What is M1 Finance?

M1 Finance is a free brokerage and financial platform for anyone to take part in automated investing.

The company is part of the “robo-investing” and “passive investing” trend and popularity that has skyrocketed over the last few years.

M1 Finance offers their users a few personal finance options, but their main bread and butter is investing. When you use them for investing, you have options to invest in stocks, like fractional shares of stocks or Exchange-Traded Fund (ETF).

The other money features they have include loan options to borrow money. They boast no-paperwork, no credit checks, no loan officers, and no denials of applications for a loan. And their interest rates are the lowest on the market.

M1 Finance is offering an FDIC insured checking account that will be directly integrated in their M1 app. This checking account will have direct deposit, ability to easily transfer money, and option to get a debit card.

M1 Finance is a Free Platform

Yes, this is true. A few years ago M1 Finance offered a low fee of 0.25%, but then switched to a free platform. You read that right! There are no trading commissions, no account maintenance fees, and no charges for deposits or withdrawals.

The only potential fees apply to unique transactions. For example, if you open a retirement account at M1 Finance and later decide to close the account, there is a $100 account termination fee (this is standard at brokerage firms). And there are potential fees if you request paper statements or wire transfers, too. You can read about any of there fees which can be found here.

M1 Finance also offers investors a paid tier that they call M1 Plus, which is currently $125 per year. This gives you a bit more options on the accounts you have with M1 Finance. For example, the upgrade offers discount interest on loans borrowed, more investing options, 1% cash back on all debit card purchases, interest on your checking account with them, and a few other small perks as well.

M1 Finance Investing

the robo-advisor does offer other services, their investing feature is by far their strongest product. M1 offers various account types like an individual taxable account, joint account (with relative, spouse, etc.), retirement accounts (traditional IRA, Roth, SEP IRA), and even a Trust account.

a unique with their platform that is not well know is their Pie-based investing interface. The Pie-based investing interface helps you build and manage your investment portfolio much easier. There are more than 6,000 stocks and funds to build Custom Pies or select from nearly 100 Expert Pies, designed to meet different financial goals and investment objectives.

For customization:

• Select investments to add to your “Pie,” these are the slices

• Set the target weight for each slice

• Fund your pie and the money will be added based on your percentages

• You can add, remove, or edit your slices at anytime

Why you should choose M1 Finance

When it comes to investing money, many people would prefer to simplify the process and remove the headaches and constant monitoring of their investments. Most people are not familiar with invest apps, let alone the different investment processes and options. M1 Finance makes this very easy for the begining investor. M1 removes complication, and provides it uses easy click processes that get them started. Link your bank account, have M1 (for example $50 debited monthly) utilize any funds your authorize for investments, and they do the rest...Fire and forget. All you have to do is check on your dividend returns periodically.

Besides being free to use, here are a few reasons people choose MI Finance (and why it might be interesting for you).

• No manual trades, after you build or select your portfolio M1 does the rest

• Simple rebalancing and portfolio management that helps ensure your asset allocation stays on track

• Depositing schedule where you control the amount and frequency of cash flowing into the app

• Fractional share investing, which helps you build wealth down to pennies

• They use a tax-efficient allocation strategy to help reduce your taxes when you sell any securities

• Keep more returns and keep compound interest growing with their no fee platform

• Easy to use platform, visually appealing, and offers news and insights on your investments

Pros of M1 Finance:

• Options to trade fractional shares

• No trading fees or account management fees

• Low minimum investment needed to open an account

• Multiple account types (IRA, Trust, Taxable, etc.)

• Options to invest in various stocks and ETFs

• Automated investing and rebalances of your portfolio choices

Getting started

Getting started and opening an account with M1 Finance is very easy and does not take long to set up.

Remember, a minimum account balance of $100 is necessary to get started on M1. Once that $100 account minimum has been reached, deposits can be any amount above $10.

The minimum is higher for retirement accounts, which require an initial investment of $500.

Starting a free account requires some basic information about yourself. They will then use this information to verify your identity.

Next, you’ll then need to link a bank account. This is the account you want to use for making deposits into your M1 Finance account. And this bank account will also be where money can be transferred back to your bank too.

Once your account has been created, you’re ready to start investing your money and building your “Pie” portfolio.

Give $10, get $10

Use the link below or share a Pie. When you sign up and fund fund M1 account, you and KWF both get $10 cash to invest!

https://bit.ly/3SopxkR_KWF_M1Finance