For our FinTech spotlight segment this month, we are featuring M1 Finance, the Finance Super App. Listen to my conversation with the CMO of M1 Finance, Bob Armour, to see how M1 stacks up against Vanguard for investors.

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CHAPTERS
0:00 Intro
0:52 How is M1 Finance unique from other investing apps?
1:55 What are some of the features that make M1 stand out?
5:20 How does M1 finance help beginners or the younger generation?
6:40 What is auto rebalancing?
9:50 How are index mutual funds different from index ETFs?
11:55 Do you have any tax advantaged accounts?

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M1 Finance vs. Vanguard: Which investing app is best?

With the rise of technology, investing has become easier and more accessible through various investing apps. Two of the most popular options are M1 Finance and Vanguard. Both platforms have their own unique features and benefits, making it difficult for investors to decide which one suits their needs best. In this article, we will compare M1 Finance and Vanguard to help you make an informed decision.

1. Overview:
M1 Finance is a robo-advisor platform known for its customization and flexibility. It allows investors to create a portfolio of stocks and ETFs, called “pies,” with the option to select individual investments or rely on pre-built expert pies. M1 Finance also offers fractional shares, making it easy to invest in high-priced stocks. Additionally, M1 Finance provides dynamic rebalancing, which automatically adjusts your portfolio back to your desired allocation.

On the other hand, Vanguard is one of the oldest and most trusted names in the investing world. It is primarily known for its low-cost index funds and ETFs. Vanguard offers a wide range of investment options, including retirement accounts and taxable brokerage accounts. They also provide access to financial advisors for a fee.

2. Fees and Expense Ratios:
When it comes to fees, both M1 Finance and Vanguard offer competitive pricing. M1 Finance does not charge any trading fees or commissions, and it has no minimum account balance requirement. However, M1 Finance does have an optional premium membership called M1 Plus, which costs $125 per year and provides additional benefits like lower interest rates on loans and cash back on M1 Visa debit card purchases.

Vanguard’s expense ratios for index funds and ETFs are among the lowest in the industry. They pride themselves on their low-cost offerings, which can help maximize investor returns in the long run. However, Vanguard does charge trading fees for buying and selling non-Vanguard funds. They also have a minimum investment requirement for certain funds.

3. Investment Options:
M1 Finance allows investors to create a diversified portfolio using stocks and ETFs. Investors have the freedom to select from a wide range of securities, and they can even choose fractional shares. M1 Finance also offers the option to invest in expert pies curated by financial professionals, which can be suitable for hands-off investors.

On the other hand, Vanguard is well-known for its selection of low-cost index funds and ETFs. They have a wide range of those offerings, covering various asset classes and sectors. Vanguard also offers target-date funds, actively managed funds, bonds, and CDs.

4. User Experience:
Both M1 Finance and Vanguard have user-friendly interfaces, making it easy to navigate and manage your investments. M1 Finance’s platform is intuitive and designed to help investors create and manage their personalized portfolios effortlessly. Vanguard’s platform is straightforward and provides access to a wealth of educational resources and research tools.

5. Customer Service:
Vanguard has a well-established reputation for excellent customer service. They provide support through phone, email, and live chat options. Their team of financial advisors is available to assist with investment strategies and retirement planning, although it is important to note that these services may have additional fees.

M1 Finance also offers customer support through phone and email. However, it does not provide personalized advice or financial planning services.

In conclusion, both M1 Finance and Vanguard have their own strengths and advantages. M1 Finance is ideal for investors seeking customization and flexibility, while Vanguard is well-suited for those looking for low-cost index funds and a reliable, long-standing brand. Ultimately, the best investing app for you depends on your individual needs, investment goals, and preferences.