Investing can feel like a daunting journey, especially for beginners. Fortunately, Canada offers a robust selection of investment products tailored to suit different goals, risk tolerances, and expertise levels at different age levels.
Whether you’re saving for retirement, building an emergency fund, or aiming for financial independence, the key lies in choosing the right investment platform and product. One factor to consider are management fees.
In this post, I’ll introduce you to five of the best investment products in Canada that have impressed me with their simplicity, accessibility, and growth potential.
1. TD Portfolios – Investment Made Simple and Personalized
TD Bank offers ETF Portfolio solutions with low management fees. They currently offer balanced portfolio, conservative portfolio, and growth portfolio solutions.
What makes TD ETF Portfolios appealing is their thoughtfully crafted balance between risk and return. Whether you prefer a conservative, balanced, or growth-oriented portfolio, there’s a premade option tailored to your needs.
Additionally, TD’s strong reputation in banking adds a layer of trust and security to your investments.
The TD Conservative Portfolio has an asset mix of 15% US equities, 15% Canadian equities, 10% International equities, and 60% bonds. If you are not much of a risk taker and looking into investing closing to retiring, this maybe the solution for you.
The TD Balance Portfolio has an asset mix of 25% US equities, 20% Canadian Equities,15% International equity, and 40% bonds. This could be for you if you are moderate risk taker and age of 40-60 but not yet close to retiring.
The TD Growth Portfolio has an asset mix of 40% US equities, 25% Canadian Equities, 20% International equity, and 15% bonds.This could be for you if you are higher risk taker and age of 20-40 trying to build financial wealth
These products are accessible through TD EasyWeb and TD Direct Investing offerings.
I personally use TD EasyWeb myself I have started to really think about how easy it is to make a portfolio WITHOUT having to THINK ABOUT TRADING FEES and it been working well so far with using the dollar cost average strategy !
2. BMO SmartFolio – Robo-Advisor Solution
Robo-advisors have revolutionized how Canadians approach investing, and BMO SmartFolio stands out as a top contender.
The platform automates your portfolio management by using algorithms to build and rebalance your investments based on your risk tolerance and financial goals. It’s particularly advantageous for beginners who want to dive into investing but prefer a hands-off approach. This is good mentality to have when it comes to long term investing and sticking within the markets.
The portfolio management fee is 0.4% to 0.7% per year which is low in comparison to mutual funds.
You can start with a relatively small initial investment and enjoy transparent pricing. Moreover, the service offers tax-efficient investing which you can open a RRSP or TFSA account, which is a crucial factor for maximizing your returns over time depending on your goals and strategy.
3. Sunlife Investment plans – Trusted Stability with Flexible Options
Diversification and professional management are critical, especially if you’re new to investing and want peace of mind.
Typically they are known for professional finance service with a employer sponsored plans along with insurance but they also offer retail investment options to invest without company plans.
Sunlife investment plans provide a comprehensive range of mutual funds and ETF that’s cater to different risk profiles and investment horizons. They have professional advisors for no matter what plan you have or amount, you are able to access professional advice.
They have slightly higher management fees but if you looking for professional advice along with an investment plan it maybe be well worth the cost.
4. RBC InvestEase – Personalize Robo-Advisor Backed by a Banking Giant
RBC InvestEase is another leading robo-advisor service designed specifically for Canadian investors starting their investment journey. By leveraging RBC’s extensive banking experience, InvestEase offers personalized portfolios built using ETFs that align well with your financial goals and risk appetite.
The key advantage here is the blend of technology with human support. While the platform largely automates investment decisions, investors can also consult with RBC advisors to refine their approach. This hybrid model is perfect for beginners who want some assurance and guidance alongside automation.
Moreover, RBC InvestEase charges a reasonable management fee that covers portfolio monitoring, rebalancing, and personalized advice. As investing can often feel overwhelming, knowing there’s expert oversight behind the scenes offers a lot of comfort for newcomers.
5. Questrade Managed Investing – Empowering Control With Expert Support
Questrade Managed Investing combines the benefits of robo-advisors with a human touch, allowing beginners to enjoy expert-driven portfolio management while retaining control over their investments. This innovative platform makes it easy for new investors to enter the market confidently, without feeling overwhelmed by the complexities of managing a portfolio on their own.
By blending technology with professional guidance, Questrade ensures users get the best of both worlds—a streamlined, efficient investing experience backed by knowledgeable support when needed.
One of the key features of Questrade Managed Investing is the diversified portfolios constructed from ETFs (Exchange-Traded Funds). ETFs are popular investment vehicles because they offer exposure to a broad range of assets, reducing risks through diversification.
The portfolios provided by Questrade are carefully designed to match various investor profiles, allowing users to select from different risk levels and themes. Whether you prefer a conservative approach focused on capital preservation or a more aggressive strategy aimed at growth, the platform caters to these preferences with ease.
A major advantage of Questrade Managed Investing is its low fees and transparent pricing. Investing often comes with hidden costs that can eat into returns, but Questrade keeps things straightforward and affordable.
The platform’s budgeting-friendly fees appeal greatly to individuals who want professional portfolio management but without the steep commissions or account minimums typical of traditional financial advisors.
Conclusion
Investing doesn’t need to be complicated or intimidating. With options like TD Comfort Portfolios, BMO SmartFolio, TD Easy Trade, SunLife Investment Plans, RBC InvestEase and Questrade Managed Investing, beginners in Canada have several fantastic avenues to grow their money.
Each product offers unique advantages—whether it’s the simplicity of robo-advisors, the hands-on learning with trading platforms, or the security of investment-linked insurance plans.
Ultimately, the best choice depends on your personal preferences, risk tolerance, and financial goals. By starting with any of these trusted platforms, you lay a solid foundation for building long-term wealth.