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1. Canada About Blog The Motley Fool (fool.ca) offers stock market and investing advice, showing people how to take control of their money and make better financial decisions. Follow this website to get stock investment advice with the sole intention of helping you take control of your own money and make better financial decisions. Frequency about 168 posts per week. Also in Website Facebook fans 13,661. Twitter followers 2,196. 2.
Canada About Blog Building Wealth through Saving and Investing. A popular personal finance blog that follows the journey of a young Canadian on his goal of attaining $1M in net worth by the age of 35. The intention of this site is to help and educate those who are interested in personal finance and investing.
Follow this site to get daily educational article topics include, investing, frugal tips, tax strategies and real estate. Frequency about 2 posts per month. Since Dec 2006 Also in Website Facebook fans 2,088. Twitter followers 8,112. 3. Ottawa, Canada About Blog Saving and investing my way to a million dollar portfolio. Mark Seed is one of Canada's leading personal finance and investing bloggers.
As my own DIY financial advisor, I've grown our portfolio from $100,000 to well over $500,000. Our next big goal is to own a $1 million investment portfolio for an early retirement.
Follow me as I write about my saving and investing journey. Frequency about 2 posts per week. Since Dec 2009 Website Facebook fans 800. Twitter followers 5,287. 4. Canada About Blog WealthBar is private wealth management for the rest of us.
Financial experts ensure that every portfolio and investment helps clients reach their financial goals. Our expert technology team designs, and creates the smoothest, easiest, and most amazing investing and personal financial planning experience possible. Follow this blog to get financial advice and news. Frequency about 3 posts per month. Since Jul 2013 Also in , Website Facebook fans 4,659. Twitter followers 4,600. 5. Canada About Blog Since 1981, Invesco has played an integral role in the lives of Canadian investors from coast to coast.
Today, we remain committed to helping investors achieve their long-term financial goals. We fundamentally believe investors achieve better results when they work with a professional advisor. Investing Expertise from a financial and Investing company in Canada. Follow this blog and get recent up to date financial news from Invesco Canada perspective.
Frequency about 1 post per week. Since Jan 2012 Website Facebook fans 992. Twitter followers 9,009. 6. Vancouver About Blog ModernAdvisor is a next-generation financial advisor that is disrupting investment management in Canada. The company complements expert investment insights with proprietary algorithms and an interactive website to bring sophisticated and low-cost investment management to every Canadian.
Follow this blog to get resources for better investing, personal finance and Canadian market news. Frequency about 2 posts per month. Since Feb 2014 Website Facebook fans 1,017. Twitter followers 1,550. 7. Canada About Blog Author of Millionaire Teacher & The Global Expatriate’s Guide To Investing. Before my 20th birthday, I started to invest. Along the way, I learned some vital financial lessons.
And as I started to succeed, financially, I grew more baffled at the absence of sound financial lessons in schools. Follow my blog as I share my investment journey with you. Frequency about 3 posts per month. Since Jan 2009 Website Facebook fans 3,533.
Twitter followers 13,730. 8. Vancouver BC About Blog Welcome. This is a finance blog based out of Vancouver, B.C. that will feature news and commentary related to personal finance, investing, and economics.
The site began in 2010 as a public diary to track one blogger’s journey to become financially independent when he turns 35 years old. It has since also become a social hub of like minded readers and commentators interested in personal finance. Follow this blog to get ideas on personal finance, investing and more. Frequency about 1 post per week. Since Nov 2010 Website Facebook fans 1,636.
Twitter followers 2,750. 9. Toronto, Canada About Blog Robin Speziale is the author of the National Bestseller, Market Masters, featuring exclusive conversations with Canada's top investors, as well as Capital Compounders (pickup your free copy here) and Lessons From the Successful Investor.
Robin has been saving, investing, and building his portfolio since 18. He built a $300,000 Stock Portfolio before 30. Follow this blog to get best insights on canadian investments. Frequency about 2 posts per month. Since Sep 2009 Website Facebook fans 59. Twitter followers 2,010. 10. Toronto, Canada About Blog Canadian Portfolio Manager helps new and seasoned DIY investors implement and manage their very own ETF portfolio.
