![]() ![]() You can invest in all kinds of accounts too, including tax-free savings accounts ( TFSAs ), registered retirement savings plans ( RRSPs ), registered retirement income fund ( RRIFs ), registered education savings plans ( RESPs ) and others.Įvery year, MoneySense looks at the best robo advisors in Canada and outlines the differences between these offerings, so that you can intelligently choose which is right for you. ![]() Some robos now offer chequing accounts, others let you pick stocks or buy insurance or offer real-life financial advice. According to the research aggregator Statista, Canadian robos will hold an estimated US$8.1 billion in assets under management in 2020, which, it predicts, will rise to US$16.6 billion by 2023, for a 26.7% compound annual growth rate.Īs time goes on, these companies are also getting more sophisticated in their offerings. While advisors and traditional fund companies still manage the majority of money in Canada, with people paying more attention to fees and with interest in exchange-traded funds (ETFs) increasing, robo advisors will only see their assets under management continue to rise. What was once a little-known investing tool for tech-savvy investors is now so commonplace, everyone from newbie savers to retired boomers using robo advisors to help manage their money. ![]()
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