A robo-advisor builds you a diversified ETF portfolio, rebalances it automatically and reinvests dividends — for a fraction of what a human advisor or a bank mutual fund charges. In 2026 the headline management fees run from 0.20% to 0.50% a year, but the fee you actually pay also includes each ETF’s MER (management expense ratio). This guide compares the real all-in costs, account minimums and referral bonuses of Canada’s leading robos.
How robo-advisor fees actually work
Two fees stack on every robo portfolio:
- Management fee — what the robo charges (0.20%–0.50% of assets per year in 2026).
- ETF MER — what the underlying ETFs charge (roughly 0.15%–0.25% for the index ETFs most robos use).
Add them for the all-in cost: roughly 0.42%–0.47% at Questwealth versus 0.65%–0.75% at Wealthsimple on balances under $100,000. That gap is the single biggest differentiator between platforms.
Robo-advisor comparison: fees, minimums, bonuses
| Robo-advisor | Management fee | Minimum | Est. all-in cost | Referral / sign-up bonus | |
|---|---|---|---|---|---|
| Questwealth Portfolios (Questrade) | 0.25% under $100K; 0.20% at $100K+ | $1,000 | ~0.42%–0.47% | $50 referee bonus (min. $250 funded in 60 days); $150 transfer-fee rebate; referrers earn per referral up to 30/year; rewards count as contributions in registered accounts | Official site |
| Wealthsimple Invest | 0.50% up to $100K; 0.40% above $100K | $0 | ~0.65%–0.75% | $25 each side; min. $100 external deposit within 30 days (tiered ladder closed June 8, 2026); stacks with the 1% transfer match on $25K+ moves | Official site |
| Nest Wealth | 0.35% (min $5/mo, max $150/mo) | $1,000 | ~0.50%–0.60% | None advertised | Official site |
| Justwealth | 0.40%–0.50% (min $2.99–$4.99/mo) | $5,000 | ~0.55%–0.75% | None advertised | Official site |
| RBC InvestEase | 0.50% | $100 | ~0.65%–0.75% | None advertised | Official site |
| ModernAdvisor | 0.20%–0.50% (min $2.50/mo) | $1,000 | ~0.35%–0.75% | None advertised | Official site |
Fees verified against MoneySense, Savvy New Canadians and provider disclosures in early October 2026. All-in estimates add typical ETF MERs of ~0.15–0.25% and are illustrative.
Worked example: what 0.25% costs over 30 years
On a $100,000 portfolio growing at 7% gross per year for 30 years with no further contributions:
- All-in cost ~0.45% (Questwealth-style): ends near $670,816.
- All-in cost ~0.70% (Wealthsimple-style): ends near $625,170.
- The gap: about $45,600 — nearly half the starting portfolio — from a fee difference of one quarter of a percentage point.
These are illustrative estimates (constant returns never happen), but the direction is exact: fees compound against you just as relentlessly as returns compound for you. See how far your portfolio could grow at your expected return with our retirement savings calculator.
Small balances flip the script: on $5,000, the annual fee gap between the two leaders is about $12.50 — pick on features, app quality and account types instead of fees until the balance grows.
Beyond fees: what actually differs
- Account types: both leaders cover TFSA, RRSP, RESP, FHSA and non-registered accounts. Questwealth adds LIRA, LIF, RRIF, corporate and margin accounts for complex situations.
- Human advice: Wealthsimple includes unlimited access to human financial planners in its management fee; Questwealth pairs its robo with Questrade’s broader support.
- Values-based portfolios: both offer socially responsible options; Wealthsimple also offers halal portfolios.
- Strategy: Wealthsimple is strictly passive (match the market); Questwealth blends active and passive management.
- Ecosystem: Wealthsimple bundles chequing, a credit card, crypto and tax filing in one app; Questwealth sits inside Questrade’s full brokerage with advanced trading tools.
Referral bonuses, honestly
Both leaders pay to acquire you — and the fine print matters. Wealthsimple’s old tiered ladder (up to $2,000 per referral) closed on June 8, 2026; the current offer is a flat $25 each side on a minimum $100 external deposit, with a 180-day hold on the bonus. Questrade’s refer-a-friend pays the referee $50 (fund at least $250 within 60 days), rebates transfer fees up to $150, and lets referrers earn on up to 30 referrals a year — but referral rewards deposited into a TFSA, RRSP, FHSA or RESP count as contributions, so mind your room. Both stack with larger transfer promotions (Wealthsimple’s 1% match on $25,000+ moves is the big one).
Frequently asked questions
Which robo-advisor has the lowest fees in Canada in 2026?
Questwealth Portfolios has the lowest headline management fee among major robos: 0.25% under $100,000 and 0.20% above, for an estimated all-in cost of about 0.42%–0.47% including ETF MERs. ModernAdvisor can match 0.20% at higher balances but has a $2.50/month minimum fee.
What are Wealthsimple's robo-advisor fees in 2026?
Wealthsimple Invest charges 0.50% on balances up to $100,000 and 0.40% above $100,000, with no account minimum. Adding typical ETF MERs of 0.15%–0.25% brings the estimated all-in cost to roughly 0.65%–0.75%.
How much does a 0.25% fee difference cost over 30 years?
On a $100,000 portfolio at 7% gross annual return, an all-in cost of 0.70% versus 0.45% leaves roughly $45,600 less after 30 years (about $625,170 vs $670,816) — illustrative estimates, but the compounding math is exact.
What is the minimum to open a robo-advisor account in Canada?
Wealthsimple has no minimum. Questwealth and Nest Wealth require $1,000, ModernAdvisor $1,000, RBC InvestEase $100, and Justwealth $5,000.
Do Questrade referral bonuses count as TFSA contributions?
Yes — Questrade's refer-a-friend terms state that referral rewards are considered contributions for registered accounts (TFSA, RRSP, RESP, FHSA) and deposits for non-registered accounts, so ensure you have contribution room before the bonus lands.
Is Wealthsimple's $25 referral bonus still available in 2026?
Yes, but the old tiered ladder (up to $2,000) closed June 8, 2026. The current offer is a flat $25 to each side on a minimum $100 external deposit within 30 days, with a 180-day hold before the bonus can be withdrawn.
Sources and methodology
- MoneySense: the best RRSPs in Canada for 2026 (robo fees)
- Savvy New Canadians: Questwealth vs Wealthsimple fee comparison (2026)
- Vibrant Dreamer: best robo-advisors in Canada 2026 (fee table)
- Questrade: Refer a Friend promotion terms (official)
- Wealthsimple: Referral Bonus Promotion terms 2026 (help centre)
This article provides general information, not financial advice. Rates, fees, bonuses and promotions change frequently — confirm current terms with the provider before applying. Referral and affiliate programs are subject to each provider’s terms and eligibility rules.