Questwealth vs Wealthsimple - Which Is The Better ROBO-ADVISOR In Canada | FULL BREAKDOWN

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Today we'll cover a complete comparison between Questrade's Questwealth portfolios vs Wealthsimple's Robo-advisor platform.
We'll take a look under the hood of these platforms to see which stocks are included within both of the platforms and which has performed better over time. Also we will cover fees!
Questrade - Questwealth
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Wealthsimple Invest
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wealthsimple.sjv.io/zQ1d6
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#stockmarket #canada #brandonbeavisinvesting
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About Brandon Beavis:
Brandon Beavis was one of the youngest advisors to become fully licensed here in Canada.
In 2013, Brandon officially began his industry studies. Over the years he has completed his CSC (Canadian Securities Course), CPH (Conduct & Practices Handbook), WME (Wealth Management Essentials), 90-day Investment Advisor Training Program, attended the Manulife Professional Development Workshop in Oakville, ON, and attended countless industry seminars, conferences & events to help further his learning.
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About Marc Beavis:
Marc is a retired Portfolio Manager, having spent over 25 years in the investment industry, managing multi-million-dollar portfolios and working with clients of all ages. He retired in 2021 and is a regular contributor to this channel.
Following his initial licensing back in 1996, he completed a number of industry courses, including the Derivatives Fundamentals and Options Licensing Course, Portfolio Management Techniques, Wealth Management Essentials, Investment Management Techniques, Fixed Income Investing, Hedge Fund Essentials, Portfolio Theory, and of course, the Canadian Securities Course.
When working in the industry, he held the Chartered Investment Manager (CIM) Designation as offered by the Canadian Securities Institute. In addition, Marc was a Certified Financial Planner (CFP) practitioner, the industry gold standard in financial planning.
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[@beaviswealth]

Questwealth: Get $10k managed FREE for the first year - www.questrade.com/campaigns/QWPAFFL10K140 Wealthsimple: Get $50 in bonus cash when you deposit $500 or more - wealthsimple.sjv.io/7AO7Y By viewer request, here is a COMPLETE comparison between Questwealth and Wealthsimple Investing Robo-Advisor platforms! Curious... which of these do you prefer? Leave a comment down below! 📈📚 As always, if you're a beginner to the Stock Market in Canada and you're looking for a step-by-step blueprint on how to get started... Find out more about our Investing Academy here - bit.ly/theinvestingacademy

[@meganc5765]

This is the BEST comparison video I have seen. Thorough, to the point, simple and clear. Thank you sooooo much Brandon!!!

[@Paraphane]

Perfecting timing for a study break!

[@alanrubio4523]

Perfect timing!!!! Im with Questrade and i dont know if I should switch...

[@kolt1443]

Awesome video as always Brandon, thank you!

[@MichielVanTilborg]

Awesome video, Brandon! Really cool to see these new technologies and it's a great way to get your toes wet. Thanks for sharing! 🙂

[@jaydeecorpus2705]

Awesome comparison! Thank you Brandon 😊

[@manpreetSingh-nt1sv]

A very good explanation. Thank you sir.

[@bmvp9844]

excellent video! all i need it to know thank you so much!😊

[@eyesontheprize6637]

Thank you for this fantastic review. My guess is the WealthSimple Growth fund is more a reflection of what Questwealth has in both their Agressive and Growth Fund, so comparing Growth fund to Growth fund is likely not an accurate comparison.

[@mostafaatef4757]

Very infomrative, thanks! Can you please post a video on the different accounts type and which ones are better option? RRSP or TSFA?

[@abuarif7141]

Great video. Can I customize etfs & stocks of my choice in QUEST TRADE when robo adviser is used?

[@gabitatari6764]

Very good explanation Brandon thanks

[@oddixgames6704]

Great video! Actually, the word "ROBO" striked me up with a thought.. We invest in portfolios, made by algorithms, which pick up ETFs made by algorithms, which trade stocks using algorithms... What a crazy world we live in...

[@usinelachine8087]

thnks great video - really helpful!

[@scottsibley561]

Does anyone know if you have to pay the 1.5 conversion fee on wealthsimple invest? Do ETFs come with the buying/selling fee like they do for self direct investing accounts?

[@pepperanntocool7665]

Wealth simple is great for beginners, when you get more advanced you can use other stock sites to invest in

[@astromaxx7771]

Thanks for the video. For the ETFs MER's- those are weighted based on their proportion in the portfolio correct?