Follow this blog and get help to build better portfolios. Frequency about 1 post per month. Since Sep 2014 Website Facebook fans n/a. Twitter followers 1,572. 11. London, Ontario, Canada About Blog I'm the founder of MoneyGeek, and the author of 'The Short Book on Investments For Canadians'.
I'm passionate about investing, and you can see my unaudited personal track record on my personal website at www.jinchoi.ca. True financial security comes from learning to invest yourself.
Follow this blog and get toolbox and guidance for DIY investors. Frequency about 1 post per month. Since Mar 2013 Website Facebook fans n/a. Twitter followers 204. 12. San Francisco, CA About Blog Canadians Interested in investing and looking at opportunity in the market besides being a potato. Discussion would be geared around any investment opportunities a Canadian has access to. Questions regarding individual companies, ETFs, Tax implications, Index Investing, and more... Frequency about 56 posts per week.
Website Facebook fans 1,148,439. Twitter followers 509,110. 13. Ontario, Canada About Blog This blog is designed for Canadians who want to learn more about investing using index mutual funds and exchange-traded funds (ETFs). Frequency about 1 post per month. Since Jan 2010 Also in Website Facebook fans 367. Twitter followers 9,096. 14. Calgary Alberta Canada About Blog Stocktrades provides stock,personal finance and investing information to beginning and intermediate investors.
Start making your money work for you today. Frequency about 2 posts per month. Website Facebook fans 595. Twitter followers 2,659. 15. About Blog Financial Wisdom Forum – Where Canadian investors meet for financial education and empowerment. There are two symbiotic elements to FWF, our wiki, finiki, the Canadian financial wiki and our discussion forum.
The wiki is a knowledge base of financial subjects for Canadian investors.The discussion forum is where FWF members carry on discussions about everything related to Canadian financial matters Frequency about 1 post per month.
Since Jan 2014 Website Facebook fans n/a. Twitter followers n/a. 16. Alberta, Canada About Blog Financial Uproar is a personal finance/investing blog with one stated goal: if you read and implement our strategies, you'll end up richer. Read and you will get richer. Frequency about 2 posts per month. Since Dec 2014 Website Facebook fans 275. Twitter followers 1,946. 17. Canada About Blog Purpose Investment is a leading funds provider that gives Canadians access to actively managed low-fee ETFs and funds that have been previously out of reach.
Purpose Investments is not just another investment management company. We set out to build a business that creates value, and a positive social utility.
We believe that the investor comes first, in all decisions. Frequency about 3 posts per month. Since Feb 2013 Website Facebook fans 150. Twitter followers 663. 18. Kitchener Ontario About Blog Canadian MoneySaver is an acclaimed investment advisory with a recognized reputation for providing a trustworthy and down-to-earth service since 1981.
Frequency about 1 post per month. Since Feb 2013 Website Facebook fans 668. Twitter followers 1,491. 19. About Blog We Make Dividend Investing and Value Investing Easy. Online course teaching you how to become a value investor with a focus on dividends. A beginner’s course in investing safely, learn the basics and more. Frequency about 1 post per month. Since Dec 2010 Website Facebook fans 463. Twitter followers 2,783.
20. Toronto About Blog The Blunt Bean Counter is a tax expert who shares twenty-five years of experience in his tax blog. This blog is meant for everyone, but in particular for high net worth individuals and owners of private corporations. The views and opinions expressed in this blog are written solely in my personal capacity and cannot be attributed to the accounting firm with which I am affiliated.
Frequency about 2 posts per month. Since Sep 2010 Also in Website Facebook fans n/a. Twitter followers 1,228. 21. Canada About Blog The Responsible Investment Association (RIA) is Canada’s leader on responsible investment (RI). We are a national, membership-based organization composed of financial institutions, mutual fund companies, investment firms, financial advisors, and various organizations and individuals who practice and support responsible investing.
Frequency about 2 posts per month. Website Facebook fans 251. Twitter followers 1,816. 22. Vancouver, B.C. About Blog Steadyhand offers concentrated, no-load mutual funds directly to Canadian investors. Steadyhand offers a better way to invest.
