Best Robo-Advisors In Canada
There’s no single best robo-advisor for returns. In 2025, Questwealth Balanced reported 12.61% and BMO SmartFolio Balanced reported 11.0% on different bases.
There’s no single Canadian robo-advisor with the best returns for every investor. For calendar 2025, Questwealth Balanced reported 12.61% and BMO SmartFolio Balanced reported 11.0%. These are reported portfolio figures, and differences in holdings and fee treatment prevent a like-for-like ranking. Past returns don’t predict future results.
- Questwealth Balanced: 12.61% for calendar 2025.
- BMO SmartFolio Balanced: 11.0% for calendar 2025, per BMO’s March 31, 2026 factsheet.
- Justwealth Global Balanced Growth: 8.97% for the year ending October 31, 2026. This is a model return after fund expenses and a 0.5% management fee.
- Wealthsimple Classic Balanced: 15.2% for calendar 2024 in its year-end report. Use the Classic Balanced performance page for other periods.
Key Takeaways
- A robo-advisor manages a portfolio based on an investment profile and the platform’s services.
- Fees, account types, and access to human advice distinguish Canadian robo-advisors.
- A diversified portfolio remains exposed to markets; past robo-advisor returns do not guarantee future results.
Portfolio performance can vary within the same provider. A growth portfolio usually holds more stocks than a balanced portfolio, so comparing them directly can reward the one that took more risk.
Ratesopedia’s Take: Robo-advisors offer a hands-off approach to investing with lower fees than traditional mutual funds. The best Canadian platforms combine automated portfolio management, broad diversification through ETFs, and tax-efficient account options like TFSAs and RRSPs. Choosing the right robo-advisor depends on your priorities: performance history, fee structure, account minimums, and access to human advisors.
Robo-advisors manage portfolios according to your risk profile. Management methods and investments vary: some portfolios follow indexes, while others are actively managed. Compare the specific service’s fees rather than assuming a uniform cost.
This guide compares Canada’s top robo-advisor platforms based on fees, performance, account options, and service quality. Whether you’re starting with $100 or $100,000, there’s a platform designed for your needs. We’ll help you identify which robo-advisor aligns with your investment goals and risk tolerance.
To compare robo-advisor returns, start with portfolios that take a similar amount of risk. Use the same start and end dates, check which fees each provider deducts, and compare annualized returns over several years.
Top Robo-Advisors Canada 2026
This selection compares management fees, minimums, available accounts and service. It does not establish a numerical risk-adjusted performance ranking.
| Platform | Management Fee | Account Minimum | Best For |
|---|---|---|---|
| Justwealth | 0.40% – 0.50% | $5,000 | Portfolio advice |
| Wealthsimple | 0.20% – 0.50% | Portfolio-dependent; check terms | User experience & accessibility |
| Questwealth | 0.20% – 0.25% | $250 | Portfolio management with low listed rates |
| CI Direct Investing | 0.35%–0.60% marginal tiers | Portfolio-dependent; from $100 | Marginal fee tiers |
| BMO SmartFolio | 0.40% – 0.70% | $1,000 | Big bank integration |
Displayed management rates are annual and minimums depend on the account or portfolio. The specific conditions and minimum fees below form part of the comparison; percentage ranges alone are insufficient.
How Robo-Advisors Work
A robo-advisor builds and manages your investment portfolio automatically. After you answer questions about your goals, timeline, and risk tolerance, the platform creates a diversified portfolio of ETFs matched to your profile.
The algorithm handles rebalancing when your asset allocation drifts. If stocks gain value and become a larger percentage of your portfolio than intended, the robo-advisor automatically sells some stock ETFs and buys bond ETFs to restore balance.
- Automatic rebalancing: Maintains your target asset allocation without manual intervention
- Tax-loss harvesting: Some platforms sell losing investments to offset gains and reduce taxes
- Dividend reinvestment: Cash distributions automatically buy more shares
- TFSA and RRSP support: All major platforms offer registered account options
Most Canadian robo-advisors use a passive index approach. Your portfolio holds broad market ETFs from providers like Vanguard, iShares, or BMO, giving you exposure to thousands of stocks and bonds through a handful of funds.
Fees and Costs Comparison
As checked October 30, 2026, Questwealth lists management fees of 0.25% for balances of $250 to $99,999 and 0.20% from $100,000. Additional MERs are 0.09% to 0.12% for ordinary portfolios and 0.20% to 0.24% for SRI portfolios. Currency conversion and other transactions can carry separate charges.
