Are you looking to open a Questwealth Portfolios account? Using a Questwealth referral code will save you costs.
Sign up on Questwealth referral code WALLETBLISS or link and get a 1-year management fee waiver on up to a $10,000 investment, a $150 transfer rebate and a $50. bonus when you refer your friends.
Investing in a robo-advisor such as Questwealth comes with annual management fees and MERs that impact your overall investment costs.
Besides the management fee waiver, there are several other offers you can access through the Questwealth referral code which I discussed in detail here.
Let’s find out!
Questwealth Referral Code
New Questrade clients that sign up using a Questwealth referral code get access to a management fee waiver on up to $10,000 investment in their first year of registration.
These are the terms and conditions required to get Questwealth referral sign bonus:
- Open Questwealth account using the referral code “WALLETBLISS” or this link
- Fund your account with the required minimum balance of $1,000
- Enjoy the management fee waiver on up to $10,000 investment in your first year
That way, you can save costs from the standard management fee of Questwealth which range from 0.25% for less than a $100,000 balance to 0.20% for a $100,000 balance and above.
In addition to free investment management, you will also get access to other Questrade promotions like:
Questrade $150 Transfer Rebate
If you already have investment accounts with other financial institutions, Questrade makes it simple and cost-effective to transfer them out.
Questrade will reimburse your transfer fees for up to $150 per account transfer. No minimum account transfer requirements.
Simply initiate the transfer from Questrade or the other financial institution. Once completed, upload a supporting document for the transfer fees you’re charged and Questrade will process the reimbursement within a few days.
Questrade Refer-a-Friend Promo
As a new Questrade client, it literally pays to recommend the Questrade services to your friends and family.
When you join Questwealth, you will be assigned your unique referral code which you can use to refer your friends and family to the platform. You will earn a $50 referral bonus for every person that signs up on the platform with your referral code.
With these multiple earning opportunities, you can easily save costs on Questwealth and focus on investing more.
Related: Best Brokerage Promotions in Canada
Questwealth Portfolio is a popular name in the Canadian robo advisory industry. formerly known as Portfolio IQ, Questwealth operates as the robo-advisory platform of one of the leading brokerages in Canada, Questrade.
As one of the best robo-advisors in Canada, Questwealth uses an active investing strategy to offer low-cost automated investing solutions.
With its expert portfolio managers, the portfolio offers five ETF portfolios to accommodate investors with different objectives and risk tolerance. These portfolios are:
- Aggressive growth portfolio
- Growth portfolio
- Balanced portfolio
- Income portfolio
- Conservative income portfolio
Also, the robo advisor supports investing through a wide range of registered and non-registered amounts, such as TFSA, FHSA, RRSP, RIF, RESP, LIRA, LIF and Cash.
Compared to other robo-advisors in Canada, Questwealth is low-cost in terms of management fees as it charges between 0.20% to 0.25% per year.
The drawback of the robo-advisor lies in its minimum investment requirement of $1,000 that may be a concern for investors looking to start investing with little amounts.
Nevertheless, with free tax-loss harvesting and competitive returns, Questwealth Portfolios could be your best robo-advisor in Canada.
Learn more: Questwealth Portfolios Review
Is Questwealth Safe?
The short answer is yes. As the robo-advisory service of one of the leading private brokerages in Canada, Questwealth offers a comprehensive sense of safety ranging from.
- Assets coverage: Assets on the robo-advisor are covered by the Canadian Investor Protection Fund (CIPF) for up to $1 million. Questwealth also has additional private coverage of $10 million per individual account.
- Regulation: The activities of the robo-advisor are regulated by the Investment Industry Regulatory Organization of Canada (IIROC). This means that Questwealth complies with the industry’s best practices.
- Personal information protection: Your personal information on the robo-advisor is protected with industry and bank-standard security measures.
With these, you can invest your funds on Questwealth with peace of mind knowing that both your money and personal information are safe.
Questwealth Promotions vs Wealthsimple Invest Promotions
|Management fee waiver on up to $10,000 for the first year of sign-up
|$25 cash bonus
|$150 (minimum transfer of $5,000 required)
|$50 per referral
|Management fee waiver on up to $10,000 investment for 12 months
|0.20% – 0.25%
|0.40% – 0.50%
|Registered and non-registered accounts
Wealthsimple Invest is currently one of the top competitors of Questwealth in Canada. As the robo-advisory service of one of the top financial and wealth management companies in Canada (Wealthsimple), Wealthsimple Invest also comes with competitive promos.
When you sign-up on the robo-advisor with our referral link and deposit at least $500, you will get a $25 cash bonus.
Like Questwealth, Wealthsimple Invest also offers you a $150 transfer rebate upon switching your investment platform to it. However, the transfer must be at least $5,000 to get the $150 transfer rebate on Wealthsimple Invest.
When you sign-up on Wealthsimple Invest, you will also be assigned a unique referral link you can use to invite your friends and family members to robo-advisor.
And when your referral sign-up on the robo-advisor and deposits at least $10, Wealthsimple Invest will offer you a management fee waiver on up to $10,000 assets for 12 months. This offer also applies to your referral.
The management fees of Wealthsimple Invest range from 0.50% (for less than $100k balance) to 0.4% (for $100k balance and above).
While the management fees and MERs of Wealthsimple Invest are relatively higher than those of Questwealth Portfolios, the robo advisor has no minimum balance requirement.
Besides standard ETF portfolios, you can also access value-loaded portfolios on Wealthsimple Invest, such as Halal and SRI portfolios.
Learn more: Questwealth Portfolio vs Wealthsimple Invest
Final Thoughts on Questwealth Referral Code Review
Despite its low management fees and MERs, Questwealth still manages to offer competitive promotions to further lower your investment costs.
By taking advantage of Questwealth promotions, you can easily save costs and build your investment portfolio fast.
But promotions should not be your only criteria for choosing an investment platform. It’s essential you also consider the minimum investment requirement, fees, supported accounts and portfolios.
If Questwealth Portfolios ticks all your boxes, it’s time to take the practical step of claiming its current promotions. Sign up using Questwealth promo code “WALLETBLISS” or click this link you get started.
Questwealth Referral Code
Questwealth Portfolios offers new client a management fee waiver on up to $10,000 investment in the first year + $150 transfer rebate.