There are various account options, including TFSA, RRSP, LIRA, and RRIF, and an investment account for business owners.īest for: If you’re looking for simplicity, then Wealthsimple is what you need. Wealthsimple selects a portfolio for you based on the answers given in the signup questionnaire that generates your tolerance to risk. As an investor, you can’t choose your portfolio. What they do: Wealthsimple has three principal portfolios, namely growth, conservative, and balanced.
Their interface is user-friendly, and they’re accessible to all investors, as there’s no minimum investment amount. This Toronto-based robo advisor has over $5 billion in assets under management. No transfer fees or charges to open or close an account.2% on account balances greater than $100,000.These portfolios can get used in different accounts offered, such as RRSPs, TFSAs, cash, etc.īest for: Questwealth Portfolios is best suited for Canadians who prefer to get involved in their own investments, so their platform got designed for the more experienced investors, although anyone can use their platform, including beginners. What they do: Questwealth has combined technology with human interaction to create five ETF portfolios that get actively managed – Aggressive, Growth, Income, Balanced, and Conservative. With reduced fees, they are easy to use and provide a robust investing experience. The robo advisor option is popular and rebranded to Questwealth Portfolios in 2018. Questrade is one of the largest independent brokerages in Canada and is known for its discount brokerage.
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