Illustrative simulation, with no additional contributions: $100,000 invested for 25 years, constant gross annual return of 6%, assumed total fees of 0.50% or 2.00% deducted from the annual return, annual compounding, no tax or inflation. Calculated ending balances are about $381,339 and $266,584, a difference of $114,756. This is neither observed performance nor a specific platform’s fee quote.
| Platform | Management Fee | Typical ETF MER | Management + MER, other charges excluded |
|---|---|---|---|
| Questwealth | 0.20% – 0.25% | 0.09%–0.12%; SRI 0.20%–0.24% | Depends on portfolio and balance |
| Wealthsimple | 0.20% – 0.50% | Portfolio-dependent | Depends on portfolio and balance |
| Justwealth | 0.40% – 0.50% | Portfolio-dependent | Minimum fees apply; see text |
| BMO SmartFolio | 0.40% – 0.70% | 0.20% – 0.35% | 0.60% – 1.05% |
According to pricing consulted October 30, 2026, CI Direct applies marginal tiers as detailed in the FAQ below; MER figures on its source are dated April 30, 2024. Wealthsimple lists 0.50% Core, 0.40% Premium and 0.20% to 0.40% Generation: the 0.20% rate applies at $10 million in assets, not to every Generation client. BMO SmartFolio charges 0.70% on the first $100,000, 0.60% on the next $150,000, 0.50% on the next $250,000 and 0.40% on the next $500,000, plus fund MERs. See Justwealth’s pricing for its tiers and minimum fees. These checks are not an exhaustive cost study.
Compare management fees, fund MERs and conditional charges, including currency conversion and transfers. A lower management rate alone does not establish the lowest total cost or the best future return.
Account Minimums
Minimums checked October 30, 2026 are $250 to invest with Questwealth and $1,000 per BMO SmartFolio account. At CI Direct, the balance required before investing can start at $100 depending on the portfolio; this is not a uniform minimum for every account. The effective date of the Questwealth threshold is not established here. For Wealthsimple, the Classic portfolio page, updated October 28, 2026 and consulted October 30, 2026, recommends at least $20; smaller amounts may remain in cash without being invested. This is a recommendation for that portfolio, not a universal minimum for every service.
Justwealth’s pricing, consulted October 30, 2026, lists a general $5,000 account minimum and no account minimum for RESPs, FHSAs and RDSPs. It also lists minimum monthly fees of $4.99 for other accounts and $2.50 for those three categories. A small balance can therefore incur an effective cost above the displayed percentage.
Performance and Returns
Compare historical returns over the same period and end date, with comparable asset allocation and risk. Check whether all fees are deducted.
Previously displayed return figures and rankings have been removed because their observation period and a comparable group of portfolios were not established. No new numerical ranking is inferred from isolated results.
Performance differences stem from portfolio construction choices, ETF selection, and rebalancing strategies. Some platforms use proprietary models or tactical adjustments. Others stick to pure index tracking with minimal intervention.
Account Types Offered
All major Canadian robo-advisors support tax-advantaged registered accounts. TFSAs and RRSPs are universally available. RESP and FHSA support is becoming standard but not yet universal across all platforms.
- TFSA: Tax-free growth and withdrawals, ideal for flexible savings goals
- RRSP: Tax-deductible contributions for retirement savings
- RESP: Education savings with government grant matching
- FHSA: First Home Savings Account combining TFSA and RRSP benefits
- Non-registered: Taxable accounts for amounts exceeding registered limits
Check the accounts available from each service, including LIRAs, LIFs and RRIFs when planning for retirement. Account variety alone does not establish overall superiority.
Access to Human Advisors
Despite the “robo” label, many platforms provide human support. The level of access varies by platform and account size. Some offer dedicated advisors, while others provide email or phone support.
Justwealth’s FAQ says every client has access to a Personal Portfolio Advisor. This title should not be recast as a promise of a dedicated financial planner. CI Direct includes access to advice from CFP professionals, which does not establish that every account is assigned a dedicated advisor. Sources consulted October 30, 2026.
At Wealthsimple, Premium starts at $100,000 and Generation at $500,000, based on the higher of eligible net deposits or portfolio value. Client status and advice services are distinct: check the selected service’s conditions and fees rather than assuming a tier automatically provides a free dedicated advisor. Consulted October 30, 2026.
Portfolio Customization
Most robo-advisors offer limited customization. You select a risk level, and the platform builds a corresponding portfolio. Justwealth stands out with over 80 portfolio options, including socially responsible, income-focused, and target-date portfolios.
Wealthsimple offers different portfolio types plus SRI and Halal options. Questwealth provides straightforward risk-based portfolios without extensive customization. For investors who want more control, these limitations might justify choosing a self-directed approach instead.
Platform Features
Compare the app and website for your needs: supported transactions, accessibility, documents and goal tracking. No design award or interface ranking is established here.
