Robo Advisor Companies in the Canadian Marketplace

Overview & Outlook:

• Assets under management in the Robo Advisors segment of the Canadian marketplace amounts to US$8,158m in 2020.
• The average assets under management per user in the Robo Advisors segment amounts to US$20,885 in 2020.
•  Assets under management in the Robo Advisors segment are expected to show an annual growth rate (CAGR 2020-2023) of 26.7% resulting in the total amount of US$16,610m by 2023.
• In the Robo Advisors segment of the Canadian marketplace, the number of users is 390.6 thousand in 2020 and is expected to amount to 761.0 thousand by 2023.
•  Major players in the Canadian marketplace for the Robo Advisors segment are: BMO SmartFolio, Invisor, Justwealth, Modern Advisor, NestWealth, Questwealth Portfolios, RBC InvestEase, Wealthbar, and Wealthsimple.
• In 2020, an ongoing trend is large investment funds implementing robo-advisory technology as the efficiency of automated portfolio management promises high return rates compared to old-fashioned alternatives.
• An emerging trend is humanizing Robo Advisors by adding a human face to supplement the technology behind the Robo Advisor itself to include human components like being paired with a financial advisor, the ability to call a live advisor, or chat online with someone before changing your long-term financial plan.