ModernAdvisor review

Modern Advisor charges a management fee of 0.2% to 0.9%, taken as a set ongoing rate rather than a commission per trade. Robo-advisors across the comparison table charge a median of 0.35%, so read the two against each other before you commit.

The minimum investment is CAD 1,000 to CAD 5,000. That sits well above the robo-advisor median of €60.06, so Modern Advisor is aimed at savers with a sum already put aside rather than those building a portfolio slowly.

Modern Advisor Canada Inc. is registered as a portfolio manager with the provincial securities commissions in all Canadian provinces. Look to those regulators, not to an offshore entity, when you weigh where the account is held.

The portfolio options are ETF, ESG and cash, so you can move between a growth mix, an ESG mix and a cash holding as your circumstances change. etfs is the market list, which is narrower than a general brokerage account.

No. etfs lists ETFs only, and the portfolios are built and rebalanced for you rather than placed trade by trade. If you want to pick and time your own positions, a share dealing platform fits better.

Support runs on email, phone and help centre, so you have email, phone and a help centre to work with. Phone and email lines are the faster routes when a rebalance or a withdrawal needs checking.

Modern Advisor is based in Canada and registered as a portfolio manager in all Canadian provinces, so the service is built for Canadian savers. The minimum is also set in Canadian dollars, which matters if you hold money elsewhere.

It depends how you invest. A flat management fee of 0.2% to 0.9% suits a hands-off investor who lets the portfolios run, while commission-free dealing suits someone placing orders often. Weigh that fixed charge against what trading on your own would cost over the same period.