. Vanguard Canada offers five “asset allocation” ETFs with varying levels of equity exposure , all with MERs of 0.25 per cent. Bank of Montreal and iShares recently introduced similar one-stop ETFs. The actual MERs for these BMO and iShares products are not yet available but will likely be about 0.2 per cent.
Wealthsimple, for instance, charges 0.5 per cent for deposits up to $99,999, and 0.4 per cent when total deposits across accounts reach $100,000 or more. This is on top of the MER of about 0.2 per cent, on average, charged by the ETFs. But many robo-advisers also provide financial planning, tax advice and other perks that typically increase with the level of assets, so those extra costs are buying additional service.
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