Updated: April 2025  |  bremo.io financial guides

Robo-Advisor Guide Canada 2025 — Best Automated Investing Services

A robo-advisor is an automated investment platform that builds and manages a diversified portfolio for you based on your risk tolerance and goals. You answer a few questions, deposit money, and the platform invests and rebalances automatically. For Canadians who want a hands-off approach, robo-advisors offer a middle ground between a savings account and full DIY investing.

How Robo-Advisors Work

1. Complete an online questionnaire about your goals, timeline, and risk tolerance
2. The platform recommends a portfolio (typically low-cost ETFs at various equity/bond ratios)
3. You deposit funds; the platform buys and rebalances automatically
4. Ongoing management happens without your input

Robo-Advisor Fees in Canada

Canadian robo-advisors typically charge 0.40%–0.50% annually on top of the underlying ETF MERs (0.15%–0.25%). Total all-in cost is usually 0.55%–0.75%. This is far less than traditional financial advisors or mutual funds (1.5%–2.5%), but more than DIY ETF investing at a discount broker.

Top Canadian Robo-Advisors

Wealthsimple Invest

The largest Canadian robo-advisor. Easy to use, strong brand, TFSA/RRSP/RESP/FHSA accounts available. Management fee of 0.40%–0.50% depending on balance tier. Excellent mobile app. Good for beginner to intermediate investors.

Justwealth

Known for specialized target-date portfolios, particularly popular for RESPs with age-appropriate asset allocation. Strong for education savings.

BMO SmartFolio / RBC InvestEase / TD GoalAssist

Big bank robo-advisors offer the comfort of an established institution with integration into existing accounts. Fees are comparable to independent robo-advisors but may lack the polish of platforms built as pure fintechs.

Robo-Advisor vs. DIY ETF Investing

Robo-advisor advantages: No investment knowledge needed, automatic rebalancing, behavioural guardrails, broad registered account support.

DIY ETF advantages: Lower total fees (0.20% vs 0.60%), more control, educational experience, identical or better long-term results with one all-in-one ETF.

For beginners who find DIY intimidating, a robo-advisor is far better than not investing at all. For those comfortable opening a brokerage account and buying one ETF (VGRO/XGRO), DIY is likely worth the small extra effort for lower fees.

Account Types Available

The major Canadian robo-advisors offer TFSA, RRSP, RESP, FHSA, RRIF, and non-registered accounts. This makes them suitable for virtually any investment goal.