Wealthsimple and Questrade, two independent (not bank-owned) Canadian brokers, each run a robo-advisor: Wealthsimple’s managed investing and Questrade’s Questwealth Portfolios. Both build and rebalance ETF portfolios for an annual fee, so the comparison comes down to what that fee is at your balance and what else comes with each. For every provider, see the robo-advisor comparison; for self-directed brokers, the online broker comparison.
Fees side by side
From each provider’s pricing page as of September 2026. Management fee only; the ETFs in each portfolio charge their own MER on top. The Wealthsimple column assumes the account is your whole Wealthsimple balance.
| Balance | Questwealth | Wealthsimple |
|---|---|---|
| $25,000 | $63 (0.25%) | $125 (0.5%) |
| $75,000 | $188 | $375 |
| $150,000 | $300 (0.20%) | $600 (0.4%) |
| $600,000 | $1,200 | Up to $2,400 (0.4% at $500,000, falling to 0.2% only at $10,000,000) |
Wealthsimple’s tier depends on everything you hold with Wealthsimple, including self-directed and chequing balances, so a $75,000 managed account can qualify for the Premium rate if other Wealthsimple balances bring the total past $100,000. The robo-advisor fee comparison adds the other providers.
Portfolios
Wealthsimple offers several managed portfolio lines: Classic, Summit (which adds private-market funds) and Income portfolios. Questwealth offers standard ETF portfolios across risk levels and socially responsible versions. Both assign a portfolio from a questionnaire, invest new deposits and rebalance automatically. The Questwealth review and Wealthsimple review describe each in more detail.
Accounts and everything around them
Both offer managed TFSAs, RRSPs, FHSAs, RESPs and non-registered accounts; confirm the specific account you need. The bigger difference is the company around the robo-advisor. Questwealth sits alongside a Questrade self-directed account with its range of investments and trading tools. Wealthsimple’s managed accounts sit alongside Wealthsimple Trade, a chequing account, crypto and tax software.
Which fits
Questwealth tends to suit fee-focused investors, particularly below Wealthsimple’s Premium threshold, and anyone who already has, or wants, a Questrade self-directed account.
Wealthsimple tends to suit investors who will use its other products, whose combined balances reach the Premium or Generation tier, or who prefer its app.
If the management fee itself is the question, robo-advisor vs a DIY ETF portfolio looks at doing without one. For families focused on RESPs, Wealthsimple vs Justwealth and the Justwealth review cover target-date RESP portfolios.
Sources
The figures and rules on this page come from these sources. How we check facts.
- questrade.com: Questwealth Portfolios | Questrade
- wealthsimple.com: Compare Generation, Premium, and Core Plans & Fees | Wealthsimple