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Questwealth Referral Code (Feb 2023): Invest $10,000 Free

You can invest up to $10,000 for free for 1 year when you sign up for a new Questwealth Portfolio account using our Questwealth referral code “SAVVY50”.

That means you don’t pay management fees for 12 months and can grow your portfolio faster.

Questwealth is the robo-advisor wealth management service offered by Canada’s top independent brokerage platform, Questrade.

If you want to open a self-directed investment account instead, you can use the same referral code to get $50 in free trade credit or read our article about Questrade’s offer code.

Read on to learn about Questwealth, how it works, its pros, cons, fees, account types, promotional offers, alternatives, and whether it is safe.

Questwealth Referral Code

 To take advantage of this Questwealth offer, sign up here and follow the steps below.

  • Click on “Open an Account” on the page you are re-directed to on Questwealth.
questwealth 10000 promotion 1
  • On the new page, choose “Questwealth portfolio” by clicking on “Add” (see image below)
  • The Questwealth referral code SAVVY50 is automatically added to your new account in the “Offer code” section. If you don’t see it, simply type SAVVY50 in the box and click on “Apply” to claim the sign-up bonus.
Questwealth 10000 promotion canada
  • Accept the terms and conditions and click on the “Open Now” button to proceed. You will now be asked to create a user ID and set up your account.

Fund your account with at least $1,000. This offer waives the management fees on your account on up to $10,000 invested.

Invest Up to $10,000 Free.

What is Questwealth?

Questwealth is a robo-advisor service. If you want professionals to manage your investment portfolio for you, Questwealth is a great option.

It offers a variety of accounts, including TFSA, RRSP, RESP, corporate, LIRA, LRSP, LIF, RRIF, and personal non-registered investment accounts.

Questwealth uses low-cost ETFs to build a portfolio that matches your risk tolerance and investment needs, including:

  • Aggressive growth portfolio
  • Growth portfolio
  • Balanced portfolio
  • Income portfolio
  • Conservative portfolio

You can also invest according to your ideals using one of its Socially Responsible Investment Portfolios (SRI).

All these portfolios are actively managed by experts.

Questwealth Fees

The management fees for Questwealth vary depending on your account balance:

  • $1,000 – $99,999: 0.25% per year
  • $100,000 and more: 0.20% per year

The ETFs in your portfolio also have in-built fees that range from 0.17% to 0.35%.

When the US dollar is required to buy or sell ETFs in your account, a 100 basis points fee (0.01) is added to the exchange rate.

Is Questwealth Safe?

Yes, Questwealth is safe. It is owned by Questrade, one of the best investment platforms in Canada.

Questrade has more than $30 billion in assets under management.

It is a member of the Canadian Investor Protection Fund (CIPF), which means your account is insured for up to $1 million in the unlikely event that the company becomes bankrupt.

Questwealth and Questrade also protect your account with an additional $10 million in private insurance.

Questwealth Promotional Offers

In addition to the Questwealth referral code, you can get $50 in free trade credits when you open a Questrade stock and ETF trading account and use our referral code SAVVY50.

Also, Questrade has a referral program that rewards you when friends open an account using your referral code or link.

For example, you earn $25 for every referral and get an extra $50 bonus for every third referral.

Your friends also earn a cash bonus depending on how much they deposit (up to a $250 bonus).

How To Refer Friends To Questwealth

Sign in to your Questwealth account.

Select “Account Management” and click on “Refer a Friend”

Copy your unique Questrade referral code using the QPass key and share it by email or text.

Questwealth vs. Questrade

Questrade is for delf-directed investment accounts where you buy and sell stocks, ETFs, and other assets based on your own discretion.

No financial advice is offered, and you don’t pay management fees.

ETF purchases are free; however, you pay a $4.95 to $9.95 fee when you sell. There are also trading fees when you buy and sell stocks.

Learn more about how it works in this Questrade review.

Questwealth vs. Wealthsimple Invest

Wealthsimple Invest is the most popular robo-advisor in Canada. Like Questwealth, it offers both registered and non-registered investment accounts.

The management fee on Wealthsimple Invest ranges from 0.40% to 0.50%.

Get more details in this review.

Pros of Questwealth

  • Low-cost robo-advisor service
  • Automatic portfolio rebalancing
  • Tax management through tax-loss harvesting
  • Automatic dividend re-investing
  • Reputable company

Cons of Questwealth

  • You don’t get to choose the ETFs in your portfolio
  • Management fees are an add-on to inbuilt ETF fees

Questwealth Referral Code FAQs

What is the promo code for Questwealth?

The best Questwealth promo code is SAVVY50. This code gives you free investing for one year on up to $10,000 invested.

How do I get $50 on Questrade?

Sign up for a Questrade account here and fund your account with at least $1,000.

Questwealth Referral Code
  • Ease of use
  • Accounts and products
  • Welcome offer
  • Security
  • Fees
4.8

Summary

Use our Questwealth referral code “SAVVY50” and invest up to $10,000 free for 1 year. This Questwealth referral bonus is the best offer in Canada.

Pros

  • Lowest cost robo-advisor in Canada
  • Automatic portfolio rebalancing
  • Offer tax-loss harvesting
  • Automatic dividend re-investing
  • It is operated by a reputable company

Cons

  • You don’t pick the ETFs in your portfolio
  • Management fees add-on to inbuilt ETF fees

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Author

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SavvyNewCanadians Team

The SavvyNewCanadians Team work to break down Canadian personal finance information into easy-to-understand, actionable bits. Drawing from education in finance and over 20 years of combined experience writing about money matters, we aim to help you make smarter money decisions.

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