Justwealth Named Best Overall Robo Advisor by MoneySense for 2024!

As noted in their article announcing their 2024 rankings, MoneySense said “Justwealth wins best robo-advisor in Canada because, unlike most of its competitors, it assigns clients a dedicated personal portfolio manager”.

MoneySense Best Robo-Advisors in Canada 2024 Comparison Chart

See below for the after fee returns from the MoneySense article, for the period ending Dec 31, 2023. 

Methodology for the best robo-advisors in Canada ranking (MoneySense Disclaimer)

*All stated returns are for a balanced portfolio made up of 50% to 60% stocks and 40% to 50% bonds, net of fees, as of Dec. 31, 2023, except CI Direct’s, which are net of fund management expense ratios (MERs) but not the provider’s management fee and taxes. All performance figures are denominated in Canadian dollars and assume the reinvestment of distributions. Three- and five-year returns are annualized. Modern Advisor’s and CI Direct’s performance figures assume daily rebalancing. The performance figures may differ from clients’ actual account returns due to the timing of deposits, withdrawals, buys and sells, and reinvestment of distributions.

See https://www.moneysense.ca/save/investing/best-robo-advisors-in-canada/ for full article.  Past returns are not an indicator of future performance.

How does Justwealth stack up against the banks*

Compare Justwealth’s portfolios using low-cost Exchange Traded Funds (ETFs) versus the high-fee mutual fund portfolios offered by Canada’s big banks. Warning, you may find the results disturbing!

Data as of March 31, 2024

Source: Morningstar Direct

* The information presented above was obtained from sources which we believe to be reliable, but we cannot guarantee the accuracy of the information. The information does not constitute financial, tax, legal or any other kind of advice, nor is it an offer to buy or sell any securities. Rates of return are presented in Canadian dollars, annualized, and are net of the fees indicated. For additional details on the calculation of Justwealth rates of return, please refer to the disclosure on our performance page. Past performance is not a guarantee of future returns.

This analysis is a comparison of the largest mutual fund asset allocation programs offered by each of the 5 largest Canadian banks and Justwealth, an independent, low-cost online Canadian Portfolio Manager. Each program maintains a series of portfolios ranging from low risk to high risk. The categories used in the analysis attempt to compare portfolios with similar allocations to fixed income and equity securities. The five categories and approximate asset allocations are as follows:

Conservative: 80% Fixed Income/20% Equity

Moderate: 60% Fixed Income/40% Equity

Balanced: 40% Fixed Income/60% Equity

Aggressive: 20% Fixed Income/80% Equity

Maximum: 100% Equity


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