Best Robo-Advisors in Canada 2026: 6 Hands-Off Portfolios Ranked by Fee

Quick Answer

For Canadian investors who want a hands-off, automatically rebalanced portfolio in 2026, the best robo-advisors ranked by all-in fee are: Questwealth Portfolios (0.25% management + roughly 0.17-0.22% ETF MER, the cheapest), Wealthsimple (0.50% Core, dropping to 0.40% above $100,000 and as low as 0.20% above $500,000, with no account minimum), CI Direct Investing (roughly 0.35-0.53% management), Justwealth (0.50% management, dropping to 0.40% above $500,000, with a $5,000 minimum), RBC InvestEase (0.50% management + roughly 0.11-0.13% ETF MER), and BMO SmartFolio (tiered, roughly 0.40-0.70% management). On a $100,000 portfolio the all-in cost ranges from about $450 per year (Questwealth) to about $750 (the bank-owned options) — but every one of them is less than half the cost of a typical 2% bank balanced mutual fund. The real decision is fee versus model (active vs passive) versus account minimum, and then the account you hold it in: RRSP and TFSA first. These are late-May 2026 fee figures and change frequently — confirm the current schedule before opening an account.

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How We Ranked: All-In Fee + Account Minimum + Portfolio Model

A robo-advisor builds you a diversified ETF portfolio matched to your risk level, then rebalances it automatically and reinvests dividends so you never have to log in. You pay for that convenience in two layers: the robo-advisor's management fee, charged on your balance, plus the management expense ratio (MER) of the underlying ETFs the robo-advisor holds. The headline management fee is the number providers advertise; the all-in cost is what actually leaves your account. We ranked on the all-in cost first, then weighed two tie-breakers:

All-in fee (management + ETF MER): the true annual drag on your portfolio. Lower is better, and the gap compounds over decades.
Account minimum: the balance you need to start. A great fee is useless if you cannot meet the minimum.
Portfolio model: strategic passive (set-and-rebalance index ETFs) versus light active management. Cheaper sometimes means a manager is making discretionary calls — that is a feature for some investors and a drawback for others.

The fee figures below are a snapshot taken in late May 2026 from each provider's published schedule and an independent comparison. Robo-advisors change pricing and run sign-up promotions constantly, so treat these as a starting point and confirm the current numbers before you open an account. For the values-screened version of this question — building a Shariah-compliant hands-off portfolio — see our guide to the best halal ETFs in Canada for 2026.

The Ranking: 6 Canadian Robo-Advisors Compared Head-to-Head

Rank	Robo-advisor	Management fee	+ ETF MER	Minimum	All-in cost on $100K
1	Questwealth (Questrade)	0.25% (0.20% over $100K)	~0.17-0.22%	$1,000	~$420-$470
2	Wealthsimple	0.50% (0.40% over $100K)	~0.20%	$0	~$700
3	RBC InvestEase	0.50%	~0.11-0.13%	~$0	~$610-$630
4	CI Direct Investing	~0.35-0.53%	~0.20%	$1,000	~$550-$730
5	Justwealth	0.50% (0.40% over $500K)	~0.25%	$5,000	~$700-$750
6	BMO SmartFolio	~0.40-0.70% (tiered)	~0.20-0.35%	$1,000	~$700-$900

The all-in spread runs from roughly $450 to $900 per year on a $100,000 portfolio — a difference of up to $450 annually. That is worth minimizing, but keep it in perspective: a typical Canadian bank balanced mutual fund at 2% costs $2,000 per year on the same balance. Every robo-advisor in this list is less than half that, and the cheapest is closer to one-fifth. The robo-advisor decision is downstream of a decision you have probably already made correctly — getting out of high-fee bank funds. Fee figures are a late-May 2026 snapshot.

Pick #1: Questwealth Portfolios — Lowest All-In Fee

Questwealth, run by Questrade, charges 0.25% management on balances under $100,000 and 0.20% above that, plus an underlying ETF MER of roughly 0.17% to 0.22%. That puts the all-in cost around 0.42% to 0.47% — the lowest in this ranking and roughly $420 to $470 per year on $100,000. The account minimum is $1,000.

