Wealthfront is one of the most popular Robo-advisors in the United States. It is an online investment service that offers hands-free investment portfolios at a low cost.

What is Wealthfront?

Wealthfront was founded by Andy Rachleff and Dan Carroll in the year. With more than 450,000 clients and over $26 billion in assets under management, Wealthfront is leading amongst US robo advisors.

The company's primary line of business is the automation of investing through the use of extensively diversified, reasonably priced exchange-traded funds (ETFs).

Other than investing, you can also open high-interest cash accounts. These can offer savings and checking features, and a line of credit.

Alternatives to Wealthfront in Canada

Let's dig into the two major Robo-advisors i.e. Wealthfront alterantives in Canada. These are Wealthsimple and Questwealth.

1. Wealthsimple Invest

With more than $10 billion in assets under management, Wealthsimple is the most well-known digital wealth manager in Canada.

Clients of Wealthsimple also benefit from cheap management costs, dividend reinvesting, automated rebalancing, and access to other services, similar to Wealthfront clients.

Wealthsimple Invest Features:

The key features of Wealthsimple Invest include:

1. Diversified portfolios: You can invest in a personalized portfolio made up of ETFs.

2. Hands-free investing: Dividends earned in your portfolio are automatically re-invested and assets are rebalanced as needed throughout the year.

3. Multiple accounts: Offers non-registered and registered accounts including the RRSP, TFSA, RESP, RRIF, LIRA, and others.

Questwealth Portfolios

A wonderful alternative to Wealthfront is Questwealth. The business invests your funds in an ETF portfolio that fits your risk tolerance using active management tactics.

Questwealth Portfolios Features:

The key features of Questwealth include:

1. Automatic rebalancing: Your portfolio management is set-it-and-forget. It is automatically rebalanced as needed depending on market conditions.

**2. Tax efficiency: **Tax-loss harvesting techniques are used to lower your capital gains tax. Also, dividends are automatically reinvested.

3. Multiple accounts: It also offers RRSP, TFSA, RESP, LIRA, LIF, and other popular registered and non-registered accounts.

Wealthfront Alternatives in Canada

Other than Wealthsimple and Questwealth, Canada is home to a number of Robo-advisors that provide minimal costs, a variety of investment options, expert investment advice, and more. Many of these services also give users the choice to speak with actual, live professionals for further counsel and direction.

In fact, you will find plenty of Wealthfront alternatives in Canada to select from? So, take your decision wisely. Do you have any other investing platforms to share? Feel free to discuss.