Rise of robo-advisors in mortgage business could have an impact

Toronto-based Justwealth Financial Inc. has joined the growing ranks of robo-advisors with the announcement on Tuesday that it has launched its online investment portfolio management platform, which provides investors with more than 60 distinct portfolio options at low annual management fees ranging from 0.40% to 0.50 %.

“Our mantra is to provide Canadians with transparent, honest advice, so they know exactly what they’re getting and what they’re paying for,” says Andrew Kirkland, co-founder and president of Justwealth, and most recently a vice president with Invesco Canada Ltd., in a statement. “Trust in the financial services industry is decidedly low, which isn’t all that surprising given all of the conflicts of interest that exist. By putting our clients’ interests first, we hope to restore the trust of investors.”

A dedicated personal portfolio manager and support team, which includes financial planning and ongoing portfolio rebalancing, will serve each Justwealth client, who will have access to refined investment strategies such as tax-loss harvesting and annual target-date portfolios for registered education savings plans. Justwealth has also engineered specific portfolios for registered and non-registered accounts that can accommodate growth, income or capital preservation investment objectives.

“There are many different types of investors, with different priorities, dreams, and goals,” says James Gauthier, co-founder and chief investment officer with Justwealth, who has worked at the asset-management divisions of three major banks. “Our approach is to take the time to learn about each clients’ complete financial picture, and to leverage our extensive portfolio roster to customize a solution that is personalized to meet their needs.”

Justwealth’s advisory board includes Malcolm Hamilton, a retirement expert with C.D. Howe Institute; Lisa Kramer, a finance professor at the University of Toronto who focuses on behavioural investing; Carol Stewart, president and CEO of Kellogg Canada Inc; and Naman Budhdeo, founder and CEO of FlightNetwork.com.

More information about Justwealth is available at Justwealth.com.

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