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Best Robo-Advisors in Canada (2026): Wealthsimple Managed vs Questwealth vs Justwealth
- Questwealth Portfolios is the cheapest: 0.25% up to $100,000 and 0.20% above, with a low minimum (Questrade's fee table starts at $250).
- Wealthsimple Managed has no minimum and the slickest app: 0.50% up to $100,000, 0.40% above.
- Justwealth charges 0.50% under $500,000 and 0.40% above, has a $5,000 minimum on most accounts, and offers dozens of portfolio options plus a dedicated portfolio manager.
- All three add ETF fees of roughly 0.10%–0.25% on top.
Canadian robo-advisors at a glance
| Wealthsimple Managed | Questwealth Portfolios | Justwealth | |
|---|---|---|---|
| Management fee | 0.50% up to $100,000; 0.40% above | 0.25% up to $100,000; 0.20% above | 0.50% under $500,000; 0.40% above |
| Typical ETF fees (MER) | ~0.10%–0.20% | ~0.09%–0.12% | ~0.15%–0.25% |
| Minimum | $0 | Low ($250 tier on Questrade's fee table) | $5,000 (lower or none for RESP/FHSA) |
| How it builds your portfolio | Questionnaire, then a model of low-cost ETFs; classic, socially responsible and halal options | Questionnaire, then actively managed ETF portfolios (including socially responsible) | Questionnaire plus a dedicated portfolio manager; dozens of model portfolios, including target-date RESPs |
| Tax-loss harvesting | On some tiers | Yes (non-registered) | Yes (non-registered) |
| Account types | TFSA, RRSP, FHSA, RESP, non-registered and more | TFSA, RRSP, FHSA, RESP, LIRA, non-registered | TFSA, RRSP, FHSA, RESP, LIRA, RRIF, non-registered |
| Best for | Beginners with small balances | Lowest cost | Personal service and portfolio choice |
Fees from each provider's site; confirm current tiers before opening.
What you'll actually pay
All-in cost = management fee + ETF fees. On a $25,000 portfolio:
| Management fee | ETF fees (approx.) | All-in per year | |
|---|---|---|---|
| Questwealth | $62.50 | ~$25 | ~$88 |
| Wealthsimple Managed | $125 | ~$40 | ~$165 |
| Justwealth | $125 | ~$50 | ~$175 |
| DIY all-in-one ETF (e.g. XEQT) | $0 | ~$50 | ~$50 |
The DIY route is cheapest, but only if you actually keep buying and don't sell in a downturn. Compare the funds in our best all-in-one ETFs ranking.
How each one is different
Wealthsimple Managed Investing. The easiest start: no minimum, a polished app, and automatic deposits from day one. Fees drop as your Wealthsimple balance grows. Read our Wealthsimple review.
Questwealth Portfolios. Questrade's robo is the price leader. Its portfolio team adjusts allocations within set ranges rather than holding a fixed index mix, so returns can differ a little from a pure index approach.
Justwealth. The most "advisor-like." You get a named portfolio manager, a wide menu of portfolios and target-date RESP portfolios that shift to bonds as your child gets closer to school.
Who should use a robo-advisor?
- Yes: new investors who want automatic deposits, people who've panic-sold before, and families wanting a hands-off RESP.
- Maybe not: confident investors happy to buy one all-in-one ETF a month. They'll save roughly 0.25%–0.50% a year.
The bottom line
Questwealth for the lowest fee, Wealthsimple for no minimum and the best app, Justwealth for personal service and portfolio choice. For the basics of how robos work, read what is a robo-advisor, and if you're weighing a DIY account instead, see Wealthsimple vs Questrade vs Interactive Brokers.
Frequently asked questions
Which robo-advisor has the lowest fees in Canada?
Questwealth Portfolios, at 0.25% on balances up to $100,000 and 0.20% above, plus ETF fees. Wealthsimple Managed and Justwealth both start at 0.50%.
Do Canadian robo-advisors offer tax-loss harvesting?
Questwealth and Justwealth offer tax-loss harvesting on non-registered accounts. Wealthsimple has offered it on higher tiers. It only matters for taxable accounts, not TFSAs or RRSPs.
Is a robo-advisor worth it compared to buying XEQT myself?
Buying one all-in-one ETF yourself is cheaper, often 0.20% all-in versus roughly 0.35%–0.70% with a robo. A robo is worth it if automation, goal planning and having someone to call keeps you investing consistently.
Can I open a TFSA, RRSP or FHSA with a robo-advisor?
Yes. All three support TFSAs and RRSPs, and FHSAs are widely available. Justwealth and Questwealth also offer RESPs. Check each provider's current list.
Are robo-advisors safe?
Your money is held at a CIRO-regulated dealer and covered by CIPF up to $1 million per account category if the firm fails. That doesn't protect you from market losses.
Primary sources
Data & disclaimer: This article is for educational purposes only and is not financial or investment advice. Figures reflect data available as of Nov 11, 2026, and conditions change — always confirm current pricing, rates and rules with the provider before you act. Written by Elizabeta Dimoska. See our editorial standards and disclosure.
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