M1 Finance is a reputable and rapidly growing online brokerage platform that has been garnering attention for its unique features, user-friendly interface, and efficient wealth-building capabilities. The platform’s outstanding reviews and ratings provide compelling evidence that M1 Finance is well worth considering for both novice and experienced investors.
Company Background
M1 Finance, founded in 2015 by Brian Barnes, is a rapidly growing investment platform that has established itself as a reputable and innovative player in the financial services industry. With its unique combination of self-directed investing, robo-advisory features, and user-friendly interface, M1 Finance has attracted a diverse clientele ranging from first-time investors to experienced financial professionals.
In just a few years, M1 Finance has experienced significant growth, surpassing 6 billion dollars in assets under management (AUM). This milestone demonstrates the platform’s increasing popularity among investors seeking a comprehensive and cost-effective solution for managing their investments.
The company is headquartered in Chicago, Illinois, and operates as a registered broker-dealer under the supervision of the Financial Industry Regulatory Authority (FINRA). Additionally, M1 Finance is a member of the Securities Investor Protection Corporation (SIPC), providing its users with a layer of security and protection for their investments.
M1 Finance’s rapid ascent can be attributed to its innovative approach to investing, offering a seamless blend of automated portfolio management and customizable, self-directed investing options. With features such as fractional shares, automatic rebalancing, and commission-free trading, M1 Finance empowers investors to build, manage, and grow their portfolios with ease and efficiency.
As M1 Finance continues to expand its offerings and reach new milestones, the company remains committed to providing accessible, transparent, and personalized investment solutions that cater to a wide range of investor needs and preferences.
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Customer Reviews
Averaging an impressive 4.7 rating on Apple, with over 52,200 reviews, M1 Finance has managed to outshine many of its competitors. One user praises the platform’s “pie” concept, which they believe is “the most efficient and ingenious idea for investing.” They also laud M1’s “borrow” feature, which has enabled them to make a down payment on a car without withdrawing from their investments.
Another review highlights the accessibility of M1 Finance, calling it an app “for EVERYONE.” The reviewer appreciates how the platform breaks down complex financial concepts into digestible pieces that anyone can understand. They emphasize how M1 Finance has helped them navigate their financial situation during challenging times, such as when their wife was temporarily out of work due to contracting COVID-19. This user credits M1 Finance with providing them with the resources to borrow much-needed cash in a time of crisis.
“M1 finance outperforms every other brokerage/brokerage app by a long shot. I have used/currently use Robinhood, Fidelity, and Acorns. M1 is the clear winner in terms of wealth growth. The “pie” concept is the most efficient and ingenious idea for investing. They have made this simple. Another aspect that sets M1 apart is their “borrow” feature. I am a gold member on their service (I got it at $75 for the first year, normally $125 a year). For me, the borrow feature has provided me the means to make a down payment on my car without withdrawing from my investments. Borrow also allows the user to receive cash without the liquidation of your investment account and it allows my investments to keep growing. My money is starting to compound and the scale they use (total account value) allows the user to have a visualization of the “8th wonder of the world” (compounding). I’m only 21 and the future is bright thanks to tools like M1. This app is beautiful offspring of a capitalistic society and this app will be the reason for many future millionaires. Keep up the great work.”
“This App, is for EVERYONE that wants to learn more about their financial situation and the potential financial situation of our economy. It breaks down everything to an understanding that anyone can comprehend, from a basic checking account to advanced investment strategies to borrowing a little extra cash or a lump sum M1 undoubtedly leaps and bounds above its competitors!…”
Why M1 Finance is Reputable and Worth Considering
M1 Finance has established itself as a trustworthy and reliable platform by offering a unique investing experience tailored to individual needs. Its intuitive “pie” system allows users to create customized, diversified portfolios while the “borrow” feature provides an affordable option for accessing funds without liquidating investments. The platform’s ability to cater to both novice and seasoned investors, as well as its focus on long-term growth, further cements its reputation as a game-changer in the world of online investing.
- No fees: M1 Finance offers commission-free trading and no management fees, which allows users to invest without incurring additional costs. This is especially beneficial for investors who want to minimize their expenses.
- Fractional shares: The platform enables users to buy fractional shares, allowing investors with smaller amounts of capital to create a diversified portfolio without needing to purchase whole shares of expensive stocks.
- Customizable portfolios: M1 Finance allows users to create custom “pies,” which are visual representations of their investment portfolios. Investors can allocate percentages to specific stocks or ETFs, and M1 Finance will automatically maintain the portfolio’s target allocations.
- Automatic rebalancing: The platform automatically rebalances portfolios when deposits or withdrawals are made, or when the allocations deviate significantly from the target percentages. This ensures that portfolios remain aligned with the investor’s goals.
- Robo-advisor features: M1 Finance provides a hybrid approach by offering robo-advisor features such as expert-built portfolios and automatic rebalancing, combined with the flexibility and control of a self-directed brokerage account.
- Security: The company is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). This means that M1 Finance adheres to industry regulations and offers account protection in the event of brokerage failure.
While M1 Finance is a reputable platform with many appealing features, it’s essential to research and consider your specific investment needs, goals, and risk tolerance before choosing any investment platform. Always consult a financial professional if you need personalized advice.
M1 Finance Reviews & Ratings: Final Thoughts
M1 Finance has emerged as a leading online investment platform that caters to a wide range of investor needs and preferences. Its unique features, user-friendly interface, and emphasis on long-term wealth-building make it an attractive option for both novice and experienced investors.
With impressive ratings and numerous positive reviews, M1 Finance has proven to be a reputable platform that prioritizes customer satisfaction and financial success. Its innovative “pie” system, commission-free trading, fractional shares, and hybrid approach combining robo-advisory and self-directed investing capabilities set it apart from competitors in the industry.
Furthermore, M1 Finance’s commitment to security and transparency, demonstrated by its memberships with FINRA and SIPC, provides investors with added peace of mind when managing their investments on the platform.
However, it is crucial to remember that every investor’s needs and goals are unique. While M1 Finance may be an excellent choice for many, it is always recommended to carefully assess your individual circumstances and consult a financial professional if necessary before selecting any investment platform.
Overall, M1 Finance has established itself as a formidable player in the world of online investing and is well worth considering for those seeking a comprehensive, cost-effective, and user-friendly solution for managing their investments.
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