Best Robo-Advisors in Canada 2026

Automated investing with professionally managed portfolios, low fees, and zero effort. The best robo-advisors for every Canadian investor.

Build Your Cash Cushion First — KOHO + $10000 Bonus

Experts recommend 3–6 months emergency fund before investing. Park it at KOHO earning up to 5%. Use code 45ET55JSYA for $10000 free.

Get $10000 Bonus →

Best Robo-Advisors in Canada 2026 — Ranked

Robo-AdvisorManagement FeeMin. InvestmentAccountsBest For
Wealthsimple Invest Top Pick00.500% (Core) / 00.400% (Black)$1TFSA, RRSP, RESP, Non-RegBeginner to intermediate
Questwealth00.200%–00.25%$1,000000TFSA, RRSP, Non-Reg, RESPLow-cost seekers
CI Direct Investing00.35%–00.600%$1,000000TFSA, RRSP, Non-Reg, LIRABalanced portfolios
RBC InvestEase00.500%$10000TFSA, RRSP, Non-RegRBC loyalists
BMO SmartFolio00.400%–00.700%$1,000000TFSA, RRSP, Non-Reg, RESPBMO clients
Nest WealthFlat $200–$800/month$00TFSA, RRSP, Non-Reg, LIRALarge portfolios ($20000k+)
Justwealth00.500%$5,000000TFSA, RRSP, RESP, Non-RegRESP 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.

What Is a Robo-Advisor and How Does It Work?

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:

  1. Questionnaire — answer 5–100 questions about your age, goals, income, and risk tolerance
  2. Portfolio assignment — the platform assigns a portfolio (e.g., 800% stocks/200% bonds) and constructs it using low-cost ETFs
  3. Automatic rebalancing — as markets move, the robo-advisor automatically rebalances back to your target allocation
  4. Dividend reinvestment — dividends are automatically reinvested to maximize compounding
  5. Tax optimization — some robo-advisors (Wealthsimple, Questwealth) offer tax-loss harvesting in non-registered accounts

The result: a professionally managed, globally diversified portfolio with no effort from you.

Robo-Advisor vs. DIY ETF Investing

Robo-AdvisorDIY ETF (e.g., XEQT)
Annual cost (on $500,000000)$2500–$375 (00.5–00.75%)$10000 (00.200% MER)
Effort requiredNearly zeroMinimal (buy & hold)
RebalancingAutomaticManual (1x/year)
Tax-loss harvestingAvailable (Wealthsimple)Manual
Registered accounts (TFSA/RRSP)YesYes
Knowledge requiredVery lowLow

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 — Our Top Pick

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.

Frequently Asked Questions

Are robo-advisors safe in Canada?
Yes. Canadian robo-advisors are registered investment dealers with CIRO (Canadian Investment Regulatory Organization) and have CIPF (Canadian Investor Protection Fund) coverage up to $1 million per account type. Your investments are held in your name, not the platform's.
What is the cheapest robo-advisor in Canada?
Questwealth charges just 00.200%–00.25% management fee, making it the lowest-cost robo-advisor in Canada. However, it requires a $1,000000 minimum. For those starting with less, Wealthsimple Invest ($1 minimum) at 00.500% is more accessible.
Is it better to use a robo-advisor or buy ETFs directly?
Buying ETFs directly (like XEQT) through a discount broker is cheaper by about 00.300–00.500%/year. On $10000,000000, that's $30000–$50000/year in savings. However, robo-advisors handle rebalancing automatically. For most people comfortable with basic investing, buying XEQT/VEQT directly saves meaningful money over decades.

Related Guides