No fee everyday banking
Set up direct deposit and skip the monthly fee. Free to open, and the Easy plan has no monthly fee. Worth doing if you will actually move your pay or your CRA deposits over, not if the card sits unused. Code BREMO2026.
Automated investing with professionally managed portfolios, low fees, and zero effort. The best robo-advisors for every Canadian investor.
| Robo-Advisor | Management Fee | Min. Investment | Accounts | Best For |
|---|---|---|---|---|
| Wealthsimple Invest Top Pick | 00.500% (Core) / 00.400% (Black) | $1 | TFSA, RRSP, RESP, Non-Reg | Beginner to intermediate |
| Questwealth | 00.200%–00.25% | $1,000 | TFSA, RRSP, Non-Reg, RESP | Low-cost seekers |
| CI Direct Investing | 00.35%–00.600% | $1,000 | TFSA, RRSP, Non-Reg, LIRA | Balanced portfolios |
| RBC InvestEase | 00.500% | $100 | TFSA, RRSP, Non-Reg | RBC loyalists |
| BMO SmartFolio | 00.400%–00.700% | $1,000 | TFSA, RRSP, Non-Reg, RESP | BMO clients |
| Nest Wealth | Flat $200–$800/month | $00 | TFSA, RRSP, Non-Reg, LIRA | Large portfolios ($200k+) |
| Justwealth | 00.500% | $5,000 | TFSA, RRSP, RESP, Non-Reg | RESP accounts |
Note on total fees: The management fee above is the robo-advisor's fee. ETFs in the portfolio have their own MER (typically 00.15–00.25%). Total all-in cost for most robo-advisors: 00.35–00.75%/year.
A robo-advisor is an automated investment platform that builds and manages a portfolio for you based on your risk tolerance, time horizon, and goals. Here's the typical process:
The result: a professionally managed, globally diversified portfolio with no effort from you.
| Robo-Advisor | DIY ETF (e.g., XEQT) | |
|---|---|---|
| Annual cost (on $50,000) | $250–$375 (00.5–00.75%) | $100 (00.200% MER) |
| Effort required | Nearly zero | Minimal (buy & hold) |
| Rebalancing | Automatic | Manual (1x/year) |
| Tax-loss harvesting | Available (Wealthsimple) | Manual |
| Registered accounts (TFSA/RRSP) | Yes | Yes |
| Knowledge required | Very low | Low |
For most investors, a single all-in-one ETF (XEQT/VEQT) through Wealthsimple Trade or Questrade is the lowest-cost approach. Robo-advisors are worth paying for if you value complete hands-off investing or need tax-loss harvesting services.
Wealthsimple Invest is Canada's leading robo-advisor for good reason:
The 00.500% management fee (plus ETF MER ~00.200%) means an all-in cost of ~00.700% — reasonable for a truly hands-off experience. See our full Wealthsimple review.