Short answer? Yes. Not every investor wants to research stocks, compare funds or place their own trades. And, you don’t have to. Whether you're brand new to investing or just prefer a simpler approach, there are proven ways to build a portfolio without going fully DIY.
The real question isn’t, "Should I invest?" It’s, "How hands-on do I want to be with my investments?" Another key part of the big picture is figuring out how to invest without having to choose your own stocks or ETFs.
Your options if you don't want to build your own portfolio
You’ve got a couple of paths in front of you, and neither requires you to pick a single stock:
Managed investing: Also known as ”guided investing,” where you answer a few questions about your goals, timeline and comfort with risk. From there, your portfolio is matched to you and managed on your behalf.
Working with a financial advisor: A financial advisor builds and manages investments for you, often alongside broader financial planning.
Both approaches are often used by Canadian investors. Bottom line, you can absolutely invest without choosing your own portfolio. The key decision is how much help you want and do you want to pay for that service.
Learn how managed services and financial advisors use your profile to recommend and manage a portfolio on your behalf.
What this looks like in practice
Managed investing apps
If you’re thinking, “I want to invest, but I don’t want to build a portfolio," then a managed investing app (or guided investing) is usually the simplest way to go.
Here’s how it works:
- You complete an investor profile on the app.
- The service matches you to a portfolio.
- The platform takes care of the investing decisions.
That’s the appeal. It’s investing, managed for you.
Investly is built around exactly this idea. You answer a few questions and get matched to a portfolio based on your goals, your financial circumstances and risk tolerance. The platform handles the rest.
A financial advisor
One way to invest without choosing your own investments is by working with a (human) financial advisor. This makes sense if you want deeper planning support, ongoing conversations or advice that goes beyond investing, into broader financial planning.
The tradeoff? It’s usually more costly, takes more time and often isn’t as simple. A financial advisor may offer more personal guidance, but it’s not always the easiest starting point for someone who mainly wants to open an account and get started.
Buying one ETF yourself is simpler, but it’s still self-directed
A lot of investors hear that buying one all-in-one ETF is easy. Compared to picking individual stocks, that can be true. But it’s still a self-directed choice.
You still have to open the account, choose the ETF yourself, decide when to buy, place the trade and then stay comfortable managing that over time. On top of all that, if you want to make regular contributions, then you’ll have to set that up yourself and might need to pay automation fees too.
Plus, discount brokerages generally don’t match you with a portfolio based on your investment profile. Instead, they let you decide if your investment choices are right for you. So, if your real goal is, "I don’t want to choose the investments," buying one ETF yourself may be simpler than stock picking. It’s just not the same thing as managed investing.
Why a managed investing app feels easier for many investors
Making your first few decisions with confidence can be the toughest part of investing. Which account should you open? How risky is too risky? How long should you invest? All reasonable questions when it’s your money on the line.
A managed approach can remove a lot of that early pressure. Instead of starting with a product list, you start with your specific situation, and the service uses that information to take care of the investing part.
Investly is designed to make that experience as straightforward as possible. You answer an investor profile questionnaire as part of the app onboarding. Then, the portfolio matching is built around your goals, time horizon and risk profile. Those hard decisions are handled, so you can get started without choosing the investments yourself. You just need to show up with your answers.
A quick way to compare your options
If you’re deciding between different hands-off investing paths, this simple breakdown can help.
Managed investing app
Best for someone who:
- Wants a simple start
- Doesn’t want to choose stocks or ETFs
- Prefers low fees
- Is comfortable letting the provider manage the portfolio automatically
Financial advisor
Best for someone who:
- Wants deeper human guidance
- May need broader financial planning support beyond just investing
- Has more complex tax and estate needs
One all-in-one ETF in a self-directed account
Best for someone who:
- Wants a simpler DIY route
- Is still comfortable choosing the investment themselves and placing their own trades
What you need to think about before you decide
When you're deciding if hands-off investing is right for you, there are some other factors to consider.
You still need to ask yourself:
- Whether you want a managed service or a self-directed account
- What is your money for (ex. long-term growth, general saving or a first home)
- How much risk you’re comfortable taking
- Which account type makes sense to open first
- Whether you’re comfortable letting the provider make investment decisions on your behalf
Simply put, a managed service means the provider can make investment decisions for your portfolio without asking for your approval every time. For many investors, that’s a good thing. For others, it can feel like giving up too much control.
If you want to choose every investment yourself, a self-directed path may suit you better. If you want help with the investment decisions and an easy way to start, then managed investing is usually the closer fit.
A note on fees and minimums
Managed investing apps in Canada generally charge a management fee, typically in the range of 0.5% or less annually, plus the underlying fund expenses. That’s a straightforward cost structure compared with some alternatives.
Many managed investing apps also allow you to start with low minimum investments. That means you don’t need a large amount of money to get going. The most important thing is to understand the full fee picture before you commit, including both the management fee and any fund-level costs.
What to check before you sign up
If you already know you don’t want to pick your own investments, the next question isn’t, "can I do this?" It’s, "which provider should I trust?"
Before you choose a managed investing service, look at how the provider explains its process and what account options it offers. Double check how fees are presented and what support is available if you have questions.
You should also think about the account itself. If you’re opening your first account, find out if a TFSA or FHSA makes more sense for your goals.