The trade-off is the model. Questwealth uses light active management — the portfolio team adjusts the ETF mix within each risk profile rather than holding a fixed passive allocation. For some investors that is a value-add; for purists who want pure passive indexing with no manager discretion, it is a reason to look elsewhere. There is no guarantee active management beats a simple passive benchmark in any given year.

Who it suits: the cost-conscious investor with at least $1,000 to start who wants the lowest possible all-in fee and is comfortable with a lightly actively-managed portfolio inside the Questrade ecosystem.

Pick #2: Wealthsimple — No Minimum, Best for Beginners and Large Balances

Wealthsimple is the most recognized name in Canadian robo-advising and the only one here with a $0 account minimum — you can open an account and start with a single dollar. The management fee is tiered: 0.50% on the Core tier, dropping to 0.40% once your combined balance crosses $100,000 (Premium), and starting at 0.40% and scaling toward 0.20% above $500,000 (Generation). Add the underlying ETF MER of roughly 0.20% and a Core client pays about 0.70% all-in.

At small balances that 0.50% management fee is double Questwealth's 0.25%, so Wealthsimple is not the cheapest for a mid-size DIY-curious investor. Where it wins is the two ends of the spectrum: beginners who would otherwise never start (the $0 minimum and clean app remove every excuse), and large portfolios where the Generation tier scales the fee down meaningfully.

Who it suits: the brand-new investor starting from zero who needs the lowest barrier to entry, and the high-balance investor ($500,000+) benefiting from the Generation tier's declining fee.

Pick #3: RBC InvestEase — Lowest Underlying ETF MER, Bank Convenience

RBC InvestEase charges a flat 0.50% management fee, but its underlying RBC iShares ETFs carry an unusually low MER of roughly 0.11% to 0.13% — among the lowest in this group. That brings the all-in cost to about 0.61% to 0.63%, or roughly $610 to $630 per year on $100,000, slightly cheaper all-in than Wealthsimple's Core tier despite the identical headline management fee.

The pitch is integration: if your chequing, savings, and mortgage already sit at RBC, InvestEase lets you manage everything in one banking relationship, and funding the account is instant. The portfolios are straightforward strategic-passive allocations. You will not get the rock-bottom fee of Questwealth, but you get a major-bank platform and a genuinely low underlying ETF cost.

Who it suits: the existing RBC client who values one consolidated banking relationship and wants a low underlying ETF cost without leaving the big-bank ecosystem.

Pick #4: CI Direct Investing — Mid-Fee with Human Advice Access

CI Direct Investing (formerly WealthBar) charges a tiered management fee in the range of roughly 0.35% to 0.53% depending on your balance, plus an underlying ETF MER around 0.20%. That lands its all-in cost between Questwealth and the bank-owned options — roughly $550 to $730 per year on $100,000, with a $1,000 minimum.

The differentiator is access to human financial advisors as part of the package, plus a wider menu of portfolio types including private-investment and impact options. For investors who want a robo-advisor's automation but with the option to talk to a person about their plan, CI Direct sits in a useful middle ground that pure-app robos do not occupy.

Who it suits: the investor who wants automated management plus occasional access to a human advisor and a broader portfolio menu, and is willing to pay a mid-tier fee for it.

Pick #5: Justwealth — Most Portfolio Choice, Strong on RESPs

Justwealth charges 0.50% management (dropping to 0.40% above $500,000) with a minimum monthly fee floor, plus an underlying ETF MER of roughly 0.25%. The all-in cost is about $700 to $750 per year on $100,000. The standard account minimum is $5,000 — the highest in this ranking — though its RESP portfolios have no minimum.

Justwealth's strength is breadth: it offers one of the largest libraries of professionally constructed portfolios of any Canadian robo-advisor, including target-date RESP portfolios that automatically de-risk as a child approaches university. Every client is assigned a personal portfolio manager. The $5,000 minimum rules it out for absolute beginners, but for families building education savings it is frequently the standout choice.

Who it suits: the investor with at least $5,000 who wants extensive portfolio customization and a dedicated portfolio manager, and especially families using an RESP with the no-minimum target-date option.