- Mobile apps: All major platforms offer iOS and Android apps for account monitoring
- Automatic deposits: Schedule recurring contributions from your bank account
- Goal tracking: Set targets for retirement, home purchase, or other objectives
- Performance reporting: View returns, contributions, and asset allocation
Justwealth offers education target-date RESP portfolios whose allocation evolves toward the expected enrolment year. This description, checked October 30, 2026, does not establish market exclusivity or the same feature for FHSAs.
Who Should Use Robo-Advisors
Robo-advisors work best for investors who want diversified portfolios without active management. If you’re comfortable with a passive index approach and don’t need frequent portfolio adjustments, they offer excellent value compared to traditional advisors.
- New investors: Simple account setup and automatic diversification remove barriers to starting
- Hands-off savers: Set automatic contributions and let the platform handle everything else
- Fee-conscious investors: Compare complete fees for your balance and portfolio
- Long-term holders: Choose an asset allocation suited to your horizon and accepted risk
Who Should Consider Alternatives
- Active traders: Robo-advisors don’t allow individual stock selection or frequent trading
- Complex financial situations: High net worth investors may need dedicated wealth managers
- Ultra-low-cost seekers: DIY investing with all-in-one ETFs can cost even less
- Cryptocurrency enthusiasts: Most robo-advisors don’t include crypto in portfolios
For investors comfortable selecting their own ETFs, self-directed online brokers offer lower costs. However, you’ll handle rebalancing and asset allocation yourself. Consider your time, knowledge, and discipline before choosing that route.
Promotional Offers
Several robo-advisors run promotions during RRSP season and throughout the year. As of October 2026, Justwealth's offer page lists a cash bonus of up to $500 for new accounts, paid on transfers over $100,000 (smaller transfers earn $50 to $225, from $10,000 and up).
Promotions and referral bonuses change. Check the current official terms, offer period and your eligibility before opening an account; no current CI Direct offer to manage $10,000 for free is established here.
Bottom Line
Your choice depends on the cost for your balance, eligible account types, portfolio construction and desired service. Compare those criteria for your needs; the information presented does not establish a performance winner.
A managed service can reduce the work of selecting investments and rebalancing. Its cost and suitability depend on your balance, portfolio and desired support; tax optimization and a cost below 1% are not universal.
Compare platforms based on your account size, desired features, and comfort with technology. Stay informed about the latest offers and platform updates by signing up for our newsletter to receive expert insights on Canadian financial products.
best robo-advisors – FAQ
What is the best robo-advisor in Canada?
The choice depends on your needs, fees for your balance, portfolio risk and desired support. This article establishes neither a comparable performance ranking nor a MoneySense 2026 award.
What are typical robo-advisor fees in Canada?
Separate management fees from fund MERs, then add any minimum fees, taxes and conditional charges. Table ranges are not a quote or a universal total cost. CI Direct’s management rates are marginal: 0.60% on the first $150,000, 0.40% on the next $350,000 and 0.35% above $500,000, with fund MERs additional.
What is the minimum to start with a robo-advisor?
Questwealth lists $250 before investing and BMO SmartFolio $1,000 per account. CI Direct’s minimum depends on the portfolio and can start at $100. Justwealth’s general minimum is $5,000, with the exceptions and minimum monthly fees explained above. Checked October 30, 2026.
Can I open a TFSA or RRSP with a robo-advisor?
Yes, all major Canadian robo-advisors support TFSA and RRSP accounts. Most also offer RESP, FHSA, and non-registered accounts. Justwealth additionally supports LIRA, LIF, and RRIF for retirees. Tax-advantaged accounts help maximize after-tax returns through tax-free or tax-deferred growth.
How do robo-advisor returns compare to mutual funds?
Lower fees can improve net returns when gross returns are identical. They do not establish general outperformance: compare equivalent periods, risks and portfolios. The fee simulation above is hypothetical and does not forecast returns.
Will I have access to a human advisor?
Access and the type of advice vary by service. Justwealth advertises a Personal Portfolio Advisor; CI Direct includes advice from CFP professionals. Wealthsimple’s Premium and Generation thresholds describe client status, without a universal promise of a free dedicated advisor.
Are robo-advisors safe in Canada?
Do not assume every portfolio manager is itself a CIPF member. Check the entity holding your assets and its membership. CIPF addresses eligible missing property when a member firm becomes insolvent, subject to its policy, account categories and applicable limits. It does not guarantee investment values or cover market losses. Source consulted October 30, 2026.
Can I transfer existing investments to a robo-advisor?
Yes, you can transfer registered accounts (TFSA, RRSP) from other institutions without tax consequences through a direct transfer. The robo-advisor typically handles the paperwork. Be aware that your current institution may charge transfer-out fees, though some robo-advisors reimburse these costs for larger accounts.