M1 Finance is Free

Discuss all general (i.e. non-personal) investing questions and issues, investing news, and theory.
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M1 Finance is Free

Post by michael11 » Wed Dec 13, 2017 11:53 am

https://www.bloomberg.com/news/articles ... es-to-zero

The article says they are an adviser but they let you create your own portfolio with ETFs and stocks.

I currently use M1 to automate my vanguard portfolio both taxable and IRA (30% VOO, 30% VEA, 10% VB, 10% VWO, 10% VCIT, 10% BND). I deposit $100 on Fridays into both.

I still use Robinhood for my trading. Has anybody used M1 Finance for a long time or have an opinion on their system? What other automated investing platforms do you use?

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Re: M1 Finance is Free

Post by William55 » Wed Dec 13, 2017 3:19 pm

I am using Wealthfront, Etrade and M1. M1 certainly gives me the most control as to how I build my portfolio. I like that I can choose my own stocks and ETFs. M1 is great because it give me the IRA, and Individual account offering with the ability to purchase fractional shares. I consider myself to still have a long(er) investment time horizon and M1 lets me more efficiently dollar cost average into my portfolio. Now that it is free it will certainly become my go to choice.

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Re: M1 Finance is Free

Post by overthought » Thu Dec 14, 2017 4:22 pm

Interesting... does it give a way to coordinate a portfolio over multiple accounts? Or do you have to choose a separate portfolio for each account?

Edit: Also might be worth pointing out that you can transfer cash out to your bank for free, but they charge $100 per in-kind ACAT transfer to other brokerages (see fee schedule here).
Last edited by overthought on Thu Dec 14, 2017 5:04 pm, edited 1 time in total.

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Re: M1 Finance is Free

Post by Meg77 » Thu Dec 14, 2017 4:25 pm

“Vanguard will soon offer the first S&P ETF that instead of charging typical asset-under-management fees, will pay customers a nominal amount to subscribe,” Tyler Sosin, Principle at Menlo Ventures, said in an interview.
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