Pick #6: BMO SmartFolio — Bank-Backed, Highest Fee Tier

BMO SmartFolio charges a tiered management fee that runs from roughly 0.40% on large balances up to 0.70% on smaller ones, plus an underlying ETF MER of roughly 0.20% to 0.35%. All-in, that is the most expensive option in this ranking — roughly $700 to $900 per year on $100,000 — with a $1,000 minimum.

The appeal is the same as RBC InvestEase: integration for existing BMO clients and the comfort of a major-bank brand managing the portfolio. But the fee is the highest here, and the underlying ETF MER can run higher than the InvestEase or Wealthsimple equivalents. Unless you specifically value the BMO relationship, the cost is hard to justify against the cheaper options above it.

Who it suits: the existing BMO client who wants their managed portfolio inside the same bank and is willing to pay the highest fee in this group for that convenience.

The Account Decision Matters as Much as the Provider

Picking the cheapest robo-advisor saves you a few hundred dollars a year. Holding it in the wrong account — or skipping registered room entirely — can cost far more in tax. Every robo-advisor here manages portfolios inside registered accounts, so the provider choice and the account choice are independent decisions you make together.

Account	2026 contribution room	Tax treatment	Fill order
RRSP	$33,810 (or 18% of prior-year earned income)	Tax-deductible in, taxed on withdrawal	First, if you expect a lower retirement bracket
TFSA	$7,000/yr ($109,000 cumulative since 2009)	Tax-free growth and withdrawal	First or second — most flexible account
FHSA	$8,000/yr, $40,000 lifetime	Deductible in, tax-free on qualifying home purchase	High priority for first-time homebuyers
Non-registered	Unlimited	50% capital gains inclusion on sale	Overflow after registered room is full

The practical sequence: fill your TFSA and RRSP first (and your FHSA if you are a first-time buyer), then move to a non-registered managed account only after the registered room is used up. A robo-advisor will happily open all of these — but it will not stop you from putting money in the wrong order. The contribution limits above are the verified 2026 CRA figures.

The fee comparison most people skip: a single all-in-one asset-allocation ETF that you buy and hold yourself costs roughly 0.20% — about half the all-in cost of even the cheapest robo-advisor. The robo-advisor's management layer (the 0.25% to 0.50% on top) is only worth paying if it stops you from panic-selling in a downturn or if it is the reason you actually invest at all. If you are a disciplined DIY investor who will rebalance once a year and ignore the headlines, the robo-advisor fee is an avoidable cost. If you are not, it is cheap insurance against your own behaviour.

The Fee Math Over 25 Years: How Much Does the Spread Cost?

The question worth answering is how much the difference between the cheapest and most expensive robo-advisor actually costs over a real holding period. On a $100,000 starting balance growing at 6% annually for 25 years, here is the approximate drag of each all-in fee level:

Option	All-in fee	Approx. cost on $100K (25 yrs)
DIY all-in-one ETF	~0.20%	~$11,000
Questwealth (cheapest robo)	~0.45%	~$24,000
Bank-owned robo (mid)	~0.70%	~$37,000
Bank balanced mutual fund	~2.00%	~$100,000+

The takeaway is the scale of the gaps. Moving from a 2% bank mutual fund to any robo-advisor saves you well over $60,000 over 25 years on a $100,000 balance — that is the decision that matters most. Choosing the cheapest robo over a mid-priced one saves another $13,000 or so. And going fully DIY saves another $13,000 beyond that, if you have the discipline. Each step down in fee is worth real money, but the first step — leaving the bank mutual fund — is by far the largest.

Errors to Avoid When Choosing a Robo-Advisor in Canada

1. Picking on headline management fee alone

The advertised management fee is only half the cost. RBC InvestEase and Wealthsimple Core both charge a 0.50% management fee, but RBC's underlying ETF MER (~0.12%) is lower than Wealthsimple's (~0.20%), making RBC slightly cheaper all-in. Always add the ETF MER to the management fee before comparing.