Our funds, investment strategy and advice are focused on producing higher client returns and a simpler, more human experience.
We believe that investing doesn't have to be as painful and stressful as it often is. Frequency about 3 posts per month. Since Jun 2006 Website Facebook fans 204. Twitter followers 1,656. 23. About Blog Canadian Investor Magazine is an e-publication reporting on investment opportunities in Canada. The magazine provides a multi-media platform from which we profile publicly traded companies and provide analysis on various industries including: agriculture, construction, finance, technology, transportation, and real estate.
Frequency about 56 posts per week. Since Mar 2016 Website Facebook fans 138. Twitter followers 581. 24. Toronto About Blog Investmentreview.com is Canada's top destination for institutional investors. Here, Canada's leading finance experts provide insight and analysis through news, blogs and conference coverage Frequency about 1 post per week. Website Facebook fans n/a. Twitter followers 2,196. 25. Barrie Ontario, Canada About Blog Investment Analysis | Wealth Management | Portfolio Management - Limit Your Risk.
Keep Your Money. ValueTrends Wealth Management is a leading investment analysis & portfolio management firm offering long-term asset management solutions for investors. Frequency about 1 post per month. Since Apr 2011 Website Facebook fans 1. Twitter followers 2,498. 26. Canada About Blog Canadian financial daily news, opinions, investment advice, and related videos for the every day cash-conscious canuck.
Frequency about 1 post per month. Since Oct 2009 Website Facebook fans n/a. Twitter followers n/a. 27. Canada About Blog We are an investment management company exclusively focused on managing investment solutions for Canadians. We believe that we can build your wealth by focusing on high-quality, attractively valued securities over the long term.
Frequency about 1 post per month. Since Aug 2013 Website Facebook fans n/a. Twitter followers 459. 28. Toronto About Blog We are an independently owned investment management firm providing customized wealth management to a select group of Canadians, committed to meeting the needs of our clients by endeavouring to protect their capital and by building their wealth over time.
Frequency about 3 posts per month. Since Jan 2010 Website Facebook fans n/a. Twitter followers 3,329. 29. Oakville About Blog A boutique wealth management and investment counselling firm for Canadian families and foundations, we customize solutions for sustainable wealth.
We were among the first Canadian investment professionals to successfully implement the outsourced CIO model to the benefit of our affluent family clients and the foundations they support.
Frequency about 1 post per month. Since Oct 2000 Website Facebook fans 24. Twitter followers 819. 30. Toronto About Blog I'm a fee-only financial planner that teaches ordinary people how to invest their own money online in sustainable investment funds.
As an expert on socially responsible investing, impact investing, and the green economy, I've been regularly featured in publications such as Reuters, Advisor’s Edge Report, MoneySense, and The Exchange with Amanda Lang.
Frequency about 1 post per month. Since Nov 2012 Website Facebook fans 883. Twitter followers 1,899. 31. Canada About Blog I am a Professional Engineer & MBA from Canada. I am passionate about value investing and find most value investors don't understand what value investing really means. All investment ideas will be simple and have a margin of safety.
If you are looking for true deep value investing insights and stock analysis, you've come to the right blog. Frequency about 1 post per month. Since Oct 2010 Website Facebook fans n/a. Twitter followers 8. 32. Canada About Blog Hi, I’m the Passive Income Earner. I also go by other names, such as Canadian Dividend Growth Investor. I’m based in Canada and I’m on a journey to build a passive income with dividends. In this blog, I share my experience in personal finance and investing, including mistakes I made and lessons learned.
Occasionally, I will also write about financial and investing concepts I learn. Follow this blog to know about my journey on passive income through dividends.
Frequency about 1 post per month. Since Jun 2013 Also in , Website Facebook fans n/a. Twitter followers n/a. 33. Edmonton Canada About Blog This Blog explores how Individual Investors might benefit from Institutional Investor practices. The premise of this Blog is that if Individual Investors don’t have a plan, then they can then mimic a Pension Plan and piggy-back off of all the work that Pension Plans do.
