DIY Investing vs. Managed Portfolios: Which Is Right for You?

When I first launched my business five years ago, I was firmly in the DIY camp. I was tired of seeing people—especially women—pay 2.5% or even 3% in investment management fees and getting little in return besides a basic portfolio. My mission was clear: teach women how to confidently manage their own money and invest wisely, without handing over their hard-earned returns to high-cost advisors.

That passion led me to create Her Freedom Fund, a program that gives women the knowledge and tools to take control of their money and start building wealth on their own terms.

But here’s the thing I’ve learned after working with hundreds of women: one size does not fit all.

Some love managing their own portfolios. Others learn the skills, feel empowered, and then realize they’d rather spend their time on other parts of life. Both paths are valid.

So let’s look at the pluses and minuses of DIY vs. managed portfolios—and how to decide what’s right for you.

The Case for DIY (Do-It-Yourself Investing)

Pros:

• Cost savings: You avoid hefty management fees (which eat away at your returns). With a discount brokerage and low-cost ETFs, your fees can be close to zero.

• Control: You decide where your money goes, and you’ll never wonder if someone else is making decisions you don’t agree with.

• Confidence & learning: When you understand how investing works, you feel more in control of your entire financial life—not just your portfolio.

Cons:

• Time & energy: Managing a portfolio isn’t “set it and forget it.” Rebalancing, tax considerations, and strategy adjustments take time.

• Emotional discipline: It’s easy to panic in down markets or get too greedy in hot markets. The biggest risk for DIY investors often isn’t the portfolio—it’s our own behavior and emotions.

• Complexity over time: As your wealth grows and you get closer to retirement, the stakes are higher and the strategies more nuanced. That’s when many people start to feel uneasy doing it alone.

The Case for a Managed Portfolio

Pros:

• Convenience: Someone else handles the day-to-day decisions, rebalancing, and monitoring.

• Expertise: Professional managers can implement sophisticated strategies, especially around retirement, tax planning, and drawdown.

• Peace of mind: You have a team watching over your money—freeing up mental space and energy.

Cons:

• Fees: Traditional managed portfolios can be expensive (often 2%+), and over decades, that can mean hundreds of thousands of dollars lost.

• Less control: You’re not the one making the calls, which can feel uncomfortable if you like being hands-on.

• Quality varies: Not all managed portfolios are created equal—many of the big bank options are expensive and underperforming (trust me, I've seen enough of them to know!).

Why I Partnered With Justwealth

Over the years, I watched women graduate from my program feeling empowered and capable—but many told me the same thing:

“Michelle, I’m so glad I learned the basics. But I don’t actually want to do this myself.”

And that’s perfectly okay.

That’s why I partnered with Justwealth, one of Canada’s top robo-advisors. They’ve been named Best Robo-Advisor in Canada by MoneySense for four out of the last five years running, and their performance has consistently outpaced both the banks and most of their competition.*

Here’s what makes this partnership different:

• Low-cost portfolios: Built using ETFs to keep fees minimal.

• 70+ tailored portfolios: Whether you need a tax-efficient non-registered account, income-generating options for retirement, RESP target date portfolios, or even USD portfolios, Justwealth offers specialized solutions designed to meet your specific goals.

• Full-service approach: My clients get a dedicated portfolio manager at Justwealth plus me as their financial planner. That means you get both professional portfolio management and financial planning—something most traditional advisors don’t provide.

• Lower fees, more value: Most advisors charge 2–2.5% for portfolio management alone (no planning, since most are really just mutual fund salespeople). With Justwealth, you get both portfolio management and financial planning for less than 1% (plus ETF fees).

This feels good—for me and for my clients. I get to uphold my values of low cost, high impact advice, and you get the best of both worlds: confidence, convenience, and support.

The Bottom Line

If you love learning, want maximum control, and have the time and discipline, DIY can be a fantastic way to grow wealth—especially when you’re younger or just getting started - and I will continue to cheer you on from the sidelines all.day.long!

If you’d rather free up time and energy, have a growing portfolio that feels “too big to DIY,” or simply want the peace of mind of a professional manager, a managed portfolio is a smart option—especially when you choose a low-cost solution.

The most important thing? Give yourself permission to choose the option that feels right for you. Money is a tool for freedom, not stress.

✨ Ready to explore whether a managed portfolio with financial planning support is right for you? Book a call with me here . Let’s talk through your goals and figure out the best path forward.

*Past performance does not guarantee future performance. But there’s comfort in a strong track record, if you ask me.