Best Robo-Advisors in Canada (2026): Wealthsimple, Questwealth, Justwealth and More
This roundup is under the how to invest in Canada hub. Self-directed pricing at the same two firms is Wealthsimple versus Questrade. The product you are paying the robo not to pick is often XEQT or VEQT. There are no affiliate or referral links on this page.
- Questwealth's management fee is 0.25% or 0.20% by balance. It is not the MER of the ETFs inside the portfolio. Those are extra.
- Wealthsimple managed: 0.5% Core, 0.4% Premium. Generation runs from 0.4% at $500,000 to 0.2% at $10 million. Confirm which band you are actually in.
- Justwealth's own illustration uses a 0.50% management fee plus an average 0.20% ETF fee. CIPF coverage of $1,000,000 is stated for its custodian, CI Investment Services.
- RBC InvestEase lists 0.50% plus sales tax, billed monthly, plus a weighted ETF MER it describes as 0.12% to 0.25% on one page and 0.11% to 0.23% on another. Read the page the day you open the account.
- On $100,000, Questwealth's 0.25% is $250 before ETF MERs. XEQT's 0.19% MER is $190 all-in. The gap is the price of being managed.
Choose an all-in-one ETF if… you can buy one fund a year and leave it. The MER is the product fee. There is no second management layer.
What do the firms publish?
| Firm | Management fee | On top of that | A detail that changes the fit |
|---|---|---|---|
| Questwealth (Questrade Wealth Management) | 0.25% on $250 to $99,999. 0.20% at $100,000 and above. | The ETFs' own MERs. The marketing page does not publish one blended number. Read the portfolio facts. | Questwealth says portfolios are actively managed. That is a different promise from a static 80/20 ETF. Questrade Inc. is a CIPF member. The page says Questrade Wealth Management is not. |
| Wealthsimple managed | 0.5% Core. 0.4% Premium. Generation 0.2% to 0.4%, from 0.4% at $500,000 to 0.2% at $10,000,000. | ETF MERs inside the portfolio. Not stated as a single figure on the pricing page reviewed. | Premium on that page is the $100,000 relationship tier and includes USD accounts for self-directed trading. The managed fee and the trade fee are different products. |
| Justwealth | 0.50% in the firm's own $100,000 illustration. | Justwealth describes an average additional 0.20% in ETF management fees, for a 0.70% combined figure in that example. | The firm says it does not earn sales commissions. It also says accounts are CIPF-protected up to $1,000,000 through CI Investment Services. Higher-balance tiers, if any, belong on the current fee schedule. This page does not invent one. |
| RBC InvestEase | 0.50% plus applicable sales tax, billed monthly on average assets. | Weighted-average ETF MER. The pricing page says 0.12% to 0.25%. A separate RBC article says 0.11% to 0.23%. | Invested once the balance is $100 or more. From $100 to $1,499, RBC uses a Starter Portfolio because it does not buy fractional shares. Above $1,500 it moves you to the broader portfolio. |
Table as of September 2026. Bank robos not in the table exist. If a fee was not on the firm's own page when this was written, it is not guessed here. How a percent compounds once it is real is the MER drag guide.
What does the fee cost next to an all-in-one ETF?
Questwealth at 0.25% is $250, and the ETFs inside still charge their MERs. Wealthsimple Core at 0.5% is $500, plus those ETFs. Justwealth's illustration is 0.50% plus 0.20%, which is $700 on $100,000. RBC InvestEase at 0.50% is $500, plus sales tax, plus a weighted MER. If that MER is 0.20%, add $200, and the management fee's sales tax is extra because RBC states the 0.50% before tax. XEQT's reported MER of 0.19% is $190, and that is the fund's cost, not a second advisory fee. The robo is not cheaper. It is a service. On $100,000 the service costs a few hundred dollars a year before the ETFs. If that is what gets the money invested, it can be the right purchase. If you already buy one ETF, you are paying for a job you do.
