This ModernAdvisor review covers accounts offered by ModernAdvisor, available portfolios, investment fees, investment strategy, features and benefits. If you’re new to investing and looking for a Robo advisor to help you understand the basics without putting your capital at risk, ModernAdvisor is an excellent option to consider. ModernAdvisor is one of several advisory robots available to Canadian investors that allows you to passively invest while behind-the-scenes real algorithms and experts manage your investment portfolios. ModernAdvisor, like most of the best Robo advisors Canada has, works by creating customized portfolios for its investors with different investment objectives depending on their risk tolerance and preferences.
Like most Robo-advisers, ModernAdvisor invests your money in a portfolio of exchange-traded funds (ETFs) based on your investment objectives, timing, and risk tolerance. Similar to other Robo-advisers, ModernAdvisor uses low-cost ETFs to develop risk-rated portfolios for investors with various investment objectives. For example, Questrade uses Robo-advisors and CFA recommendations to invest in low-cost ETFs. ModernAdvisor uses the Credential Qtrade platform to invest, resulting in hidden fees exceeding the fees charged by ModernAdvisor.
While fees vary, and it’s possible to invest cheaper buying an all-in-one ETF than a robot (although you’ll have to do all the investment work yourself), the costs are still well below the average mutual fund fee of around 2%. Of course, this also means that you can get the product at a lower price than using a more traditional investment advisor. In addition, robotic advisors tend to offer much lower management fees than the typical investment advisor, the latter of which also tends to charge a percentage of your assets.
With this in mind, it’s hard to beat Robo advisors like ModernAdvisor, which allows investors to significantly increase their wealth and minimize risk without the large amounts of capital and fees typically required by human advisors. Robo-advisers like ModernAdvisor offer a simplified investment solution and an affordable alternative to traditional in-person investment brokers. If you are looking for a robotic advisor with low fees and diversified investment strategies, ModernAdvisor might be the option for you. With ModernAdvisor’s Robo-advisor offerings, you can expect to diversify your portfolio broadly by paying competitive management fees.
In addition to a broad free portfolio, ModernAdvisor offers one of the most competitive pricing structures for portfolios up to $100,000. ModernAdvisor also provides benefits for account holders over $100,000, making the service worthwhile for a 0.4% fee.
They will help you create your wallet and fund it with $1,000 on your behalf. If you want to see how their portfolios perform and are set up, ModernAdvisor offers the opportunity to try investing with them for free for 30 days using $1,000 of their money. If you’ve used ModernAdvisor recently, please add to our Modern Advisor review below.
Modernadvisor Review Canada
People wary of jumping on the Robo-advisor bandwagon can now try ModernAdvisor services for free with a ModernAdvisor trial account. To give you an idea of what ModernAdvisor has to offer, you can sign up for a 30-day trial account where you can use ModernAdvisors services and receive $1,000 in “play money” to give you an idea of how the platform works. The service works 1000$ in “counterfeit money”. If you happen to earn before the 30-day trial expires and if you decide to create a real investment account with ModernAdvisor, you can save and transfer any profit you make using your $1,000 in virtual money (you can’t keep $1,000 for yourself). ).
ModernAdvisor offers MapleMoney readers $50,000 for one year free when opening and funding a new account. So get your first managed year free by opening a ModernAdvisor account by June 30, 2018.
Thanks to my partnership with ModernAdvisor, My Advisor readers will also receive a $50 bonus when they open and fund a new ModernAdvisor account (yours will indeed receive a small thank you bonus for recommending). So make sure you have the information below at hand, then click here to open a ModernAdvisor account and instantly get $50,000 free – for an entire year – with our exclusive Modern Advisor promo code. In addition, with ModernAdvisor, you have access to highly qualified assistance to help you get the right manageable portfolio, always in a new way.
ModernAdvisor clients have on-demand access to a team of certified portfolio managers and certified financial planners. ModernAdvisor Pro is a service for financial advisors that provides tools and resources to manage your account to grow your business. At ModernAdvisor, we provide top-notch investment management services at a fraction of the cost.
ModernAdvisor is somewhat unique among Robo-advisers. ModernAdvisor uses a hybrid model of passive and active investing to profit and actively looks for opportunities to outperform the market. Using investment software and automatically passively rebalancing your investment portfolio with algorithms and experts behind the scenes is a great way to invest. Modernadvisor is a robust Robo advisor that offers many benefits. If you want to start investing with a Canadian Robo-advisor and don’t want to pay any fees, ModernAdvisor might be for you. ModernAdvisor offers responsible investment options through ESG portfolios and Canadian and emerging market ETFs government bond ETFs and real estate investment funds.
You can calculate the performance of ModernAdvisor’s portfolios over the years on their website. All of its portfolios are customized based on an individual risk tolerance assessment and compiled by Certified Financial Analysts (CFA), one of the highest ranks in the investment sector. The unique strength of Questrade lies in developing your portfolio using algorithms and Chartered Financial Analysts (CFAs).
ModernAdvisor’s “Hybrid Investment Strategy” means that ModernAdvisor will rebalance your account whenever it deviates more than 5% from your stated goals. There is no scheduled time to see your Robo rebalance your portfolio. Still, it will happen automatically when there is an absolute difference of 5% (high or low) from the original investment.