![]() ![]() ![]() You are still able to create your own custom portfolio from the ground up. Those with lower risk tolerance will have more bonds higher risk tolerance means more stocks and exchange-traded funds (ETFs). Once you get set up, portfolio management is easy. Other robo-advisors may use this questionnaire simply to determine your stock/bond asset allocation, but M1 uses it to suggest different portfolios. What is similar to other robo-advisors is that it directs users to a questionnaire that helps assess risk. Plus, there’s no account management fee to worry about. But it also allows you to hand-pick your investments-something most other robo-advisors don’t offer. M1 Finance gives you automated investment management for a hands-off experience. If you aren’t sure how to buy stocks, M1 is a great way to start. The company’s CEO, Brian Barnes, created M1 because “The financial services industry has lacked any meaningful innovation for far too long, and I decided it was time for change.”īarnes then did exactly that: he created a unique, innovative product. Today, M1’s assets under management exceed $5 billion. Its parent organization is M1 Holdings Inc. The company is based in Chicago, IL, and was founded in 2015. M1 Finance is a robo-advisor and investment platform that combines features of various other investing services. Human advisors and financial planning are not offered.Phone and email support during business hours.High APY and cash back only for M1 Plus subscribers.Cash management account with debit card offered to all M1 users.No tax-loss harvesting but has tax minimization.IRA, SEP IRA, Brokerage, Trust Accounts, Custodial Accounts, Checking.$20 inactivity fee for investment accounts with up to $20 & no activity for 90 days.Expense ratios for ETFs range between 0.06% and 0.20%.
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