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More About M1 Finance

M1 Finance is a comprehensive money management and investment platform that was launched in 2015, with its headquarters located in Chicago. It is designed to cater to the needs of investors looking for a unified solution to invest, manage their finances, and access borrowing facilities.

The platform is versatile, offering a range of services including self-directed trading, automated investing strategies, the purchase of fractional shares, margin lending, and various retirement account options such as IRAs.

A significant advantage of M1 Finance is its ability to consolidate multiple financial activities within a single app, making it an attractive option for users seeking to streamline their investment and financial management processes. This feature-rich platform supports investing in stocks, ETFs, and cryptocurrencies, although it’s worth noting that its investment options are limited to these assets, excluding other types of investments like mutual funds or bonds.

However, M1 Finance does have some limitations. It lacks human financial advisor support, which might be a drawback for investors who prefer personalized investment advice.

Additionally, it does not offer tax-loss harvesting, a strategy often used to optimize taxes on investment gains and losses, which could be a downside for tax-conscious investors.

Despite these limitations, M1 Finance is accessible through both iOS and Android devices, enhancing its appeal by offering flexibility and convenience to its users.

Furthermore, the platform issues a debit card that integrates seamlessly with the M1 Finance account, providing users with rewards and cash back on eligible purchases, thereby adding an extra layer of value to its services.

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Investing With M1 Finance

M1 Finance is a hybrid investment app that lets you both trade on your own and invest automatically.

The app lets you choose which stocks, ETFs, or portfolios you want to invest in and how much of your money you want to put into each one by using pie-shaped models. It also has more than 80 portfolios made by professionals.

On its website, M1 Finance says that it uses an in-house trading system to automate each customer’s trading. This could be a great feature for investors who just want to sit back and watch their money grow without having to worry about all the details of investing.

The investment app also says that it puts all trades together and makes them happen during a morning trade window that starts at 9:30 a.m. EST.

Clients who upgrade to M1 Plus accounts can take advantage of an afternoon trade window that lets them invest whenever they want. M1 Finance’s Plus accounts cost $125 per year to upgrade to, but they come with extra benefits like custodial investment accounts, smart transfers, 1.5% loan reductions, and banking perks.

On the self-directed side, the app also lets you buy or sell individual securities or slices of your pie portfolio.

M1 Finance also has features like fractional shares, auto-investing, portfolio rebalancing, and tax minimization.

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Bottom Line

For some clients, M1 Finance will feel like a nice mix of strategies to enhance their investment goals. You will get the best of both worlds if you can make your own portfolio and also use model portfolio pies.

With the M1 Plus option, M1 Finance can automate a lot of your financial life, including your investments, how you handle your cash, and how you spend your money.

>> LEARN MORE ABOUT M1 FINANCE HERE

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