M1 Finance is a financial services company that offers a variety of features to help you manage your money, including investing, borrowing, spending, and saving. Here's a breakdown of their services:
Investment Features:
Robo-advising: M1 offers automated investment advice and portfolio management. You can choose from pre-built portfolios or create your own custom pie.
Commission-free trades: Invest in stocks, ETFs, and fractional shares without any commission fees.
Automatic rebalancing: M1 will automatically rebalance your portfolio to maintain your target asset allocation.
Dividend reinvestment: Automatically reinvest your dividends to purchase additional shares and accelerate your growth.
Banking Features:
High-yield checking account: Earn interest on your cash at a competitive rate (currently 5.00% APY with M1 Plus).
Debit card: Spend your money with a debit card that offers cash back rewards on purchases.
Margin loans: Borrow money at low interest rates to invest in your portfolio.
Personal loans: Get a loan for personal expenses with terms ranging from 2 to 7 years.
Additional Features:
Micro-investing: Invest small amounts of money regularly to build your wealth over time.
M1 Plus: A premium membership program that unlocks additional benefits like higher cash back rewards, lower borrowing rates, and access to custodial accounts.
Here are some resources to learn more about M1 Finance:
M1 Finance website: https://m1.com/
M1 Finance Wikipedia page: https://en.wikipedia.org/wiki/M1_Finance
M1 Finance App Store listing: https://apps.apple.com/us/app/m1-investing-banking/id1071915644
M1 Finance Google Play listing: https://play.google.com/store/apps/details?id=com.m1finance.android&hl=en&gl=US
Guidance:
Whether M1 Finance is right for you depends on your investment goals and experience level. Here are some things to consider:
Investment goals: Are you looking for a long-term investment strategy or something more short-term?
Experience level: Are you a new investor or do you have some experience with investing?
Fees: M1 Plus has a monthly fee, so be sure to factor that into your decision.
If you're new to investing, M1's robo-advising features can be a good way to get started. However, if you're an experienced investor, you may prefer more control over your portfolio. It's always a good idea to do your own research before investing in any financial product.