M1 Finance is an excellent online platform that allows you to invest, borrow, and spend all in one place. What’s even better? Their basic features are free. However, you can upgrade to M1 Finance Plus for exclusive perks and savings. Let’s dive into a quick analysis.
What is M1 Finance?
Founded in 2015, M1 Finance is a financial institution that utilizes a hybrid Robo-advisor platform. This means that you can control and enhance your investment portfolio while monitoring your spending. Also included is a line of credit option through their margin loan lending program. Therefore, you can consider M1 an electronic mega-hub for money management.
Often referred to as M1, M1 Finance is a zero-dollar commission broker great for fee-conscious investors. With low-cost interest rates, no trading fees, no asset management fees, and zero annual checking account fees, you might be thinking that this company is too good to be true.
In other words, is it legit? Absolutely. M1 is FDIC and SIPC backed, so your investments are secured. You can even opt for socially responsible investing through their SRI investment strategies.
In addition to curtailing to all of your financial needs, M1 offers modernized access to information through its super application. Find M1 on your i0S or Android and start managing your accounts through the palm of your hand.
Thousands of members are taking advantage of this do-it-yourself investing technology. The pre-built investment portfolios offer a more straightforward approach, but you will still need to do your own research. You can start by getting an expert opinion with our M1 Finance pros and cons review.
Whether you’re new to investing or a seasoned investor looking for an effortless approach, M1 has it all. Their popular Robo-Advisor feature even allows for hands-off investing; let’s learn more.
M1; Leading Robo-Advisor
As a leading Robo-Advisor, M1 utilizes algorithms and mathematical metrics to build portfolios. The beauty of M1 is that you have the option to create your own portfolio with thousands of stock picks, or you can take advantage of custom-built portfolios. M1 has over 80 portfolios shaped utilizing unique financial strategies.
As a Robo-Advisor, M1 will automatically rebalance your customized portfolio, making managing your portfolio easier. Read more about what stocks you can buy with M1 Finance in our recent blog article.
Once you have over $5,000 investments within your portfolio, you will access the M1 margin lending program M1 Borrow. Read more about this portfolio-backed line of credit in Modest Money’s everything you need to know about M1 borrow review.
Still, one of the most popular aspects of M1 is its investing platform. And as M1 grew to encompass these notable features, so did their app. The assembly of elements led to the necessity of a way to streamline accessible information. Therefore, a sleek, colorful design was born. The free app showcases your investment portfolio in pie form. M1 finance pies construct a distinctive visualization feature that you will not get anywhere else. You can also scan through the app to find information on each aspect of your financial services.
With all of these unique features for free, you might be wondering why M1 Finance Plus is worth it? We’re trying to find the reasons why it is not. So, let’s dive into the upgrade.
Upgrade to M1 Finance Plus
If you love M1 Finance, M1 Plus is a must. It provides users with rewards and perks for using the platform and services you are already using. For just $125 per year, the M1 Plus price point is hard to beat. With this upgrade, you will gain:
- Lower interest rates on margin loans
- M1 Borrow’s basic plan has a 3.5% interest rate. With M1 Plus, this will become 2%.
- Smart transfers
- Manage your spending, investment accounts, and IRAs with automatic budgeting.
- Cash Rewards
- With more ATM reimbursement fees and paper checks, you will gain 1% APY from checking and cashback on your debit card purchases.
- Longer Trading Window
- Access to AM & PM trading windows.
- Custodial Accounts
- Build wealth for your family by creating portfolios in their name.
- A Rewards Credit Card
- Earn up to 10% cashback when you spend on eligible stocks within your portfolio. M1 automation allows you to turn your cashback into investment opportunities.
Depending on your activity level in M1 Finance, M1 Plus can easily pay for itself quickly. This affordable upgrade allows you to increase your returns and make even more money.
M1 Plus; Is it Suitable For You?
If you are already using M1 Finance for your financial goals, M1 Plus will add exclusive perks and rewards to this activity. So, this is a no-brainer opportunity to make your money work for you. If you are new or inactive on M1 Finance, this is an excellent opportunity to gain control of your investments and spending. Reinforce your returns by upgrading to M1 Plus today!