Frequency about 1 post per month. Since Jan 2007 Also in Website Facebook fans n/a. Twitter followers 72. 34. Canada About Blog This web site is dedicated to investment fund investor education and protection. The multi-billion fund industry plays a key role in the savings and retirement plans of millions of Canadians. Many industry practices provide beartraps for the unsuspecting investor and securities regulations have not kept up with the pace of change in the industry.
Frequency about 1 post per month. Since Sep 2010 Website Facebook fans n/a. Twitter followers n/a. 35. Ottawa, Canada About Blog News and views on the world of socially responsible investing in Canada, including original content related to social, environmental, human rights and corporate governance issues.
Written and maintained by a Toronto-based financial advisor and an Ottawa-based writer/editor. Frequency about 1 post per month. Since Jan 2009 Website Facebook fans n/a. Twitter followers 683. These blogs are ranked based on following criteria • Google reputation and Google search ranking • Influence and popularity on Facebook, twitter and other social media sites • Quality and consistency of posts.
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332 Shares In today’s world, putting money into a traditional savings account just isn’t enough to cut it. You can scrimp and save for decades and still not end up with enough money for your retirement. In order to build up enough wealth to meet your long-term goals, you need to invest your money. Thanks to technology, it’s surprisingly easy to invest for the long term. The rise of robo-advisors in Canada provides a simple way for you to “set it and forget it” as you strive to create a nest egg.
But what is a robo-advisor? And can you trust a computer with your money? The good news is that robo-advisors offer a cost-efficient and easy way to start investing.
Read on, and I’ll answer all your questions about Canadian robo-advisors — and even provided reviews of my top choices. What is a Robo-Advisor? Let’s start with the basics. A is a company that takes your money and invests it automatically in a portfolio that reflects your risk tolerance.
Your portfolio is created using exchange-traded funds (ETFs), which are similar to mutual funds but trade like stocks on the exchange. It’s important to understand that robo-advisors aren’t actually robots.
Instead, it’s all about the automatic investment according to time-tested investment theories. Most robo-advisors adhere to Modern Portfolio Theory (MPT), the management style put forth by Nobel Prize winner Harry Markowitz. The idea is to focus on asset allocation instead of individual stocks.
When you talk to a “real” financial advisor or money manager, they, too, will use MPT to help you put together a portfolio. They are likely to use actively-managed mutual funds and may even try to pick individual stocks on your behalf. With a robo-advisor, though, the process is automated, based on your own profile, time horizon, and goals. And, instead of actively managed funds and individual stocks, robo-advisors tend to favour index ETFs.
And, finally, let’s be clear. With Canadian robo-advisors, you’re not being shuffled off to a heartless robot. In fact, these companies are run by actual human beings — usually very knowledgeable humans with impressive backgrounds. They handle your customer service, tweak your portfolio, and make sure the computer’s algorithm and chosen portfolio still make sense for you. In many cases, the people behind the robo-advisors construct the portfolios that you automatically invest in each month.
Why are Index ETFs so Great? Most robo-advisors in Canada use . So, why are these investment vehicles better than actively managed mutual funds or stock picking?
Well, because human beings, research shows, are terrible at choosing the right investments. Index investments, on the other hand, follow the performance of a wide swath of the market. You can even find index investments that track the entire market at once. With an index fund, you get access to the performance of a huge portion of the market as a whole. That means that it’s less about whether or not a single stock or bond is doing well and more about how the market overall is doing.
Since the market as a whole has never come up negative in any 25-year period, when you have a long time horizon (as you do when saving up for retirement), you aren’t likely to lose out with a diversified mix of index investments. Index ETFs are used by many robo-advisors in Canada because they not only provide some of the best chances for long-term wealth-building but also because they are low-cost.
ETFs are very cost-efficient, usually with . And, of course, this also means that you can get a lower-cost product than you would by using a more traditional investment advisor. What Do Robo-Advisors Do? A robo-advisor is perfect if you want to start investing, but you aren’t sure where to begin. You know you need to set money aside for the future, but you might be concerned about how many choices there are.
Or maybe you don’t feel like you have the time to do all the research needed to pick the right investments for your situation. Robo-advisors are designed to help. A robo-advisor will figure out an appropriate asset allocation (the combination of stocks, bonds, GICs, and other assets), and then automatically apportion your monthly contribution to the chosen assets, in the form of ETFs.
