I’ve used M1 Finance now for 2 years and it’s finally time to do a full review! It’s a service I’ve recommended for years now, but have never made a comprehensive overview of both the good and bad things about it. I can confidently say that I use every service that is offered by M1 Finance as of this year too!

I started using M1 as another taxable brokerage account for investments over and above our tax advantaged retirement accounts. Then I opened an IRA for my wife with M1. Next I started another taxable brokerage account to use for my experiment throwing darts at a dartboard to pick stocks. (video link here for that one! Dartboard stock picking: Update after 3 months! Just recently I opened a 4th account to start my SEP IRA. Towards the end of this video I explain what an SEP IRA is and why it’s awesome. All of these accounts were very easy to start with M1.

There are a few things about the app and their service in general that I don’t like. Check those out in the second half of this video. To assess a lot of different things in my life from finances to cars to bagels, I use spreadsheets. It’s a really fun way to keep a record of how good or bad something was and is something that is easily shareable too. I realized in making this video that we need a format for rating investing apps/services! So I made one! At the end of this video I go through the new rating system, it’s categories, and give an inaugural score to M1 Finance. Stick around for future reviews and ratings of other investing services/apps to see how they compare!

M1 finance links:

My SEP Pie of Victory: (The exact things I am investing in right now in my SEP IRA)

📈M1 Finance Investing: (Get $30 when you start investing today! To get it, invest at least $100 in an individual account or at least $500 in a retirement account)
m1finance.8bxp97.net/2rjBLD

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📗My Investing Masterclass For Beginners Course! Step by Step from beginner to stock market success!

My Free Newsletter

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The Investing Apps I Recommend:
🐿Start investing with Acorns today! Best app for beginners! Get $5 when you use my invite link:

📊Get 2 free stocks with WeBull after you deposit $100! (The best app for getting free stocks. Yes, actually free!)

Or don’t. No pressure!

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🎥 Investing Videos:
🐿Acorns 1-Year Review! [And My Actual Returns!]
🎥Best Investing Apps for Beginners in 2021:
❓What EXACTLY Happens to Your Money When You Invest:

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💰The Savings Accounts I Recommend:
💰Yotta Savings: The savings account that feels more like a lottery! Use my link and we will both get 100 tickets! Just sign up with code BRENDAN4 or tap this link:
💰Prize Pool: The newest “gamified” saving app, similar to Yotta. Sign up and get a 10% bonus on top of all your prizes forever! Use code MQD33 or this link:
(These are affiliate links that may provide a small commission or bonus if you sign up using them. This is of course at no cost to you! I use both of these services.)

#investing #M1Finance
Disclaimer: Any financial or investing-related topics discussed on this channel are not from a professional investment advisor and are not financial advice for you. This is for entertainment purposes only.

⏱Handy Timeline:
0:00 Intro
0:23 The Good 1- Design
0:56 The Good 2- Ease
2:07 The Good 3- Fees and Commissions
3:01 The Good 4- Pie vs Cake
4:40 The Good 5- $ Weighted
5:55 The Good 6- Spend
6:23 The Good 7- Easy opening
7:30 The Good 8- Borrow
8:17 The Good 9- M1+
9:44 Not Good 1- Identity issues
10:46 Not Good 2- Digital wallet
11:27 Not Very Useful 1- Send check
11:48 Not Good 3- Initial acclimation
12:35 Mildly Annoying- Trade windows
13:44 Investing App Score
15:20 Conclusion

Contact me here for business purposes: Brendanbizinquiries@gmail.com

WHO AM I?
I’m Brendan, a Dad, trail runner, personal finance nerd, and lover of spreadsheets. I make videos about the basics of personal finance….(read more)

LEARN MORE ABOUT: IRA Accounts

CONVERTING IRA TO GOLD: Gold IRA Account

CONVERTING IRA TO SILVER: Silver IRA Account

REVEALED: Best Gold Backed IRA

M1 Finance 2-Year Review (The Good, The Bad, and The Rating)

In today’s technologically advanced world, investment platforms have become more user-friendly and accessible. One such platform that has gained significant popularity over the past few years is M1 Finance. As the name suggests, M1 Finance aims to provide users with a one-stop solution for all their financial needs. With its unique combination of automated investing and customizable portfolios, M1 Finance has become a go-to choice for both experienced investors and beginners. In this article, we will take a closer look at M1 Finance, providing an unbiased review of its performance over the past two years.

The Good:

1. Automated Investing: One of the most attractive features of M1 Finance is its automation capabilities. Users can create a personalized portfolio based on their investment objectives, risk tolerance, and time horizon. M1 Finance then takes care of the rest, automatically rebalancing the investments to maintain the desired asset allocation. This hands-off approach to investing simplifies the process, allowing users to focus on other aspects of their financial lives.

2. Fractional Shares: M1 Finance offers the ability to invest in fractional shares, meaning you can own a fraction of a share of a particular stock or ETF. This feature allows investors to diversify their portfolios, even with limited funds. By allowing fractional shares, M1 Finance removes barriers that may have prevented certain individuals from investing in the past.

3. No commissions or management fees: Unlike traditional brokers or financial advisors, M1 Finance does not charge any commissions or management fees. This is a significant advantage as it allows users to save on costs associated with investing. Whether you are an active trader or a long-term investor, not having to worry about fees eating into your returns is a big plus.

4. User-friendly Interface: M1 Finance offers a clean and intuitive interface that is easy to navigate for users of all experience levels. The platform provides a range of useful tools and resources to help users make well-informed investment decisions. From a simple and hassle-free account setup to comprehensive investment research, M1 Finance offers a seamless user experience.

The Bad:

1. Limited Investment Options: While M1 Finance offers a wide variety of stocks and ETFs, some investors might find the selection limited compared to other platforms. If you are looking for a specific mutual fund or alternative investment options, you may need to look elsewhere. However, for the majority of investors, the available options should be sufficient to build a diversified portfolio.

2. No access to individual bonds: Another drawback of M1 Finance is the lack of access to individual bonds. The platform primarily focuses on stocks and ETFs, which means that if you are interested in bond investing, you will need to use a different platform. However, M1 Finance does offer bond ETFs, which can still provide exposure to the fixed income market.

3. Limited Customer Support: Some users have reported difficulties in reaching M1 Finance’s customer support. While the platform offers an extensive FAQ section and resources, it is essential to note that live customer support may not always be readily available. This could be frustrating for users who require immediate assistance with their accounts or have urgent questions.

The Rating:

Considering the numerous positives and a few drawbacks, M1 Finance deserves a solid rating. With its automated investing capabilities, fractional shares, and fee-free structure, M1 Finance offers a unique and user-friendly platform for investors. However, limited investment options and customer support do present minor challenges. Overall, M1 Finance provides a solid solution for investors looking for a hassle-free and cost-effective way to manage their investments.

In conclusion, M1 Finance has proven to be a reliable investment platform over the past two years. Its innovative features and user-friendly interface make it an attractive choice for investors of all levels. While there are some areas for improvement, the overall performance and benefits offered by M1 Finance make it worthy of consideration for those looking to manage their finances efficiently.