Invisor robo-advisor review
Using its proprietary portfolio construction methodology with expert investment advice, Invisor enables you to optimize and grow your investment portfolio.
You can be up and running with an account in 20 minutes or less with Invisor.
Based in Oakville, Ontario, Invisor is a relatively new player in the robo-advisor market having been established in 2014. Like many other robo-advisors, Invisor charges a flat fee to clients to manage and invest their portfolio. In getting set up with Invisor, it asks you a number of questions to assess your risk profile in order to come up with a portfolio plan that is tailored to your needs.
On top of managing your investment portfolio, Invisor also offers a goal-planning tool called InvisorGPS where you can keep track of your investment goals both in the short and long term while also receiving expert analysis along the way.
Read on to find out how Invisor‘s robo-advisor can benefit your investment needs and learn more about what you need to do to start investing with it.
What is Invisor‘s robo-advisor?
Canada’s automated investing sector has consistently grown over the past decade and the introduction of Invisor into this space is a prime example. Invisor is unique in it offers robo-advisory services along with a suite of insurance products as well. On the robo-advising side, Invisor seeks to break away from big bank robo-advice by being a low-cost competitor that is agile and adaptable to customer needs (source).
Invisor‘s robo-advisor works by trying to simplify investing by moving more towards a goal-based approach over a product-based one. The result is a service that is low in cost and comes with a tailored approach to a client’s investment mix that is flexible to meet the risk profiles of its customers.
To get started, customers will be asked a series of questions to determine their risk profile. Many of these questions are basic in nature but others are more hypothetical involving different investment preference scenarios. Once you’ve completed the questions, Invisor will then create a recommended portfolio based on your answers.
How much does Invisor‘s robo-advisor cost?
There is a flat 0.5% management fee across the board on all accounts, no matter the account size. Whether you choose to invest $5,000 or $5,000,000, the 0.5% management fee will apply in both cases. This is beneficial for you because you don’t have to think about a sliding-cost scale based on the amount of money you have invested in your portfolio.
Included in this 0.5% management fee is:
- A personalized investment strategy and portfolio built around your goals
- Regular portfolio monitoring and rebalancing as required
- Portfolios managed by an experienced team of investment professionals
- Market updates and reviews of your portfolio’s performance
- No trading or administrative fees
It should be noted that there is an extra 0.2% fee added on if you have ETFs within your portfolio. This 0.2% is added on to the 0.5% management fee for a total of 0.7%.
What are the benefits of Invisor‘s robo-advisor?
There are a number of benefits that you can take advantage of if you sign up for Invisor‘s robo-advisor:
- Quick application process. You can be up and running with an account in 20 minutes or less with Invisor.
- Fixed cost. Customers don’t have to worry about sliding-cost scales with Invisor as you’ll pay a flat 0.5% management fee which bumps up to 0.7% if you have ETFs in your portfolio.
- Exclusive. Invisor uses a proprietary portfolio construction methodology that takes into account your risk profile and how much you want to invest.
- No minimum balance. There’s no minimum amount you need to invest to use Invisor‘s robo-advisor services.
- Goal tracking. Set your personal investment goals in the short and long term and use the InvisorGPS tool to track your progress.
- Accessible. An Invisor investment expert is just one call away to answer any and all questions you may have regarding your investment portfolio.
What should I watch out for?
Despite the benefits of using Invisor‘s robo-advisor services, there are a few potential drawbacks you’ll want to be wary of when using its services:
- Legitimacy. While there are a number of benefits for using Invisor‘s robo-advisor services, Invisor just doesn’t have the same established reputation of any of the larger financial institutions in Canada.
- Delay in support. Invisor is a very small company and there might be a delay in receiving support if you have issues or questions with your portfolio.
- Potential for financial losses. If you have a penchant for high risk, there is always a fair chance of losing money on your investments.
What should I know before I apply?
To invest your money using Invisor‘s robo-advisor, you need to meet the following eligibility requirements:
- Be at least 18 years of age.
- Be a Canadian citizen or resident of Canada.
- Live in the following provinces: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island, Quebec and Saskatchewan.
How to apply
If you meet the eligibility requirements and want to proceed with signing up for an account to use ‘s robo-advisor services, you need to apply by doing the following:
- Sign up for an account on Invisor‘s website by providing your first and last name, email, a password and the province you live in.
- Click on the Open My Account button in the Invisor dashboard to begin the question and answer process to determine what your investment goals are (retire comfortably, fund child’s education, save for a major purchase and/or grow your investments).
- Receive your risk profile and the portfolio recommendation.
- Enter your SIN and banking information for a deposit account.
How to invest and withdraw funds
To invest and withdraw funds from Invisor, you must first enter your banking information which includes a deposit account or if you are transferring funds from another account, you’ll need a copy of your most recent statement from the relinquishing institution. Once you have linked your banking information, you can begin transferring funds to invest into your Invisor account. To withdraw, you need to simply specify the deposit account to withdraw your funds into.
Compare other robo-advisors
If you’re looking for a low-cost robo-advisor investment service, Invisor‘s team of experienced investment professionals coupled with its own proprietary portfolio construction software provides tremendous value to Canadians looking to set and meet short- and long-term investment goals.