Is Wealthsimple Managed or Questwealth cheaper?

It depends on your balance, the management-fee tier, the ETF MER, and any account or transfer costs. Compare the combined annual percentage and dollar amount at the balance you expect to maintain rather than relying on a single headline rate.

Are Wealthsimple Managed and Questwealth self-directed brokerages?

No. They are managed portfolio services: the provider selects and rebalances the investments. A self-directed brokerage such as Wealthsimple Self-directed or Questrade lets you choose individual securities and maintain the portfolio yourself.

Can I transfer a TFSA or RRSP between Wealthsimple and Questwealth?

Use an institution-to-institution transfer and confirm the receiving account type, whether assets can move in kind, the timeline, and any fees. Avoid withdrawing registered funds to your bank unless you understand the contribution-room and tax consequences.

Do robo-advisor management fees include the ETF MER?

Usually not. The management fee pays for the service and portfolio management, while the ETF MER is charged inside the funds. Read both schedules and consider the combined cost.

Should I use a robo-advisor or choose my own ETFs?

A robo-advisor can make contributions, allocation, and rebalancing easier to follow. A self-directed account can offer more control and potentially fewer service fees, but it requires you to choose and maintain an appropriate portfolio. The better fit depends on the job you want the account to do.

Wealthsimple vs Questwealth in Canada

Short answer: Choose Wealthsimple Managed for a simpler hands-off experience and broad account support; choose Questwealth when its portfolio choices, fee tiers, and Questrade ecosystem better match your balance and service expectations.

Both services automate a diversified portfolio, but Wealthsimple Managed emphasizes a low-friction, broad-account experience while Questwealth makes its tiered fee schedule and portfolio process a more explicit part of the decision.

Why this matchup earns a page: This is a genuine same-product comparison with enough reviewed evidence to analyze fee tiers, account fit, portfolio choice, and service model. It does not treat either managed service as interchangeable with the self-directed brokerages above.

Last reviewed 2026-08-23. Managed portfolio service versus Managed portfolio service.

Verdict by investor need

Small starting balance — Wealthsimple Managed: Its reviewed managed profile has a lower entry barrier, while Questwealth's minimum and fee schedule should be checked against the amount you plan to invest.
Clear fee-tier comparison — Questwealth: Its published balance-based structure makes it easier to see how the management fee changes as the account grows.
Account breadth and low friction — Wealthsimple Managed: The reviewed evidence emphasizes broad Canadian account support, automatic deposits, and a straightforward mobile-first service.
Portfolio choice and Questrade ecosystem — Questwealth: Investors who want Questrade's managed portfolios and a more explicit portfolio-selection process may prefer the surrounding ecosystem.

Two-column feature comparison

Management fee

Wealthsimple Managed Investing: 0.50% (core managed-investing rate below $100,000); 0.40% (status pricing from $100,000); 0.30% (status pricing from $500,000)

Questwealth Portfolios: 0.25% (published rate below $100,000); 0.20% (published rate at $100,000+)

Decision note: The platform fee is charged on top of the underlying fund costs; compare the tier that fits your expected balance.

Underlying ETF MER

Wealthsimple Managed Investing: 0.12%–0.15%

Questwealth Portfolios: 0.09%–0.24%

Decision note: A lower management fee is not automatically a lower all-in cost if the portfolio's ETF layer differs.

Account types

Wealthsimple Managed Investing: TFSA, RRSP, FHSA, RESP, RRIF, LIRA, Non-registered

Questwealth Portfolios: TFSA, RRSP, FHSA, RESP, RRIF, LIRA, Non-registered

Decision note: Account availability and transfer paperwork are part of the product, especially for registered savings.

Minimum investment

Wealthsimple Managed Investing: $0

Questwealth Portfolios: $250

Decision note: Minimums can decide whether a service is usable before fee differences become meaningful.

Management model

Wealthsimple Managed Investing: Discretionary ETF portfolios with automatic deposits, monitoring, and rebalancing.

Questwealth Portfolios: Actively managed ETF portfolios with automatic rebalancing and discretionary trading.

Decision note: Both services manage portfolios, but their construction and rebalancing choices can still differ.

Portfolio choices

Wealthsimple Managed Investing: Risk-based Core portfolios plus socially responsible options; individual ETF selection and sector tilts are not available.

Questwealth Portfolios: Risk-based portfolios with strategic and tactical allocation decisions; no individual-security control.

Decision note: Choose the level of customization you can stick with, not the longest menu.

