sell). For investors comfortable choosing their own ETFs, Questrade's RESP delivers the lowest possible ongoing costs — hold XEQT or VEQT and your MER is just 0.20%.
TD Direct Investing gives access to TD e-Series index funds (~0.35% MER) — a hidden gem for low-cost RESP investing with the comfort of a major Canadian bank. In-branch support is a plus for those who prefer face-to-face advice.
RBC Direct Investing offers a full self-directed RESP plus the InvestEase robo-advisor option at 0.50% annually. Convenient for existing RBC customers wanting everything under one roof.
| Provider | Recommended Investment | MER |
|---|---|---|
| Wealthsimple (managed) | Classic Growth Portfolio | ~0.50% |
| Questrade | XEQT or VEQT | 0.20% |
| TD Direct Investing | TD e-Series blend | ~0.35% |
| RBC Direct Investing | XEQT or iShares Core ETFs | 0.20% |
Group/pooled scholarship plan dealers have historically charged high fees and used misleading sales tactics. Heritage Education Funds and similar group plan dealers have faced regulatory action in Canada. The rule: if someone approaches you unsolicited about an RESP, proceed with extreme caution. Legitimate providers don't use high-pressure sales tactics.
Learn more: Group RESP vs Self-Directed — Full Comparison
KOHO's free savings account helps parents set aside RESP contributions every month. Earn cash back on everyday spending and redirect savings to your child's RESP.
Get KOHO Free — Code 45ET55JSYARelated: Wealthsimple RESP · Questrade RESP · TD RESP · RBC RESP · TFSA · RRSP · FHSA