Invisor has launched a goal-based, online investment management service.

On May 19, the company announced the launch of its Invisor.ca web site, which offers personalized investment management with no minimum deposit. Invisor says that the difference between its web site and other so-called "robo advisor" offerings is that it takes a goal-based approach.

Invisor begins by offering clients a free goal-based investment plan before they open an account online. This way, instead of focusing on what investment products to purchase, Invisor says it can consider the individual’s situation and recommend an appropriate mix of low-cost mutual funds and exchange-traded funds (ETFs).

Invisor charges a flat fee of $10 a month for the first $20,000 of investments per household, and management fees of 0.6% for the first $100,000, 0.5% on amounts between $100,001 and $250,000, 0.4% on the next $250,000 ($250,001 to $500,000), and 0.3% on investments above $500,001.