Robo-Advisor or DIY? The Best Ways to Invest in Canada

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There are two low-cost ways to invest in Canada today. You can let a robo-advisor build and rebalance a portfolio for you, or you can buy ETFs yourself.

Both beat most high-fee mutual funds on cost. The right one depends on how much you want to be involved, and how much a small fee is worth to you.

Quick answer: A robo-advisor suits most people who want to invest without making decisions; fees run from 0.20% to 0.50% a year plus fund costs, as of September 2026. DIY investing costs less, since the brokers we checked charge $0 commission on ETF trades, but you choose, buy and rebalance on your own. If you are unsure, start with a robo-advisor and switch later.

Updated on September 23, 2026 · Sources: Wealthsimple, Questwealth, RBC InvestEase, Justwealth

Key takeaways

Robo-advisor management fees range from 0.20% to 0.50% a year, before the fees inside the ETFs.
DIY at a $0 commission broker costs only the ETF fees and any currency conversion.
On $10,000, a 0.50% fee is $50 a year; a 0.25% fee is $25 a year.
The biggest DIY risk is behaviour: selling in a panic or never rebalancing.

Robo-advisor vs DIY: side by side

Criterion	Robo-advisor	DIY (self-directed)
Yearly cost	0.20%–0.50% + fund fees	Fund fees only
Minimum to start	$1 to $5,000	Price of one ETF unit
Picking investments	Done for you	You choose
Rebalancing	Automatic	Manual
Human help	Portfolio advisors available	Mostly none
Behaviour risk	Lower	Higher

Fees as of September 2026, from each provider’s official page.

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Robo-advisor fees compared

Robo-advisor	Management fee	Minimum
Wealthsimple Managed	0.5% (Core); 0.4% at $100,000+	$1
Questwealth Portfolios	0.25%; 0.20% at $100,000+	Fee tier starts at $250
RBC InvestEase	0.50% + sales tax	Invests from $100
Justwealth	0.50% (on its $100,000 example)	$5,000 (none for RESP, FHSA)

Management fees only. Fund fees are extra: RBC InvestEase lists 0.12% to 0.25%; Justwealth says about 0.20% on average; Questwealth’s all-in example is 0.37% for its Balanced portfolio. Wealthsimple does not list fund fees on its managed investing page. Listed in no particular order.

Cost: DIY wins

A robo-advisor charges a management fee on top of the ETF fees. DIY skips the management fee. At Questwealth’s 0.25%, a $50,000 portfolio pays $125 a year; at 0.50%, it pays $250.

DIY still has costs. Wealthsimple charges a 1.5% conversion fee on US-listed securities bought from a Canadian-dollar account, and BMO InvestorLine lists a 1.6% spread on conversions under $25,000. Buying Canadian-listed ETFs avoids that. Our list of investment apps for beginners compares brokers side by side.

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Both routes are far below the 2.00% typical mutual fund fee that Justwealth cites from the Ontario Securities Commission. Canada’s Financial Consumer Agency notes that some provincial regulators offer free calculators for the impact of fees.

Ease of starting: robo-advisor wins

A robo-advisor asks about your goals and risk comfort, then picks the portfolio. Wealthsimple starts at $1, and RBC InvestEase invests your money once the balance reaches $100. Justwealth needs $5,000 for most accounts but has no minimum for RESP and FHSA accounts.

DIY means choosing your own funds. If you go that way, our guide to ETFs for Canadian beginners explains what to look at first.

Rebalancing and discipline: robo-advisor wins

Markets move your mix away from your target. A robo-advisor rebalances automatically; RBC InvestEase says its fee covers buying investments, rebalancing and access to its Portfolio Advisors.

In DIY, you rebalance by hand. The harder part is not selling during a drop. Investing involves risk, and a portfolio can lose value in any year.

Control and choice: DIY wins

DIY lets you buy any stock or ETF your broker offers. A robo-advisor limits you to its own model portfolios. Justwealth says it has over 80 portfolio models, but you still don’t pick individual funds.

Protection: a tie

Both routes can be covered by the Canadian Investor Protection Fund, which protects client property up to $1 million per account category if a member firm fails. Justwealth says its custodian, CI Investment Services Inc., is a CIPF member, and Wealthsimple and Questrade state the same for their investing firms. CIPF never covers market losses.

Verdict by profile

Choose a robo-advisor if you want to set it and forget it, or if you know you might panic in a downturn.
Choose Wealthsimple Managed if you are starting small and want everything in one app; see our Wealthsimple review.
Choose Questwealth if management cost matters most among the robo options.
Choose RBC InvestEase if you bank with RBC and want published fund fees next to the management fee.
Choose Justwealth if you want more portfolio models and have $5,000, or are opening an RESP or FHSA.
Choose DIY if you are comfortable picking a few broad ETFs and rebalancing once or twice a year.

Whichever you pick, keep short-term money out of the market. An emergency fund belongs in a high-interest savings account.

How we compared

Checked: every fee and minimum on September 23, 2026, on each provider’s official page.
Order: no overall ranking. We name a winner per criterion; the Quick answer gives our default for most readers.
Criteria: cost, ease of starting, rebalancing, control and protection.
Limits: management fees shown are the published rates; your all-in cost also includes fund fees.
Independence: no provider paid for placement.

Not financial advice. Investing involves risk, including loss of principal. Past returns don’t guarantee future results. Fees checked on September 23, 2026 with each provider’s official page; confirm before opening an account.

FAQ

Is a robo-advisor worth the fee?

For many beginners, yes. The fee buys a diversified portfolio, automatic rebalancing and fewer chances to make emotional mistakes. If you would manage a simple ETF portfolio calmly, DIY costs less.

What is the cheapest robo-advisor in Canada?

Among the four we checked, Questwealth has the smallest published management fee: 0.25% on $250 to $99,999 and 0.20% at $100,000 or more, as of September 2026. Fund fees come on top.

Can I hold a robo-advisor in a TFSA or RRSP?

Yes. Wealthsimple, for example, offers managed portfolios in TFSA, RRSP, FHSA and other accounts. Check each provider for the accounts it supports.

Can I switch from a robo-advisor to DIY later?

Yes, but ask about transfer fees. Questrade, for example, charges $150 to transfer an account out and rebates up to $150 when you transfer in.

How much do I need to start DIY investing?

Enough for one ETF unit plus any fees. The brokers we checked charge $0 commission on ETF trades.

For the full picture, see our hub TFSA / RRSP / FHSA Guide 2026, the TFSA limit for 2026 and the mistakes to avoid and the RRSP deadline and limits for 2026.

Sources

Ieveera SEO is an independent publisher, not a bank or financial advisor; content is for information only and may include paid affiliate links that never affect our rankings — always confirm current rates and terms with the provider. Rates shown in CAD; verify with the issuer. Investing involves risk, including loss of principal. Not investment advice. Past returns don’t guarantee future results.