2. Ignoring the account minimum before you fall for the fee

Justwealth's portfolios are excellent, but the $5,000 standard minimum rules it out if you are starting with $500. Wealthsimple's $0 minimum exists precisely for that investor. Confirm you can actually meet the minimum before you compare fees.

3. Leaving money in cash while you research

The most expensive mistake is not the fee gap between robo-advisors — it is the months of returns you forgo while deciding. A 0.45% versus 0.70% fee difference is trivial next to a year of being un-invested. Pick a reasonable option, automate contributions, and refine later.

4. Using a non-registered account before filling registered room

A robo-advisor will open a non-registered account for you without flagging that your TFSA, RRSP, and FHSA still have room. Investment growth in a non-registered account is taxable; the same growth in a TFSA is not. Fill registered room first — every dollar of TFSA room you skip is taxable growth you chose to pay tax on.

Free 15-minute portfolio review

Want to know whether a robo-advisor, a DIY all-in-one ETF, or a managed portfolio is the right fit for your RRSP, TFSA, and FHSA balances? Book a free 15-minute call with our investment planning team. We will run the all-in fee comparison, the account-placement math, and the DIY-versus-robo break-even against your actual numbers.

Key Takeaways

1Questwealth Portfolios (Questrade) is the cheapest at roughly 0.42-0.47% all-in — but it uses light active management, not pure passive indexing
2Wealthsimple has the only $0 account minimum and tiers down from 0.50% to 0.40% above $100,000 and toward 0.20% above $500,000 — best for beginners and large balances
3Every robo-advisor here costs less than half a typical 2% bank balanced mutual fund — on $100K that is a $1,550/year difference that compounds past $100K over 25 years
4A DIY all-in-one ETF costs roughly 0.20% — about half a robo-advisor; the robo earns its fee only if it stops you from panic-selling or is the reason you actually invest at all
5Hold your robo-advisor portfolio in RRSP ($33,810 limit) and TFSA ($7,000 limit, $109,000 cumulative) first, then FHSA ($8,000/yr, $40,000 lifetime), before any non-registered account

Frequently Asked Questions

Q:What is the cheapest robo-advisor in Canada in 2026?

A:Questwealth Portfolios, run by Questrade, is the cheapest robo-advisor in Canada in 2026 on a pure management-fee basis. It charges 0.25% on balances under $100,000 and 0.20% above that, plus an underlying ETF MER of roughly 0.17% to 0.22%. That puts the all-in cost in the 0.42% to 0.47% range — meaningfully below the 0.70% to 0.75% all-in cost at most bank-owned robo-advisors. On a $100,000 portfolio, Questwealth's all-in cost works out to roughly $420 to $470 per year versus about $700 to $750 at RBC InvestEase or BMO SmartFolio. The catch is that Questwealth uses an actively managed approach inside its portfolios rather than pure passive indexing, which some investors view as a feature and others as a drawback. If you want the lowest headline number and you are comfortable with Questrade's platform, it wins on cost. These fee figures are a late-May 2026 snapshot — robo-advisors adjust pricing and promotions frequently, so confirm the current schedule on the provider's site before you open an account.

Q:How do robo-advisor fees compare to a bank mutual fund in Canada?

A:This is the entire reason robo-advisors exist. A typical Canadian bank balanced mutual fund carries an MER of 1.8% to 2.4%. The most expensive robo-advisor in our ranking — BMO SmartFolio or RBC InvestEase at roughly 0.70% to 0.75% all-in — is still less than half the cost of a bank mutual fund. The cheapest, Questwealth at roughly 0.45% all-in, is closer to one-fifth the cost. On a $100,000 portfolio, the difference between a 2.0% bank mutual fund ($2,000 per year) and a 0.45% robo-advisor ($450 per year) is $1,550 per year. Over 25 years at 6% growth, that fee gap compounds into well over $100,000 of foregone wealth. The robo-advisor versus bank-mutual-fund decision is not close — the only question is which robo-advisor, and that comes down to fee, minimum, and how hands-off you want to be.

Q:Can I hold a robo-advisor portfolio inside an RRSP, TFSA, or FHSA?

