Investing · Robo-advisor review
ModernAdvisor review
A solid, Desjardins-backed robo with one of the widest account lineups — held back by unpublished fund costs and a fee that only gets interesting past $250k.
Best for: Investors who want credit-union-system backing and breadth (RDSP included) over the lowest fee
Pros
- Wide account lineup including RRIF, LIRA, FHSA and RDSP
- Fees tier down to 0.30% past $1M (0.20% over $5M)
- Desjardins Group ownership; custody at Aviso / CI Investment Services (CIPF members)
- Personal Portfolio Manager service for households over $400k
Cons
- Underlying MERs not published on an accessible page — all-in cost unknown
- 0.50% on the first $250k — Questwealth pricing it isn’t
- Fee schedule changed April 2025, so most third-party reviews are quoting dead numbers
Who ModernAdvisor is
ModernAdvisor is the quiet one: a BC-born robo now owned by Desjardins Group, custodied at Aviso and CI Investment Services (both CIPF members), with portfolio menus spanning passive Core, SRI, an active-blend Harmony line, and even HISA portfolios for parked cash.
Where it stands in the field
The fee schedule (refreshed April 2025 — beware stale reviews) starts at 0.50% and tiers to 0.30% past $1M, with a $2.50/month floor. Mid-pack pricing, wide account support, and a Personal Portfolio Manager for households over $400k that edges it toward the hybrid camp at size.
Our hesitation matches the Wealthsimple critique: the underlying MERs aren’t published on a page we could verify, so the all-in cost isn’t public. For a product whose whole pitch is cost-efficient management, that’s a real gap.
For retirees
RRIF and LIRA support plus the RDSP — which almost nobody else offers managed — makes it genuinely useful for families with disability planning in the picture. Above $400k the PM service adds a human layer. It’s a credible, safe choice that simply never wins a category outright against the specialists in our ranking.
Frequently asked questions
What does ModernAdvisor cost, all-in?
Management fee: 0.50% to $250k, tiering down to 0.20% over $5M (minimum $2.50/month). Underneath: Not published on an accessible page — excluded rather than guessed. Minimum: $1,000 invested ($0 to open). Figures verified at the provider's own pages on June 10, 2026 — see how the all-in cost ranks on our Best robo-advisors comparison, and what fee differences compound into with the MER calculator.
Which accounts does ModernAdvisor support? Can it hold a RRIF?
TFSA, RRSP, RRIF, LIRA, FHSA, RESP, RDSP. Yes — RRIF support means the portfolio can convert at 71 and stay managed, with no forced transfer. See the RRIF minimum calculator for the drawdown schedule.
Is my money safe at ModernAdvisor?
Assets custodied at Aviso or CI Investment Services — CIPF members. CIPF covers up to $1M per account-category group against the firm failing — never against markets falling. For cash deposits (a different regime), see the CDIC coverage planner.
The bottom line
Nothing wrong, nothing dominant: ModernAdvisor is the dependable mid-field pick, strongest where its breadth is the feature — RDSP support, Desjardins backing, a PM at size. Cost-first investors will keep walking to Questwealth.
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This review is for educational purposes only and is not investment advice. Commissions, FX rates, account fees and offers shown were verified at the broker's own published pricing on June 10, 2026 and change without notice. Our editorial rating reflects costs, account lineup, currency handling and service — it is never paid for. CIPF protects against member-firm insolvency, never market losses. Confirm current terms on the broker's site before opening an account. See our methodology.