Basically, you agree to invest a set amount of money each month and the robo-advisor automatically puts it where it will do the best as it grows. Most Canadian robo-advisors also include the opportunity to talk to someone (or at least to email or live chat) about situations as they arise. Here are five things you can usually expect from most robo-advisors in Canada: • Access to a wide range of index ETFs that are cheaper and better options than most actively managed mutual funds.
• Straightforward contribution choices available for a variety of accounts, including RRSP, TFSA, and RESP. • Simple and “light” advice, depending on the company, and usually access to human customer service to answer your questions. • Websites that are intuitive, easy to use, and visually appealing. • Services like automatic rebalancing that help you stay on track with your long-term investment goals.
The great thing about a robo-advisor is that it costs a fraction of what many other investment advisors charge. You might pay fees upward of 3% a year with a more traditional advisor. With a robo-advisor, your fees might be much lower — closer to 1% a year (or less). That means more of your money goes toward building your wealth. Now, it’s true that you won’t get highly customized service with robo-advisors.
Instead, you’ll get an asset allocation that generally works for you, using broad-based portfolios designed for different situations and time horizons. However, for those getting started, and those who want a long-term solution, a robo-advisor can be a great tool. You can fill in other financial and estate planning issues later when you have more assets or the need for instruments like trusts and wills. How Safe are Robo-Advisors?
No investment is ever completely safe. There will always be periods when an investment loses value, no matter what it is or where you keep it. However, Canadian robo-advisors are just as safe as the next investment. In some ways, a robo-advisor is safe than your traditional active mutual fund manager. First of all, the fact that most robo-advisors in Canada use index ETFs is a point in their favour. Index investments, as mentioned above, focus on large swaths of the market.
So, as market performance improves over time, so does your portfolio. There are periods of downturn, and market events are very real. However, if you look at a long-term trend line, you will see that market performance smooths out over periods of decades.
Ride out a stock market downturn, and there’s a good chance you can lock in gains later. Next, realize that all the reputable Canadian robo-advisors use investment dealers that are members of the Canadian Investor Protection Fund (CIPF).
That means your investments account is protected from dealer insolvency — which doesn’t happen very often anyway. Your assets are protected from problems with dealers and robo-advisors (even if you can’t fully protect your money from the vagaries of the economy and the stock market).
And don’t forget that robo-advisors use investment methods that have been time-tested for decades and are considered suitable for most people. Plus, in many cases, robo-advisors adhere to a fiduciary standard with their clients’ money. That means they have to put your interests first. In the end, your money is pretty safe with a robo-advisor. At least, it’s probably safer than it would be if you picked your own stocks, or even if you had a professional managing a high-cost actively-managed mutual fund.
Couldn’t You Just Do All This Yourself? True story. Nothing robo-advisors do is nothing you couldn’t do yourself. In fact, most Canadian robo-advisors are so transparent that you can see a list of everything in your portfolio. If you wanted to, you could simply account and then buy shares of the index ETFs listed, in the same proportions as are recommended for you. However, the appeal of a robo-advisor is the fact that you don’t have to do any of the legwork.
You pay a little extra in management fees (although not nearly what you pay a traditional advisor) for the convenience of having it all taken care of for you. So, why do I recommend robo-advisors to most people if they can do it for themselves and do it a bit cheaper? Simply because most people won’t actually do it.
It’s common for would-be DIY investors to research and read and swear that they will start investing — and then do nothing. The reality is that taking the first step is harder than it looks, and not everyone likes managing their portfolios, even if there isn’t a ton of management necessary. When you take on DIY index investing, the truth is that you have to be ready to rebalance your portfolio between two and four times a year.
You have to evaluate the ETFs and the asset allocation you choose to see if they are still working for you. Most young Canadians, though, are not. In fact, most people don’t want to manage their own investments. They want a simple way to automatically invest a set amount of money each month, and then they want someone else to take care of it.
