M1 Finance Review

M1 Finance is a money-management app that combines traditional brokerage with a robo-advisor component, providing automated investments based on each user’s set needs while offering the ability to customize your portfolio.

Using a proprietary trading algorithm, the M1 robo-advisor will automatically trade on your behalf based on the criteria you set forth when you first start using the app (your investment goals, risk level, etc.)

You can also buy and sell on your own if you prefer the more DIY approach, or opt for a mix of the two investment styles to see which one performs best for you.

While there are no charges for buying and selling via M1 Finance, there are some supplementary rates to keep in mind which vary between the basic program and M1 Plus.

Setting up your M1 Finance account is a relatively straight-forward process.

The first step is to create your account via the company’s sign-up page. Once you enter your email address and choose a password, you will be sent a link to confirm your email address. Click the verification link in the M1 email you receive; you will then be given the choice to set-up a standard M1 account or to upgrade to M1 Plus, with a free offer for one year.

To continue with the verification process, you will be asked to provide a phone number; enter your number and you will receive a text message with a confirmation code (or you can elect to receive an automated phone call with the confirmation code).

Once you enter the verification code, you will be asked to enter your personal information to start building your account, including your name, mailing address, and social security number. You will also be asked to provide financial information including your salary, your level of investment experience, and your risk level. You will then be asked if you are affiliated or work with a broker, serve as a Public Official, or own 10% or more of a publicly traded company (by law M1 Finance needs to ask these questions, but they shouldn’t apply to most investors).

You will then be presented with the option of funding your account. You will be asked to sign into your online banking which will then link your bank with your new M1 account. The minimum you can transfer as part of a one-time payment is $100.

Once you have your payment info set-up, you can begin selecting your pies! In M1 speak, a “pie” is a collection of stocks and ETFs. You can choose from dozens of curated pies, or build your own. You will also be asked to weigh the importance of each piece of the pie, which will help the algorithm decide what percentage of your total investment you want in each individual stock or ETF.

Once you have your pie/pies set-up, you can click on the Investing tab then select Portfolio to clearly see all of your investments in one hand space and make any changes as you see fit.

Yes, M1 Finance is a safe and trustworthy investment and money managing app. The Better Business Bureau has rated M1 Finance an overall score of A- (on a scale of A+ to F). M1 Finance has been in business for 6 years, which has given it time to grow into one of the most popular investment apps on the market. M1 Finance currently has over 500,00 users, with 4.5 billion in assets. That said, investments always carry risk; while M1 has a very good business reputation, it doesn’t guarantee that you won’t lose money on your investments.

The M1 Finance app is a great tool for beginners and intermediate investors looking for an easy-to-use service that automates your transactions while still allowing you customize your investment plan. M1 Finance provides a robo-advisor to move around your investments according to your pre-determined criteria, and also has the flexibility for you to manage your own investments with a more DIY approach.

M1 Finance also offers a number of additional money management tools including the ability to borrow money directly via the service, tie in your banking account, and even set up an M1 credit card.

Users who sign up for the paid M1 Plus subscription service can unlock additional features including lower borrowing rates, cash-back on purchases, and much more.

Overall, M1 Finance is a well-rounded money management service that removes the steep learning curve and excess charges that deter many from starting down a path towards investing in their future.