M1 Finance is an absolutely wonderful platform that easily combines automated investment with customizable stock portfolios. That means that you get the best of both worlds! It achieves this by using two great things known as pie investing and automatic rebalancing. You will see just how great it is in this M1 Finance review!
The result of all the amazing things M1 Finance offers is that you have far more investment options as well as more ease of use. Realistically, M1 Finance is the absolute perfect robo-advisor for anyone who is looking to start investing in the stock market. After you have set yourself up, you can easily automate your investment strategy.
You can also pick from one of the portfolios already built by M1’s team of experts. Whether you have a large amount of cash to invest upfront, or you are just beginning to save, this fantastic robo-advisor has something for everyone. M1 Finance is best for:
- Passive investors
- Fee-conscious investors
- DIY investors
- Socially responsible investors
M1 Finance is an investment platform and robo-advisor that combines many features of other investing services. The company is based in Chicago, IL, and it was founded in the year 2015. These days, M1’s assets under management exceed $3 billion.
Brian Barnes, the CEO of the company, created M1 Finance because of the fact that “the financial services industry has lacked any meaningful innovation for far too long, and I decided it was time for change”. Barnes took it upon himself to do exactly that, and he was able to create a unique and innovative product. If you are unsure of how you can buy stocks, M1 Finance is one of the best ways that you can start.
Now, let’s take a look at the pros and cons of M1 Finance and figure out if it is the right platform for you. In the meantime, check out this Betterment review.
The pros and cons of M1 Finance
M1 Finance successfully automates your investments for an easy hands-off experience. On top of that, it also allows you to hand-pick your investments which is something that many robo-advisors simply do not offer. One similarity it does hold that is similar to other robo-advisors is that it directs users to a questionnaire that helps to assess risk.
Other robo-advisor will usually use this questionnaire to simply determine your stock/bond allocation, however, M1 Finance uses it to suggest different portfolios. Those of us who have a lower risk tolerance will have more bonds, but a higher risk tolerance means more stocks and ETFs. While these are only suggestions, you will still be able to create your own custom portfolio from the ground up.
- Invest for free
- No minimum balances
- Automatic portfolio rebalancing
- No monthly or annual fees
- No tax-loss harvesting
- Only supports IRA for retirement accounts
Is M1 Finance the right platform for you?
M1 Finance is an excellent investing platform with very few fees. It is a favourite among many people. It completely simplifies the investing process.Regardless of what your goals are, M1 is a great platform for all kinds of investors. Start investing with M1 Finance for free.