And they don’t want to pay an arm and a leg for the service, either That’s what a robo-advisor does. Robo-advisors free up your time so you can concentrate on living (or even making more money to invest and put to work for you). They use time-tested methods so you don’t have to try to reinvent the wheel on your own. And they do it in a cost-efficient manner that allows you to keep putting more of your wealth toward your future, rather than watching your real returns eroded by steep management fees.
While I like the challenge of building a portfolio and handling my investments a bit more directly, I also like to free up my time wherever possible.
While I currently invest in ETFs directly through a discount broker, I’m considering moving to a robo-advisor so that I know my portfolio is automatically balanced and I’ll barely have to look at it. Robo-Advisors Comparison: The Top 5 Canadian Robo-Advisors If you are looking for a place to start with robo investing, check out some of my favourite advisors.
These robo-advisors offer access to investments and educational tools that can help you make a solid start in your long-term investing plan: Wealthsimple: The Best Overall Robo-Advisor If you are looking for the best robo-advisor in Canada, Wealthsimple is a good place to start. It’s the largest robo-advisor in Canada, managing $400 million in assets, and the only mobile app in Canada that allows you to sign up for an investment account. Additionally, consumers can confidently trust Wealthsimple due to the fact that it acquired its own broker, ShareOwner, and has $32 million in funding from Power Financial.
Wealthsimple offers access to a wide variety of index ETFs to help you build a portfolio in a variety of accounts. The advice is human-assisted, and the advisors have experience managing high net worth portfolios. Additionally, there are 15 full-time developers committed to building out the best technology available.
There are no commissions, and the fees are very reasonable. It’s a solid choice for anyone looking to get a good start. Features: • Invest in fractional shares, eliminating the need for account minimums. • Connect with the Wealth Concierge team via phone, email, text, or Skype.
• Socially responsible investment (SRI) options available. You can invest according to conscience with Wealthsimple. • When , your first $10,000 is managed for free for the first year, and after that, there is an annual fee of 0.5% or 0.4%, depending on the size of your account. • Includes a mix of Canadian, U.S., and international stocks and bonds.
• A variety of registered accounts and non-registered accounts so that you can meet your various long-term goals. Get started with . Nest Wealth: Top Choice for Larger Portfolios As your portfolio grows bigger, you find that more dollars go toward fees. It’s just the way it is when you pay a percentage of your balance.
Nest Wealth changes that model by charging a flat fee of $20, $40, or $80 per month, depending on the size of your account. If your portfolio size is at least $150,000, you don’t have to ever pay more than $80 a month in management fees. On top of that, Nest Wealth is the only robo-advisor in Canada to keep its accounts at a major bank.
This offers protection for your money. Plus, you have the access to the resources of a large bank, but the service of a smaller concern. Not only that, but each customer of Nest Wealth gets a customized portfolio. You won’t see slightly tweaked pre-packaged portfolios. Finally, this Canadian robo-advisor prides itself is using the most efficient combination of blue-chip ETFs. The average expense ratio works out to be about 0.13%, which is very low. You will have to pay third-party transaction fees and expense ratios, but if you have a large portfolio, the savings from management fees can make a huge difference.
Features: • A wide variety of blue-chip ETFs used to create low-cost portfolios. • Experienced managers, including the CEO, who has been managing money for 15 years. • Fully customized portfolios for each customer. • Monthly management fees capped at $80 per month and yearly third-party trading fees capped at $100, no matter the size of the portfolio. • Portfolio balancing on a regular basis to ensure your portfolio continues to operate at the optimal level.
• Full range of registered and non-registered accounts and a holistic approach to account management. Get started with . ModernAdvisor: Largest Portfolio Managed for Free If you’re looking to get started investing with a Canadian robo-advisor and you don’t want to pay a lot in fees, ModernAdvisor can be a good fit.
This robo-advisor allows you to invest up to $10,000 without any management fees. This is the largest “starter” portfolio managed for free in Canada. This can give you a solid start before your money starts being siphoned away for fees.
On top of offering a large free portfolio, ModernAdvisor also offers one of the most competitive pricing structures for portfolios that hit $100,000. In many cases, Canadian robo-advisors wait until you have a higher balance before your management fee drops to 0.4%. You can also take advantage of the Springboard program to practice online investing. It’s a demo account, but if you are nervous about putting your own money in first, it’s a good way to get a little practice in.