A:Yes. RRSP, TFSA, and FHSA are account types, not products — a robo-advisor simply manages the investments inside whichever registered account you open with it. Every robo-advisor in this ranking offers RRSP and TFSA accounts, and most now offer the FHSA as well. For 2026, the RRSP contribution limit is $33,810 (or 18% of prior-year earned income, whichever is lower), the TFSA annual limit is $7,000 (cumulative room of $109,000 if you have been eligible since 2009), and the FHSA limit is $8,000 per year up to a $40,000 lifetime maximum. A robo-advisor can manage a globally diversified portfolio inside each of these accounts and rebalance it automatically. The account-priority order does not change because you use a robo-advisor: fill registered room first, then move to a non-registered managed account for any overflow.

Q:Is a robo-advisor worth it, or should I just buy an all-in-one ETF myself?

A:It depends on whether you will actually rebalance and stay invested on your own. A single all-in-one ETF like a balanced or growth asset-allocation fund charges roughly 0.20% — about half the all-in cost of even the cheapest robo-advisor. If you are disciplined enough to set up automatic contributions, leave the portfolio alone during a 20% drawdown, and not tinker, the DIY route saves you the robo-advisor's management layer (the 0.25% to 0.50% on top of the ETF MER). The robo-advisor earns its fee in two situations: when you would otherwise sell in a panic (the behavioural premium is real and frequently worth more than the fee), and when you genuinely will not get around to opening the account and automating it yourself. For a $100,000 portfolio, the robo-advisor management layer costs roughly $250 to $500 per year. If that fee is the price of you actually investing instead of leaving cash in a savings account, it is cheap. If you are already a disciplined DIY investor, it is an avoidable cost.

Q:Does Wealthsimple charge less as my balance grows?

A:Yes. Wealthsimple's management fee is tiered by total assets. The Core tier charges 0.50% on managed investing accounts. Once your combined Wealthsimple balance crosses $100,000 you move to the Premium tier at 0.40%, and at $500,000 you reach the Generation tier, which starts at 0.40% and scales down toward 0.20% for very large balances. On top of the management fee you pay the underlying ETF MER of roughly 0.20%. So a Core client with $50,000 pays about 0.70% all-in, a Premium client with $150,000 pays about 0.60% all-in, and a Generation client pays progressively less. The tiering means Wealthsimple gets more competitive the larger your portfolio, but at smaller balances its 0.50% management fee is double Questwealth's 0.25%. These tier thresholds and fees are a late-May 2026 snapshot — verify the current schedule before opening an account.

Q:What is the difference between Questwealth and a pure index robo-advisor?

A:Questwealth Portfolios uses an actively managed approach: Questrade's portfolio team adjusts the ETF mix within each risk profile in an attempt to manage downside and capture opportunities, rather than holding a fixed passive allocation that only rebalances back to target weights. Most other robo-advisors in this ranking — Wealthsimple, RBC InvestEase, BMO SmartFolio — are strategic passive: they set an asset allocation for your risk level and rebalance back to it, full stop. Justwealth sits in between, offering a large number of professionally constructed portfolios with some tactical input. The practical implication: Questwealth's lower fee partly reflects its model, but active management introduces the possibility of underperforming a simple passive benchmark in any given year. If you specifically want pure passive indexing with no manager discretion, a strategic-passive robo-advisor or a DIY all-in-one ETF is the cleaner fit. If you are comfortable with light active management for the lowest fee, Questwealth is the value pick.

Q:Are there account minimums for robo-advisors in Canada?

A:They vary, and the minimum can rule out a provider before fees even matter. Wealthsimple has no account minimum — you can start with $1, which makes it the default for new investors and small balances. Questwealth requires $1,000 to begin investing. CI Direct Investing also starts around $1,000. Justwealth requires $5,000 for most of its standard portfolios (its RESP portfolios have no minimum). RBC InvestEase has effectively no minimum to open but you need a small balance to be invested. BMO SmartFolio generally requires $1,000. If you are starting from zero and want to build the habit with automatic contributions, Wealthsimple's $0 minimum is the practical winner regardless of where it lands on pure fee. Once you have a meaningful balance, the minimum stops mattering and fee plus model take over.

