Best Robo-Advisors in Canada 2026: Fees Compared at Your Balance
On $25,000, management fee plus fund costs. After 20 years adding $250 a month at 5.84% a year before fees (80% stocks, 20% bonds), the cheapest ends with $16,144 more than the most expensive.
- Questwealth Portfolios$90 a yearFee $63 + funds about $28. After 20 years: $179,767, $5,867 in fees.
- RBC InvestEase$171 a yearFee $125 + funds about $46. After 20 years: $170,601, $11,780 in fees.
- Wealthsimple managed$175 a yearFee $125 + funds about $50 (fund cost not published, we assume 0.2%). After 20 years: $171,379, $11,067 in fees.
- Justwealth$175 a yearFee $125 + funds about $50. After 20 years: $170,219, $12,021 in fees.
- CI Direct Investing$200 a yearFee $150 + funds about $50 (fund cost not published, we assume 0.2%). After 20 years: $167,728, $13,576 in fees.
- BMO SmartFolio$244 a yearFee $175 + funds about $69. After 20 years: $163,623, $16,099 in fees.
Turn on JavaScript to change the numbers. The figures shown are for $25,000 plus $250 a month for 20 years at 80% stocks.
The short answer
Questwealth Portfolios was the cheapest robo-advisor we found on October 30, 2026: 0.25% a year under $100,000 and 0.20% above, plus fund costs of 0.09% to 0.12%. On $25,000 that is about $90 a year. Wealthsimple charges 0.5% under $100,000, RBC InvestEase and Justwealth 0.50%, CI Direct Investing 0.60% on the first $150,000 and BMO SmartFolio 0.70% on the first $100,000. Every robo also passes on the cost of the ETFs it buys for you.
The calculator ranks all six by what you pay a year at your balance, management fee plus fund costs, and shows what each leaves you with after the years you choose.
Robo-advisor fees compared
| Robo-advisor | Management fee | Fund costs (MER) | Minimum |
|---|---|---|---|
| Questwealth Portfolios | 0.25% under $100,000, 0.20% above | 0.09% to 0.12% | $250 |
| Wealthsimple managed | 0.5% under $100,000, 0.4% from $100,000, as low as 0.2% from $500,000 | Not stated on the pricing page | None |
| RBC InvestEase | 0.50% | 0.12% to 0.25% | Not stated |
| Justwealth | 0.50%, at least $4.99 a month | About 0.20% on average | $5,000 (none for RESP, FHSA, RDSP) |
| CI Direct Investing | 0.60% to $150,000, 0.40% to $500,000, 0.35% above | Not included in the fee, not stated | Not stated |
| BMO SmartFolio | 0.70% on the first $100,000, down to 0.40% | 0.20% to 0.35% | $1,000 |
Management fees from each provider’s pricing page, checked October 30, 2026. Where a provider does not publish the cost of the ETFs it uses, the calculator assumes 0.20% and says so.
What you are paying for
A robo-advisor asks about your goals and comfort with risk, puts you in a portfolio of low-cost ETFs, reinvests what you add and rebalances when the mix drifts. You pay two layers: the robo’s management fee, and the management expense ratio (MER) of the ETFs inside your portfolio. Questrade says the ETFs in Questwealth Portfolios have portfolio MERs of 0.09% to 0.12%; RBC InvestEase says 0.12% to 0.25%; BMO SmartFolio says 0.20% to 0.35%; Justwealth says about 0.20% on average.
Whole-balance tiers and blended tiers
The fee structures work differently. Questwealth and Wealthsimple charge one rate on your whole balance, set by which tier you are in: cross $100,000 at Questwealth and the whole account drops to 0.20%. BMO SmartFolio charges by slice: 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. CI Direct Investing applies a blended rate across its tiers. The calculator handles both kinds.
Minimums
Questwealth needs $250 to start, BMO SmartFolio $1,000 and Justwealth $5,000 (no minimum for RESPs, FHSAs and RDSPs). Justwealth also charges at least $4.99 a month, which works out to more than 0.50% on balances under about $12,000. Wealthsimple has no minimum.
Is a robo-advisor worth the fee?
A robo-advisor costs more than buying one all-in-one ETF yourself, and less than most mutual funds. On $50,000, a 0.5% fee is $250 a year, while a 0.18% all-in-one ETF costs about $90 in total. What the fee buys is automation and a guardrail: deposits are invested on schedule and you are less likely to sell in a panic. If you would actually buy and hold one ETF yourself, that is cheaper. Our robo vs DIY comparison runs the numbers side by side.
How the calculator works
Each month the balance grows by the expected return, the robo’s fee and the fund costs are taken as one-twelfth of the yearly rate on the current balance, then your monthly deposit is added. The tier is recalculated every month, so a growing balance can move into a cheaper tier. Expected returns come from the FP Canada and Institute of Financial Planning 2026 Projection Assumption Guidelines: 6.3% for Canadian stocks, 6.4% for US, 6.6% for international developed and 7.5% for emerging markets, which we blend to 6.5% using VEQT’s September 2026 regional weights, and 3.2% for bonds. They are long-term planning figures, not predictions.
Frequently asked questions
What is the cheapest robo-advisor in Canada?
In our October 30, 2026 check, Questwealth Portfolios charged the lowest management fee: 0.25% under $100,000 and 0.20% above, with fund costs of 0.09% to 0.12%. On $25,000 that is about $90 a year in total.
How much does Wealthsimple charge for managed investing?
Wealthsimple charges 0.5% a year under $100,000 in assets, 0.4% from $100,000, and 0.2% to 0.4% for Generation clients from $500,000. The fund costs inside the portfolios are not stated on its pricing page.
What is the difference between a management fee and an MER?
The management fee is what the robo-advisor charges for running your account. The MER is the cost of the ETFs it buys for you, taken inside each fund. You pay both.
Is a robo-advisor better than buying an ETF myself?
It costs more. One all-in-one ETF bought at a $0-commission brokerage costs only its MER, about 0.18% to 0.22%. A robo adds 0.20% to 0.70% a year in exchange for automatic investing and rebalancing.
- Pricing pages, checked October 30, 2026: Questwealth Portfolios; Wealthsimple managed; RBC InvestEase; Justwealth; CI Direct Investing; BMO SmartFolio.
- FP Canada and Institute of Financial Planning, 2026 Projection Assumption Guidelines, April 16, 2026; VEQT fact sheet (regional weights), September 30, 2026. Checked October 30, 2026.
- Method: monthly simulation, fees deducted monthly on the current balance; results checked against a separate implementation.
General information, not investment, tax or legal advice. Fees and rules change; confirm with the provider and the official sources above before you act. Gizly is not affiliated with any provider named here and has no affiliate links on this page. See how we check the numbers and our disclosure.