Comparison of Canadian robo-advisors

Robo-advisor services are changing the financial industry.

And the long-term questions are “how much market share robos will ultimately be able to win, and how the disruption could force the traditional advisor community to raise its game,” reports MoneySense.

To help answer those questions, MoneySense compared five of the major digital wealth firms in Canada by breaking down their fees, account minimums, where they’re registered and how they invest. The firms are: BMO SmartFolio, Nest Wealth, Questrade Portfolio IQ, WealthBar and Wealthsimple. As it turns out, all of these robos have advisors or portfolio managers who work with clients, and the highest account minimum across the group is $5,000.

Click here to check out the full chart.

And, for more on whether digital wealth firms are a threat, read: Op-Ed: Robos offer more support than you think

Fintech firms are battling banks—and the banks are winning

4 ways robo-advisors humanize automated tools

5 client trends advisors must understand: IIAC

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.