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Nest Wealth review

Take advantage of low fees on an investment portfolio that’s tailored to your unique set of needs, lifestyle and budget. 

You can open an account in a matter of minutes from the comfort of your own home.

Please note: All information about Nest Wealth has been collected independently by Finder and this product is not available through this site.

Do you have a bit of spare cash kicking around? You might like to try investing with Nest Wealth‘s robo-advisor. This data-fuelled investment platform is designed to take the guesswork out of building your investment portfolio while giving you proven results.

From providing recommendations to monitoring your investments and rebalancing your accounts when necessary, Nest Wealth has you covered. And the best part is, Nest Wealth’s team of experts is always just a phone call away if you want to ask any questions about your account.

What is Nest Wealth‘s robo-advisor?

Nest Wealth‘s robo-advisor is designed to make your money work for you by putting your investments into a custom package that’s tailored to fit your unique profile. All you need to do is input data about your finances and risk appetite. Then, Nest Wealth will match you to a bundle of exchange traded funds (ETFs), which are similar to mutual funds except with lower fees.

If you like the package that’s recommended for you, you can connect your bank account to the online platform to invest your money. Nest Wealth‘s robo-advisor will then invest those funds into the ETFs that you’ve agreed to. Its team of investment gurus will also track your accounts and re-balance them when necessary to make sure your investments stay in line with your risk profile.

How much does Nest Wealth‘s robo-advisor cost?

Nest Wealth claims to have the lowest monthly investment fee in Canada, though it’s difficult to say if this is true for smaller accounts. This is because you’ll pay a set price for a certain tier of investing (for example, $20 for anything under $75,000).

This means you’ll pay the same amount to invest $1,000 as you will to invest $75,000, which isn’t a great deal for those on the lower end of the spectrum.

What fees will I have to pay?

Nest Wealth’s robo-advisor charges a flat fee for different investment amounts. The fee schedule that applies is outlined in the table below:

Amount

Monthly rate

under $75,000

$20

$75,000 to $150,000

$40

$150,000+

$80

You’ll also have to pay a custodian fee for any trades you make. These range from $7.99 - $9.99 per trade, but Nest Wealth will cover any amount over $100 per year.

What are the benefits of Nest Wealth‘s robo-advisor?

You’ll be able to cash in on a number of benefits when you sign up for Nest Wealth‘s robo-advisor.

  • Easy application. You can open an account in a matter of minutes from the comfort of your own home.
  • Personalized portfolio. Nest Wealth‘s software will use your personal data to find the best suite of investments for your unique circumstances.
  • Low fees for large amounts. You’ll pay less in fees than you will with other providers when you have large amounts invested with Nest Wealth.
  • Active management. Nest Wealth has a dedicated team of portfolio managers on hand to monitor and rebalance your accounts as necessary.
  • Real-time rebalancing. Your portfolio will be automatically rebalanced by Nest Wealth‘s software when market conditions change.
  • Easy to review. It’s easy to check your balances online with 24/7 access to your investments through your online account.

What should I watch out for?

Along with the benefits to Nest Wealth‘s robo-advisor, there are a couple of potential drawbacks you should keep an eye out for:

  • Potential for financial losses. You may lose money on your investments, especially if you have a high appetite for risk.
  • Trading fees. You’ll pay custodian fees between $7.99 - $9.99 per trade, though these fees are capped at $100 per year.
  • Data-driven. Your investments are powered by algorithms, which means they rely on Nest Wealth‘s specialized technology to work properly.
  • No manual trading. It’s not possible to move funds around in your portfolio manually, so you’ll need to request assistance if you want to make changes.
  • No in-person service. You won’t be able to visit a branch to speak to a real person.

What should I know before I apply?

Eligibility requirements

To invest your money with Nest Wealth‘s robo-advisor, you need to meet the following criteria:

  • Be at least 18 years old (and 19 in some provinces).
  • Be a citizen or resident of Canada.

How to apply

If you think you meet all the eligibility criteria and you’re ready to start investing with Nest Wealth‘s robo-advisor, you just need to follow the steps below:

  1. Use the online application to provide personal information like your name, email address, proof of ID and relevant documents.
  2. Review and submit your application.
  3. Get verified and negotiate the terms of your investment if you meet the eligibility requirements.

How to invest and withdraw funds

When you’re ready to start investing, you can transfer money from your bank account to fund your investments. You can also set up regular pre-authorized contributions if you want to build up your investments over time.

If you want to take money out of your account, you’ll need to speak to a Nest Wealth advisor to facilitate your transaction. Just keep in mind that it can take up to five business days to process your transaction since ETFs need to be sold and converted to cash.

Compare other robo-advisors

Name Product Min. Deposit Funding methods Management fee Available Asset Types
OFFER
Wealthsimple Invest
$1
Direct deposit, Bank transfer
0.40% - 0.50%
Stocks
Get a $50 bonus when you open and deposit $500 in your account. Trade and Cash accounts are not eligible.
Questwealth Portfolios
$1
Direct deposit, Bank transfer
0.20% - 0.25%
Stocks, Bonds, ETFs, Commodities
A robo-advisor offering low fee portfolios that are actively managed and dynamically rebalanced when market conditions change.
Moka
$0
Automatic bank withdrawals
$3.99/month
ETFs
The Moka app rounds up every purchase you make to the nearest dollar and invests the spare change into low-cost exchange-traded funds (ETFs).
OFFER
Justwealth
$5,000
Direct deposit, Bank transfer, Automatic bank withdrawals
0.50%
ETFs
Receive a cash bonus of $50.00-$500.00 when you open a new Justwealth account. RESP accounts require no minimum deposit to begin investing.
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Bottom line

Nest Wealth‘s robo-advisor offers custom investment portfolios for every kind of investor. It’s a low-fee alternative to traditional investing since there are less overhead costs, though you’re likely to get a similar return. Learn more about how this platform works and sign up for your free account today to start investing.

Frequently asked questions

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.
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