Model some strategies and ideas before you put in your own money. Features: • Large free portfolio management of up to $10,000. After that, fees range from 0.50% to 0.35%, depending on the size of your balance. • Fee analyzer tool that allows you to compare actively managed mutual funds with ETFs to see where you can get the best bang for your investment buck.
• Demo account through the Springboard program that allows you to test out online investing before committing your own funds. • SRI choices for those who are interested in making sure their portfolios match their values. • Includes diversified asset classes, including various stock and bond ETFs, as well as REITs to add a real estate asset component.
• Tax-advantaged and non-advantaged accounts, and different management techniques to help ensure the best outcome over time. Get started with . Justwealth: Great Robo-Advisor for RESPs If you are looking for the best robo-advisor in Canada for your child’s education account, Justwealth is a pretty decent choice.
Justwealth specializes in target-date portfolios. This allows you to figure out your goal’s time horizon and then your portfolio is managed accordingly. As you work toward funding your child’s education, Justwealth can help you with a target-date RESP.
Justwealth does have a slightly higher management fee, and it’s divided into two tiers: 0.50% for account balances under $500,000 and 0.40% for account balances above that.
There are also minimum fees for smaller account sizes, so pay attention (although RESPs have smaller fees). In addition to RESPs, Justwealth also offers a variety of registered and non-registered accounts you can use to meet various goals. Think about what you are looking for in order to achieve best results.
Features: • Specializes in target-date portfolios for RESPs. • Features a portfolio review. This review takes a look at your current portfolio and analyzes it for fees, account structure, and diversification. • Simple fee structure, although there are minimum fees charged for smaller accounts. • Goal-based investing focuses on your time horizon, and how to achieve your goals, rather than just assigning you a general portfolio.
• Tax-efficient strategies so you keep more of your money. • Those involved with Justwealth and their advisory board are a mix of specialists, credentialed advisors, and PhDs. Get started with . WealthBar: Best for Personalized Financial Planning If you’re looking for someone to help you with long-term financial planning and seeing where your investments fit into the bigger picture, WealthBar can be a good choice. This is one of the best robo-advisors in Canada since they offer money management help through a dedicated financial advisor for each client.
You do need a minimum of $1,000 to start investing with WealthBar, but they will manage your first $5,000 for free. Fees range from 0.60% to 0.35%, depending on the size of your account. But it’s nice to get a solid start with the first $5,000 managed free.
Where WealthBar really shines, though, is the personal attention to detail. Those involved with WealthBar have long experience managing high net worth clients, and they bring some of that attention to detail and personal help to your portfolio. Plus, with the financial planning component, you know you’re getting a holistic look at your finances and investing. Features: • You need $1,000 to start investing, but you can set up an automatic deposit before you reach that amount so you can build up to the $1,000.
• Your first $5,000 is managed for free, after that fees range from 0.60% to 0.35% as your account balance grows. • All clients received a dedicated financial advisor. While portfolios are created with technological help, you can still contact your advisor for information about financial planning. • Accounts are optimized for taxes.
• Access to Nicola Wealth Management’s private investment pools through your WealthBar account. Normally, you would need at least $1,000,000 to access these private portfolios. • A variety of account types and investments to help you reach your goals. • The only Canadian robo-advisor to offer RDSPs.
However, you need to have another account with them first. Get started with . While I believe these are the best robo-advisors available right now, you do have more options you might want to look into, including: • • • • • • Sign Up for a Robo-Advisor Today You can’t really go far wrong with any robo-advisor you choose. All of the Canadian robo-advisors come with low costs, especially when compared with actively managed mutual funds and more traditional investments. It takes the concept of couch potato investing to the next level.
You don’t have to do anything, other than take 10 to 15 minutes to sign up for an account, set up an automatic investment schedule, and then wait for someone else to do the heavy lifting.
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Use one of the best robo-advisors in Canada to start your investing journey and reach your long-term financial goals. Advertiser Disclosure Our goal at MapleMoney is to present readers with reliable financial advice and product choices that will help you achieve your financial goals.
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