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In todays video we share some major changes to m1 finance and how shady they have become
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In recent weeks, users of the popular personal finance app M1 Finance have been expressing concerns over the company’s implementation of what many are calling shady changes to their platform. These changes have left many users feeling frustrated and questioning the company’s motives.
One of the most notable changes has been the introduction of a new fee structure for M1 Plus users. Previously, M1 Plus users paid a flat monthly fee for access to premium features such as increased cashback rewards and lower borrowing rates. However, the company recently announced that they would be introducing a new tiered fee system based on the amount of money a user has invested with M1 Finance. This has left many users feeling like they are being penalized for investing more money with the platform.
In addition to the new fee structure, M1 Finance has also made changes to their referral program that have rubbed some users the wrong way. Previously, users who referred others to the platform would receive a cash bonus for each referral. However, the company recently announced that they would be changing this model to a points-based system where users can earn rewards for referring others but only if those referrals meet certain spending criteria. This change has left many users feeling like the company is trying to limit the amount of rewards they have to pay out to users.
Overall, these changes have raised questions about M1 Finance’s commitment to providing a transparent and user-friendly platform for their customers. Many users feel like the company is prioritizing profits over user satisfaction, which has led to frustration and confusion among the M1 Finance community.
It remains to be seen how these changes will affect the long-term viability of M1 Finance as a platform for personal finance management. In the meantime, users are encouraged to keep a close eye on their accounts and reach out to customer support if they have any concerns about these recent changes.
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It’s not letting me withdraw anything lower than 100$ wtf? What do I do?
I am selling everything that I have in M1 and then I will do an ACH transfer to move my money from M1 to my local bank. There should be $0 fee on ACH and then I will close my account.
Robinhood also does the stock lending it's written on their website "Robinhood Securities earns income from lending stocks purchased on margin to counterparties."
There’s a fee if you transfer out an account. It’s in the fine print. Pretty standard ACAT transfer fee. Most brokerages do this. Not saying I agree on the 3 dollar under 10k thing but all of these “free” brokerages make money on our money. So they must have determined accounts under 10k weren’t generating enough cash flow to justify having them.