[@martinjjt]

Hey Brandon! Do you know if its possible to decide not to reinvest dividends and receive them as cash for example during retirement? Thanks

[@sadiemoland2157]

Interesting to watch this video now, only a year later, and the Questwealth growth portfolio is performing just as well (actually slightly better) than the Wealthsimple growth portfolio. Really speaks to how quickly things can change.

[@beaviswealth]

Thanks... yes, change doesn't stop, does it! - Marc

[@kirupaashankar6519]

One question, Since it invests in International markets does the currency exchange fees also come into play in both platforms. ??

[@NB-bx7wc]

great job explaining!!

[@beaviswealth]

Glad it was helpful! :)

[@nacroman90]

Im with wealthsimple since early 2018 and very satisfied

[@MartinMcClellanGT]

Same here!

[@lastempire7302]

Is there any customizability to either of these platforms? I just want a robot who can automatically rebalance why preset percentage from the selected stocks/EFTs of my liking...

[@CEEEEEEEEENA]

Thank you for pointing out the halal investment option , thats what i was looking for

[@sidvyas3081]

Hey Brandon ..just subscribed. Wanted to know on this comparison( Robo advisory for both of these) is there a transaction fee? say If I put 1000$ every week/month in either of these(Quest wealth or Wealth simple) will there be any fees and also if I withdraw say after 5 year 100$ every month.

[@rockgosu4rocky883]

Are we paying every time the money change between CAD / USD every time they buying us stock or selling ?

[@joshualucas2868]

The MER fee might be low for Questwealth but the ETF’s they hold in their portfolio’s have management fee’s that make up for having a low MER. It’s about preference tbh and which platform you’re comfortable using.

[@RH-jw7ls]

Is wealthsimple less fees?

[@randisney6151]

Good overview but the one huge factor not mentioned is that QuestWealth portfolios are actively managed whereas Wealthsimple are entirely passive. General consensus is that passive will always outperform actively managed which could be why we see better returns with WS despite the higher fees.

[@PriscillaThen]

Is this true @brandonbeavis?

[@astromaxx7771]

Also- does queswealth auto reinvested ( DRIP) the dividends? Or do I have to DRIP them manually? Thanks!

[@john-pauldakran2373]

Hi Brandon. I'm curious what you think about an Aggressive Questwealth ETF Portfolio vs. investing in VGRO.TO in a self directed account?

[@maplemumbai]

What about RBC InvestEase and BMO Smartfolio?

[@wantongaming6473]

What do you think of all in one portfolios like VGRO which has a much lower MER?

[@GameBrosTMT]

Yes people on YT def need to talk about these

[@magictotem492]

Hi Brandon. I want to hear what you think about rbc investease Thanks!

[@MartinMcClellanGT]

Wealthsimple for me! I’ve been with them since October 2018 and I couldn’t be more happier!!!

[@jacobcao9184]

what is your return rate

[@RH-jw7ls]

Why choose weathsimple robo vs quest robo?

[@MartinMcClellanGT]

@@RH-jw7ls both are great platforms, with Wealthsimple hands up the best for me, from the simplicity to the customer support, and if you use my link you get $10.000 managed for free for 1 year!

[@RH-jw7ls]

@@MartinMcClellanGT how about fee wise? And return wise between wealth and quest? What is ur referral link for 10K free?

[@RH-jw7ls]

@@MartinMcClellanGT thanks and what is your referral?

[@priayief]

I'm wondering how these robo-advisors handle transaction fees. Are these fees addressed in the MER for handling one's account?

[@johncarson1222]

Currently with a wealth management service through Scotia Mac. What does a person have to do if I wanted to move one or more accounts over to either of these robo platforms

[@DonRade]

I was hoping you would've looked into last year returns for both platforms. Maybe they are closer together in the past year than they are from inception. I guess I will have to look for that myself. Thanks for the explanation though, I'm new to all this! :) I just looked that up and it looks like year over year they are negligibly close. Within a few %.

[@vibrantgoku]

What about a 3 fund portfolio vgro veqt and vus

[@allens1330]

Thinking about investing 100k. Is my money safe at Wealthsimple?

[@abhedpatil]

Could you provide an example of Questwealth avg returns, not what they project but a realtime example who’s been investing for a few years and actual returns.

[@vaskoobscura_]

The one thing you forgot to mention was the fees you have to pay when you want to withdraw your funds. But overall good video. Thank you.

[@manpreetSingh-nt1sv]

So can you please tell how much is it for both?