Currency handling

Wealthsimple Managed Investing: Managed portfolios are CAD-based for Canadian clients; the reviewed managed-investing sources do not promise a DIY-style USD journaling workflow.

Questwealth Portfolios: Canadian managed portfolios are primarily CAD-based. This is separate from Questrade self-directed CAD/USD trading and should not be assumed to provide the same FX workflow.

Decision note: Managed portfolios are not a substitute for a self-directed USD trading workflow.

Transfers and account fees

Wealthsimple Managed Investing: Transfer rules depend on the account and destination. Confirm cash versus in-kind handling and any current reimbursement terms before moving assets. No separate account-opening fee is stated in the reviewed managed-investing sources; management fees and fund costs still apply.

Questwealth Portfolios: Transfer timing, cash or in-kind eligibility, and any outgoing charge depend on the account and destination; confirm both institutions' current terms. The reviewed fee page publishes the management schedule; confirm any account-specific administration or fund charges before opening.

Decision note: Check whether the transfer is in cash or in kind and whether selling creates tax or market-exposure consequences.

Scenario-specific tradeoffs

Both add a management fee to the underlying ETF MER, so comparing only the advertised platform percentage understates the all-in cost.
Wealthsimple's convenience can be valuable for contribution consistency; Questwealth's fee tiers and portfolio choices may matter more as balances grow.
Neither service gives the same security-level control as a self-directed brokerage, and moving from one managed service to a DIY account changes who makes allocation and trading decisions.

Switching considerations

Ask whether the receiving service accepts an in-kind transfer of the actual ETF holdings. A cash transfer can sell the portfolio and change market exposure; a non-registered sale may have tax consequences.
Preserve contribution records for registered accounts and confirm the receiving account type before initiating the transfer.
Compare the total annual dollar cost at your expected balance, not only the first-year fee or a promotional rate.

Canadian account context

Both reviewed services support common Canadian registered accounts, but exact TFSA, RRSP, FHSA, RESP, and non-registered workflows should be confirmed before opening or transferring.
A managed portfolio's CAD-oriented currency handling is different from a self-directed broker's ability to hold or trade USD. Use the brokerage comparisons if direct currency control is the decision.
Management fees and ETF MERs reduce returns regardless of whether the account is registered. This page does not estimate taxes, contribution room, or future performance.

Methodology

We reused the reviewed robo-advisor profiles, fee tiers, account lists, management descriptions, and official sources from the broad Canadian robo-advisor guide.
Feature rows retain “not published” or source-limited wording instead of filling gaps with assumptions.
The verdicts focus on management model, balance-sensitive fees, account fit, and service friction. They are not a forecast or personalized recommendation.

Official sources and provider profiles

Wealthsimple Managed Investing official sources and directory profile

Product type: Managed portfolio service.

Read the Wealthsimple Managed Investing directory profile · Visit the official provider site

Questwealth Portfolios official sources and directory profile

Product type: Managed portfolio service.

Read the Questwealth Portfolios directory profile · Visit the official provider site

Frequently asked questions

Is Wealthsimple Managed or Questwealth cheaper?: It depends on your balance, the management-fee tier, the ETF MER, and any account or transfer costs. Compare the combined annual percentage and dollar amount at the balance you expect to maintain rather than relying on a single headline rate.
Are Wealthsimple Managed and Questwealth self-directed brokerages?: No. They are managed portfolio services: the provider selects and rebalances the investments. A self-directed brokerage such as Wealthsimple Self-directed or Questrade lets you choose individual securities and maintain the portfolio yourself.
Can I transfer a TFSA or RRSP between Wealthsimple and Questwealth?: Use an institution-to-institution transfer and confirm the receiving account type, whether assets can move in kind, the timeline, and any fees. Avoid withdrawing registered funds to your bank unless you understand the contribution-room and tax consequences.
Do robo-advisor management fees include the ETF MER?: Usually not. The management fee pays for the service and portfolio management, while the ETF MER is charged inside the funds. Read both schedules and consider the combined cost.
Should I use a robo-advisor or choose my own ETFs?: A robo-advisor can make contributions, allocation, and rebalancing easier to follow. A self-directed account can offer more control and potentially fewer service fees, but it requires you to choose and maintain an appropriate portfolio. The better fit depends on the job you want the account to do.

Related comparisons

wealthsimple-vs-questrade-canada · best-robo-advisors-canada · Directory: wealthsimple · Directory: questwealth-portfolios

Disclosure: This independent comparison is educational, not personalized financial advice. Managed-investing fees, portfolios, account eligibility, and transfer terms can change. Directory compensation does not buy a positive conclusion.