Nadia has $40,000 and will add $500 a month. She will not log in to rebalance. Questwealth's 0.25% on $40,000 is $100 a year before ETF MERs and before the new contributions. Wealthsimple Core's 0.5% is $200 on the same starting balance. RBC's 0.50% is also $200, plus tax, and she is above the $1,500 starter threshold. The dollar gap between 0.25% and 0.50% is $100 a year at this balance. It grows as the account grows. At $100,000 the same 0.25-point gap is $250 a year, and Questwealth's rate steps down to 0.20% while Wealthsimple Premium steps to 0.4%. Run the schedule you will actually be on. This is arithmetic, not a ranking of returns, and not a statement that the cheaper fee wins after tax or after behaviour.
What else should you check before you transfer?
Account types differ. Questwealth's page lists RRSP, TFSA, FHSA, RESP, and non-registered. Confirm LIRA, RRIF, and spousal accounts on the application, not on a blog. A transfer is not a withdrawal. Pulling a TFSA to chequing and "putting it back" uses room. The TFSA contribution guide is that mistake. The portfolio the robo builds may hold Canadian-listed ETFs that wrap US funds. You do not get an RRSP treaty exemption by accident. The test is US withholding by account.
CIPF is not a performance guarantee. Justwealth states $1,000,000 through its custodian. Questrade's journaling page says Questrade Inc. is a CIPF member and that Questwealth's manager is not a CIPF member; custody and execution are described as Questrade Inc.'s job. Read cipf.ca for the limit that applies to the dealer that actually holds the securities. A lower fee at a firm you do not understand is not a free reduction.
Frequently asked questions
What is the best robo-advisor in Canada in 2026?
On the published management fee, Questwealth is the lowest of the four firms in the table, at 0.25% and then 0.20%. ETF MERs sit on top, and the fee is not a return. Wealthsimple fits if your tier drops the charge. Justwealth fits if you want the advisor relationship its site describes. RBC InvestEase fits if you want the bank and accept 0.50% plus tax.
Are robo fees tax deductible?
Fees charged to manage investments can be deductible in a non-registered account in some cases, and they are not a deduction inside a TFSA. RRSP fees paid inside the plan are not a personal deduction either. This page will not give you a line number to claim. Confirm with the slip and with CRA's rules for carrying charges. The tax guide on this site is the filing companion, not a receipt.
Is a robo safer than buying XEQT?
Safer is the wrong word. Both can hold equity that falls. A robo can put you in a portfolio with bonds if that is what the questionnaire produces. XEQT is 100% equity unless you choose XGRO or another step on the ladder. The risk is the mix. The fee is what you pay someone to maintain it. Read all-in-one versus DIY before you pay 0.5% to own a fund you could buy for under 0.2%.
Does Questwealth's "up to 50% wealthier" claim belong in the decision?
No. Questrade's own footnote says the claim is a hypothetical comparison of its fees with average mutual-fund MERs over long periods, and that it excludes the conservative portfolio. It is not a forecast that you will be 50% wealthier than a neighbour who bought VGRO. Ignore the slogan. Use the fee table.
What is the minimum?
Questwealth's fee line starts at $250. RBC InvestEase says money is invested once you reach $100, with a simpler portfolio until $1,500. Wealthsimple's pricing page reviewed for this article did not state a managed minimum in the fee table, so this page does not invent one. Justwealth's homepage illustration uses $100,000 and does not, on that page, state an account minimum. Confirm the application.
Should I use a robo for a TFSA and a discount broker for an RRSP?
You can. You will then have two mixes to add up, and two sets of fees. If both accounts hold the same all-in-one ETF, the robo is an expensive way to own the fund you already buy. If the RRSP is where US-listed ETFs go, the self-directed account is doing a job the robo may not offer. Write that down before you split the household.
Sources
- Questwealth Portfolios fees
- Wealthsimple pricing, managed investing
- Justwealth fee illustration and CIPF statement
- RBC InvestEase pricing and how it works
- XEQT fact sheet, for the DIY comparison MER
The management fee is certain. The extra return is not.
Pay for a service you will use. Then get the account and the deduction right. The 2026 tax guide is that half.
Get the 2026 Tax Guide — $49 CAD