Q:How much does a robo-advisor actually cost me per year on $100,000?

A:On a $100,000 portfolio, the all-in annual cost (management fee plus underlying ETF MER) for 2026 looks like this: Questwealth roughly $420 to $470, Wealthsimple Core roughly $700, CI Direct Investing roughly $550 to $700 depending on tier, Justwealth roughly $700 to $750, RBC InvestEase roughly $610 to $630, and BMO SmartFolio roughly $700 to $900 depending on the fee tier. The spread between the cheapest and most expensive is therefore $300 to $450 per year at this balance. Over a 25-year holding period at 6% annual growth, the difference between a 0.45% all-in robo-advisor and a 0.75% one on a $100,000 starting balance is roughly $25,000 to $30,000 in foregone terminal value. The fee gap is real and worth minimizing, but it is far smaller than the gap between any robo-advisor and a 2% bank mutual fund. These figures are a late-May 2026 snapshot; confirm current rates before committing.

Question: What is the cheapest robo-advisor in Canada in 2026?

Answer: Questwealth Portfolios, run by Questrade, is the cheapest robo-advisor in Canada in 2026 on a pure management-fee basis. It charges 0.25% on balances under $100,000 and 0.20% above that, plus an underlying ETF MER of roughly 0.17% to 0.22%. That puts the all-in cost in the 0.42% to 0.47% range — meaningfully below the 0.70% to 0.75% all-in cost at most bank-owned robo-advisors. On a $100,000 portfolio, Questwealth's all-in cost works out to roughly $420 to $470 per year versus about $700 to $750 at RBC InvestEase or BMO SmartFolio. The catch is that Questwealth uses an actively managed approach inside its portfolios rather than pure passive indexing, which some investors view as a feature and others as a drawback. If you want the lowest headline number and you are comfortable with Questrade's platform, it wins on cost. These fee figures are a late-May 2026 snapshot — robo-advisors adjust pricing and promotions frequently, so confirm the current schedule on the provider's site before you open an account.

Question: How do robo-advisor fees compare to a bank mutual fund in Canada?

Answer: This is the entire reason robo-advisors exist. A typical Canadian bank balanced mutual fund carries an MER of 1.8% to 2.4%. The most expensive robo-advisor in our ranking — BMO SmartFolio or RBC InvestEase at roughly 0.70% to 0.75% all-in — is still less than half the cost of a bank mutual fund. The cheapest, Questwealth at roughly 0.45% all-in, is closer to one-fifth the cost. On a $100,000 portfolio, the difference between a 2.0% bank mutual fund ($2,000 per year) and a 0.45% robo-advisor ($450 per year) is $1,550 per year. Over 25 years at 6% growth, that fee gap compounds into well over $100,000 of foregone wealth. The robo-advisor versus bank-mutual-fund decision is not close — the only question is which robo-advisor, and that comes down to fee, minimum, and how hands-off you want to be.

Question: Can I hold a robo-advisor portfolio inside an RRSP, TFSA, or FHSA?

Answer: Yes. RRSP, TFSA, and FHSA are account types, not products — a robo-advisor simply manages the investments inside whichever registered account you open with it. Every robo-advisor in this ranking offers RRSP and TFSA accounts, and most now offer the FHSA as well. For 2026, the RRSP contribution limit is $33,810 (or 18% of prior-year earned income, whichever is lower), the TFSA annual limit is $7,000 (cumulative room of $109,000 if you have been eligible since 2009), and the FHSA limit is $8,000 per year up to a $40,000 lifetime maximum. A robo-advisor can manage a globally diversified portfolio inside each of these accounts and rebalance it automatically. The account-priority order does not change because you use a robo-advisor: fill registered room first, then move to a non-registered managed account for any overflow.

Question: Is a robo-advisor worth it, or should I just buy an all-in-one ETF myself?

