Your guide to the top automated investing platforms for simpler, cost-efficient retirement portfolios.
Retirees have unique investing needs: stable income, low fees, diversification, and easy management especially if you want to spend more time enjoying retirement and less time worrying about your portfolio. Robo-advisors can help with exactly that by providing automated, diversified investment strategies tailored to your risk tolerance and goals.
In this guide, we break down the best robo-advisors available in Canada in 2026 that are particularly suitable for retirees, covering costs, account types, features, and who each one is best for.
What Retirees Should Look For in a Robo-Advisor
Before we dive in, here are the key factors retirees should consider in a robo-advisor:
✅ Low overall fees – every dollar saved in fees compounds over time
✅ Support for registered accounts like RRSP, TFSA, and RRIF
✅ Automatic rebalancing to keep your portfolio aligned with your goals
✅ Diversified ETF portfolios to balance growth and stability
✅ Low minimum investments so every retiree can get started
✅ Tax-efficient strategies where possible, especially in taxable accounts
Top Robo-Advisors in Canada (2026)
Below are the robo-advisors that stand out in Canada today — with features retirees should know.
1. Wealthsimple: Best Beginner (Friendly Overall)
Wealthsimple Invest is one of the most popular robo-advisors in Canada thanks to its easy setup, low minimum, and broad investment options.
Why it’s good for retirees:
$1 minimum: great for smaller portfolios
Supports RRSP, TFSA, RRIF, FHSA, and non-registered accounts
Offers socially responsible and halal portfolios
Automatic rebalancing and dividend reinvestment
Fee structure:
~0.40%–0.50% on most accounts
(fee decreases as account size grows)
Best for: Retirees who want a simple, hands-off experience with broad diversification and minimal setup hassle.
Pros: Easy to use, no minimum, broad account support
Cons: Slightly higher fees compared with some competitors
2. Questwealth Portfolios (Best Low-Fee Option)
Questwealth Portfolios, part of the Questrade ecosystem, consistently ranks among the cheapest robo-advisors in Canada.
Why it’s good for retirees:
Very low fees (as low as ~0.20%–0.25%) for most accounts
Actively managed portfolios designed to outperform broad indices
Works with RRSP, TFSA, RRIF, and non-registered accounts
Good choice if long-term fees matter
Fee structure:
0.25% on accounts ~$1,000–$100,000
0.20% on accounts over $100,000
Best for: Retirees focused on cost-efficient investing without sacrificing portfolio quality.
Pros: Low fees, strong performance history
Cons: Slightly higher ETF MERs (still competitive)
3. Justwealth (Best for Structured Portfolios)
Justwealth is frequently highlighted in industry rankings for offering structured portfolios and multiple risk target options, often including access to advisors.
Why it’s good for retirees:
Multiple portfolio strategies including conservative options
Backed by strong industry recognition (e.g., MoneySense)
Automatic tax-smart rebalancing
Fee structure: Usually around ~0.40%–0.50% (varies by account size and type)
Best for: Retirees looking for multiple strategy options and more tailored portfolio structuring.
Pros: Good choice if you want choice and planning features
Cons: Higher minimum investment required on some plans
4. RBC InvestEase (Best for Bank Integration)
If you already bank with RBC, RBC InvestEase makes it easy to integrate your investing.
Why it’s good for retirees:
Easy integration with RBC banking products
Supports registered and non-registered accounts
Helps you keep all financial accounts in one place
Fee structure: Around 0.50% (varies with account size)
Best for: Retirees who want their investing platform tied to their existing banking ecosystem.
Pros: Simplified experience within one financial institution
Cons: Fees can be higher than some competitors
5. ModernAdvisor (Worth Considering for New Users)
ModernAdvisor offers competitive fee options and a demo investor account to try before you invest.
Why it’s good for retirees:
Offers a 30-day free trial with demo funds
Tiered fee structure can be attractive
Managed by CFA experts
Best for: Retirees who want to test drive an automated investing experience before committing.
Pros: Trial option, professional management
Cons: Not as widely adopted or reviewed as major players
Comparative Snapshot — Fees & Features
| Robo-Advisor | Fee | Account Types (RRSP/TFSA/RRIF) | Minimum | Best For |
|---|---|---|---|---|
| Wealthsimple | ~0.40%–0.50% | Yes | $1 | New & easy |
| Questwealth | ~0.20%–0.25% | Yes | $1,000 | Cost-sensitive investors |
| Justwealth | ~0.40%–0.50% | Yes | Higher | Structured portfolios |
| RBC InvestEase | ~0.50% | Yes | $0* | Banking integration |
| ModernAdvisor | ~0.20%–0.50% | Yes | $1,000 | Try before invest |
Fees and metrics are approximate and can vary by account size, portfolios chosen, and promotions — always check current details before opening an account.
What Retirees Should Think About
Here’s how to choose based on your priorities:
If fees matter most: Choose Questwealth Portfolios its low fee structure helps keep more of your money working for you.
If you want ease of use: Wealthsimple is hard to beat for retirees who want simple, intuitive investing without complicated setup.
If you want planning structure: Justwealth offers more portfolio options and planning tools than most others.
If you prefer bank-linked investing: RBC InvestEase integrates right into your existing RBC accounts.
Robo-Advisors & Retirement Income
For many retirees, investment goals shift toward income generation and capital preservation rather than pure growth. While most robo-advisors are optimized for growth over the long term, you can adjust your risk tolerance to more conservative allocations that emphasize bonds, dividend ETFs, or cash allocations — and many robo platforms automatically rebalance to help maintain that risk profile.
Common Questions Retirees Ask:
Are robo-advisors safe?
Robo-advisors invest in diversified portfolios of ETFs and are regulated but they’re still subject to market risk. They’re not insured against loss.
Can I use a robo-advisor for RRIF income?
Yes, most robo-advisors today support RRIF and can help you manage the transition from accumulation to retirement income investing.
Do I still need a financial advisor?
If your portfolio is large, complicated, or you want personalized planning (tax, estate, legacy), pairing a robo-advisor with professional advice can be very powerful.
Final Thoughts
Robo-advisors can be excellent tools for retirees looking for low-cost, diversified, and automated investing without the complexity of self-directed accounts or traditional advisors.
The best choice depends on your priorities — whether that’s lowest fees, ease of use, banking convenience, or structured planning support.
Tip: Even if you choose a robo-advisor for portfolio management, consider a financial planning review to ensure your tax, estate, and retirement income goals are all aligned.
