The online wealth-management space became a little more crowded on Thursday with the launch of Toronto-based Antya Investments Inc.

The service allows clients to complete a risk profile assessment online and then be connected to Antya founder and portfolio manager, Neeraj Monga, who will discuss the results with clients and recommend one of three core portfolios that are constructed mainly of low-cost exchange-traded funds but can be supplemented with actively picked stocks.

Although the process may sound like one belonging to a robo-advisor, Monga believes the way he tests the success of his portfolios differentiates him from his competitors. Monga’s quantitative analysis includes data on more than 10 asset classes and involves simulating the performance of those different asset classes and comparing them to an appropriate benchmark to determine if Antya’s portfolios are outperforming their benchmarks.

“You cannot design an algorithm, stress-test it quantitatively and then assign probabilities without having a deep understanding of the markets that you work in,” says Monga. “In that sense, our platform is not a robo-platform.”

Antya provides clients with access to one of three styles of portfolios: Antya 20/20, for investors looking for growth; Antya Pivot, which comes with a balanced mandate; and Antya Sleep Easy Income Portfolio, for investors looking for income. (There are two variants within the firm’s growth and income portfolios.)

Antya charges an annual management fee of 0.5%, which may be reduced depending on assets under management. It also offers portfolio reviews on a fixed-fee basis to Canadians who are looking for a second opinion of their existing portfolios.

The firm is registered in Alberta, British Columbia and Ontario. Monga is currently the only portfolio manager but he plans to hire other managers as the business grows.

Monga founded Antya after leaving Toronto-based Veritas Investment Research Corp. He was at Veritas for 13 years, which included eight years as head of research, during which he provided valuation advice and investment recommendations to money managers throughout the world.