[@oddixgames6704]

Hey Brandon, maybe you can answer this one - opening RESP account with any of those 2 - will they automatically apply for government bonds and add them to the account? Thanks!

[@iansansford1997]

I’m wondering this as well.

[@MrAdschahal]

I have a RESP for my kid with wealthsimple and they will get the money from government by themselves as long as you are putting your contribution. Thanks.

[@chrisleavitt8738]

Some have 1~2% cash, what is that? Guessing a savings account at low interest?

[@doctordoom573]

could someone clear this up for me, for quest trade they have the 0.25% admin fee. The aggressive portfolio used as an example listed 5 ETFs so all of them have separate MER fees added to the 0.25%? so that would be much higher than the example of 0.38% in the estimated fees.

[@kirupaashankar6519]

Yes you are right you ll be paying Mer fee for each etf you hold on top of their platform or portfolio management fee which eventually comes to more than 0.38%

[@randisney6151]

Each separate ETF is only a portion of your portfolio, so while an underlying MER may be, for example, .12%, it's not .12% of the value of your entire portfolio, just of how much you have invested in that particular ETF. You wouldn't add the MER's of all the various ETF's together to come up with a total fee.

[@Ryland_28]

It was going so we'll until the Questrade admission free. 😄 On all honesty though, this video was really well done. Clear and concise. It would be great to see a walkthrough of using a TFSA to purchase shares and how the gains are dispersed into the account....if that even makes sense.

[@SoulLead87]

can you have a both tfsa account?

[@kenwarner5387]

Good video young man. Note that Quest has outside Canada funds, mostly and they hammer you with 1% exchange on currency. Adds significantly. Makes wealth simple more economical. And Quest is active (human intervention for rebalancing) and wealthsimple is passive. Big diff there

[@NetMelc]

I never understood the hype around Robo-Advisors when there are All-in-One ETFs like VGRO that offer diversification at just 0.25% MER. Are those people (robo-advisor customers) just not aware VGRO exists?

[@monapatel8811]

True!!!

[@MartinMcClellanGT]

@@monapatel8811 true but robo-advisors provide you with many more services, specifically if you own multiple ETF’s in a allocation portfolio. They will rebalance, sell, and buy new shares for you, taxes harvesting, drips (dividends reinvested) plus you can have all your taxes files in one spot as Wealthsimple provides you with a free software to file your taxes.

[@eyesontheprize6637]

Hi again Brandon, when I click on the WS affiliate link it indicates you get $25 free not $50.

[@doobieman111]

Thanks for the video, greatly appreciated Brandon, love your content. One question- Questwealth has 0.25% management fee + 0.38% MER=0.63% fee. Wealthsimple charges 0.5% and that's it? That would make Wealthsimple having both lower fees and better returns? Or am I missing something?

[@simonec.9270]

I have Wealthsimple and each ETF has its own MER fee on top of the 0.5% management fee. My total MER fee for all my ETFs in the portfolio is 1.23%. For context, I have a growth portfolio 80:20.

[@kirupaashankar6519]

@@simonec.9270 Tks soo much for clearing this .

[@kirupaashankar6519]

On Just a rough calculation in quest wealth we would be paying 1.14% fees(quest wealth fees + Etf mer fees ).

[@RH-jw7ls]

@@simonec.9270 do u use the robo advisor? How has it been? Good returns? No problems with wealthsimple?

[@Udjeox]

@@simonec.9270 I don't think you should add the mer up like that because the mer applies to only certain types of etf in your portfolio and not the entire portfolio. You should take their average instead and then add to 0.5% base. This is only my thinking because your fee total is quite high. If someone can comment that would be great.

[@brettmorris436]

18:58 "2.5 mannshgftty"

[@hassanabdullahi8625]

If you have a Wealthsimple trade account can you also have a Wealthsimple invest account? Lemme explain what I mean. If you purchase single stocks and ETFs on trade, can you also purchase ETFs on the invest platform?

[@JoseGarcia-so2yc]

I also wanna know that. Did you figure it out?

[@a.j.4644]

Yes, you can invest in WS portfolios and also buy stocks and ETFs on WS Trade. But Trade is limited in what they offer. You can also do QuestWealth portfolios and and Questtrade. They're all happy to use your money in all the ways you choose.

[@shellybrandes6772]

I feel mastering personal finance requires more than life hacks-you have to look at your financial situation holistically and come up with a plan for how to manage your money. With a financial manager by my side I have been able to handle my investments better and make innovative decisions.