Answer: It depends on whether you will actually rebalance and stay invested on your own. A single all-in-one ETF like a balanced or growth asset-allocation fund charges roughly 0.20% — about half the all-in cost of even the cheapest robo-advisor. If you are disciplined enough to set up automatic contributions, leave the portfolio alone during a 20% drawdown, and not tinker, the DIY route saves you the robo-advisor's management layer (the 0.25% to 0.50% on top of the ETF MER). The robo-advisor earns its fee in two situations: when you would otherwise sell in a panic (the behavioural premium is real and frequently worth more than the fee), and when you genuinely will not get around to opening the account and automating it yourself. For a $100,000 portfolio, the robo-advisor management layer costs roughly $250 to $500 per year. If that fee is the price of you actually investing instead of leaving cash in a savings account, it is cheap. If you are already a disciplined DIY investor, it is an avoidable cost.

Question: Does Wealthsimple charge less as my balance grows?

Answer: Yes. Wealthsimple's management fee is tiered by total assets. The Core tier charges 0.50% on managed investing accounts. Once your combined Wealthsimple balance crosses $100,000 you move to the Premium tier at 0.40%, and at $500,000 you reach the Generation tier, which starts at 0.40% and scales down toward 0.20% for very large balances. On top of the management fee you pay the underlying ETF MER of roughly 0.20%. So a Core client with $50,000 pays about 0.70% all-in, a Premium client with $150,000 pays about 0.60% all-in, and a Generation client pays progressively less. The tiering means Wealthsimple gets more competitive the larger your portfolio, but at smaller balances its 0.50% management fee is double Questwealth's 0.25%. These tier thresholds and fees are a late-May 2026 snapshot — verify the current schedule before opening an account.

Question: What is the difference between Questwealth and a pure index robo-advisor?

Answer: Questwealth Portfolios uses an actively managed approach: Questrade's portfolio team adjusts the ETF mix within each risk profile in an attempt to manage downside and capture opportunities, rather than holding a fixed passive allocation that only rebalances back to target weights. Most other robo-advisors in this ranking — Wealthsimple, RBC InvestEase, BMO SmartFolio — are strategic passive: they set an asset allocation for your risk level and rebalance back to it, full stop. Justwealth sits in between, offering a large number of professionally constructed portfolios with some tactical input. The practical implication: Questwealth's lower fee partly reflects its model, but active management introduces the possibility of underperforming a simple passive benchmark in any given year. If you specifically want pure passive indexing with no manager discretion, a strategic-passive robo-advisor or a DIY all-in-one ETF is the cleaner fit. If you are comfortable with light active management for the lowest fee, Questwealth is the value pick.

Question: Are there account minimums for robo-advisors in Canada?

Answer: They vary, and the minimum can rule out a provider before fees even matter. Wealthsimple has no account minimum — you can start with $1, which makes it the default for new investors and small balances. Questwealth requires $1,000 to begin investing. CI Direct Investing also starts around $1,000. Justwealth requires $5,000 for most of its standard portfolios (its RESP portfolios have no minimum). RBC InvestEase has effectively no minimum to open but you need a small balance to be invested. BMO SmartFolio generally requires $1,000. If you are starting from zero and want to build the habit with automatic contributions, Wealthsimple's $0 minimum is the practical winner regardless of where it lands on pure fee. Once you have a meaningful balance, the minimum stops mattering and fee plus model take over.

Question: How much does a robo-advisor actually cost me per year on $100,000?

Answer: On a $100,000 portfolio, the all-in annual cost (management fee plus underlying ETF MER) for 2026 looks like this: Questwealth roughly $420 to $470, Wealthsimple Core roughly $700, CI Direct Investing roughly $550 to $700 depending on tier, Justwealth roughly $700 to $750, RBC InvestEase roughly $610 to $630, and BMO SmartFolio roughly $700 to $900 depending on the fee tier. The spread between the cheapest and most expensive is therefore $300 to $450 per year at this balance. Over a 25-year holding period at 6% annual growth, the difference between a 0.45% all-in robo-advisor and a 0.75% one on a $100,000 starting balance is roughly $25,000 to $30,000 in foregone terminal value. The fee gap is real and worth minimizing, but it is far smaller than the gap between any robo-advisor and a 2% bank mutual fund. These figures are a late-May 2026 snapshot; confirm current rates before committing.