How to Choose a Robo-Advisor, comparing Wealthsimple, RBC Invest Ease, BMO Smartfolio, and Questrade

Robots are everywhere. They clean your house, they can drive you to work. They can even make investment decisions for you. Not literal humanoid robots like the ones Elon Musk said are going to be featured in every home, but AI versions that can make automated investment decisions based on your risk profile and preferences. 

In this episode I break down what robo-advisors are, how they came to be, and how they work. I break down the benefits of using one vs. making investment decisions yourself and compare the top 4 robo-advisors in Canada. 

Here’s what I get into: 

3:25 - Where did Robo-Advisors come from?

5:50 - How Robo-Advisors work

8:45 - Why use a Robo-Advisor

11:20 - What do Robo-Advisors invest in?

14:15 - Benefits of using a robo-advisor

25:20 - Comparing robo-advisors in Canada

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