[@shellybrandes6772]

I now earn passively by investing in stocks through the help of Mrs Elizabeth Warren Shaw, with her help my stock investments seem to pay off very well, I have made 93,000 within the past 6months, her platform has proven to be the best I have come across, anyone looking to get tangible information about her can research.

[@kathrynmorgenson1063]

Elizabeth has made a name for herself, earlier this year I basically saw her on a lot of interviews. I feel without her big win on Tesla stocks this year a lot of people (me included) wouldn't have known about her services.

[@charlescohen2144]

Yes I would love to know more about this lady and her services but what i would really appreciate right now is her contact info I will like to connect with her personally and know what my chances are if invested 60k into the stock market through her platform

[@astromarvin7910]

I've been able to stack up my asset column with a variety of investment; currency pairs, bonds, and ETF'S. Currently circling around £ 85,000, all accumulated in the space of 7 months all thanks to Elizabeth Warren Shaw. Where I provide the funds and she does all the action am glad I took this chance with her.

[@astromarvin7910]

You can start by looking her up on Goøgle 'Elizabeth Warren Shaw' locate her website get on it. That way you can send in a text via whatsap p or mail directly to her.

[@BuyanCubes]

Hey Brandon, do you think it makes sense for a young investor to have two investment accounts - one that uses a robo-advisor and one that is self-managed, both at the same time?

[@nomadicfit]

It's exactly what I did, I used wealth simple invest and quest trade for self-directed investing... Although I can't say if it worth it yet, I wanted to dip my feet in both!

[@RH-jw7ls]

@GameStrain why did you pick wealthsimple robo? Vs quest?

[@PriscillaThen]

@@RH-jw7ls I think he looked at WS and felt it was good, and wanted to try it out out of curiosity, as well as having topics to make videos from. Check out the video series with his dad where they each invested equal amounts in WS and QT (they've done monthly updates since).

[@PriscillaThen]

I was thinking of doing the exact same@@nomadicfit (at least in the beginning)! How do you find them now, after a year of experience?

[@livinnbaballer]

Not a fan of Robo-Advisors personally. Would rather have a combination of self-directed investing and actively managed mutual funds with a reputable portfolio management team.

[@MartinMcClellanGT]

Mutual funds are a wast of money, and you do have reputable portfolio managers at your fingertips with Wealthsimple. Just give them a call or email them, they will reach you very fast!

[@Udjeox]

Don't go with active management. The fee is 3 times higher and tbh they don't do much except meet with you once a year for the bank and 2 times for private brokers. I have private brokers for a good 8 years. They confused me so much that I got so scared about investment. This year I decided to learn it on my own and it's not that bad. Roboadviser is actually a lot better than a bad financial advisor who is greedy. Alk he wants is for me to invest more and buy more insurance. Thanks God I didn't buy any useless insurance and didn't listen to him. I paid off my mortgage instead of pouring everything in investment otherwise this pandemic is not pleasant.

[@hangxu2154]

Commission free means they make money off bid/ask spread and delayed data..

[@borderlesslife]

Wealthsimple is over until they offer a US dollar account

[@ratagusc7867]

I think it will come. 6 months ago they had only tfsa and rrsp. I’ve checked today and they added ReSp lira.

[@Dave004]

If all they're doing is investing in ETF's for you, why not invest in ETF's yourself on wealthsimple trade or questrade and save the fee?

[@PriscillaThen]

Don't you have to manage the funds and rebalance it every few months? That might be too much learning curve and time/effort for some people (esp. if they have young kids, for example). It's definitely a good option when you're just getting started though.

[@Dave004]

​@@PriscillaThen I'd say it depends on your age. If you're young you don't need a robo advisor and can do it all yourself by just buying one or a few ETF Indexes since you're focused on growth. If you're closer to retirement, 10 years or less then it could help if you don't feel comfortable diversifying into bonds and fixed incomes yourself. But if you have 15+ years and you use a robo advisor you're losing 10's of thousands of dollar in fees you could have saved just going online and clicking "buy", a literal 30 second process. Lets say you have $200,000 and it grows by 5% per year (thats low but this is just an example) since your investment is growing the fee grows with it at its a percentage of investment. So 0.4% of 200,000 is $800, but after 5% growth the next year its $840, then $882 and so on compounded, so over 20 years, if you didn't add any money and the 200k just grew 5% a year you'd have paid approximately $29,000 in robo fees alone (not including fees associated with the ETF's themselves). Just something to consider.