November 28, 2021 Last updated November 23rd, 2021 658 Reads share

M1 Finance Review; How a Hybrid Robo-Advisor Became an Investing Super App

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M1 Finance is your one-stop-shop for all things cash management. As a financial institution providing services as intermediaries to the financial market, M1 finance does it all and does it better. By simplifying the investing process with a hybrid Robo-advisor app, financial experts agree M1 Finance is the super app of the future.

M1 Finance; the Super App

Available on i0S and Android devices, this app allows you to monitor your money, lines of credit, and investment portfolios through the palm of your hand.  Often referred to as M1, this institution integrates checking accounts, brokerage accounts, and lines of credit into one seamless app service.

Unlike most other investing platforms, you can sit back and let your money work for you with automated investing options or go hands-on to create your own highly customizable portfolio. Regardless of what route you choose, M1 Finance will handle your portfolios robotically.

What is a Robo-Advisor?

M1 works as a Robo-Advisor by advising investors about their investment options and helping them meet their financial goals. Increasing efficiency through automation, this financial application generates more advice through algorithms than a live consultant.

Becoming increasingly popular with young investors, Robo-Advisor apps have more than $750 billion in assets under their management. Robo-Advisor services are excellent for those inexperienced or new to investing.

M1; A Modest Investment Opportunity

M1 offers two account tiers, basic and plus options. M1 basic has no account charges, no annual fees, and only daytime investment opportunities.  With a minimum investment amount of $100, you can start investing with M1 with little to no funds.

How to Start Investing With Little Income

With M1, you can start investing with a small amount of money. It doesn’t take thousands to begin your path to financial freedom. Most people are unable to drop thousands into an investment portfolio.

If you are one of those people, M1 is here for you. Learn how to start investing small amounts of money today. Even your spare change can quickly grow thanks to compound investing. It’s never too early or too late to begin planning for your future.

Invest in Your Future With M1

Along with brokerage accounts, M1 offers retirement, trust, and custodial accounts. When you open an individual account, you will be given the option to unlock your choice of an individual retirement account (IRA).

The options are:

  • Traditional IRA
  • Roth IRA
  • Simplified Employee Pension (SEP) IRA

Not sure which option to choose or think you might not need to worry about your retirement? Not surprising, but you still need to generate income when you stop working. Investing in your retirement in your 20s will open the door to financial freedom.

Trust accounts allow you to create financial security for family members. Be able to set money back for college and entrepreneurial efforts in the future.

Custodian accounts work the same way as a trust, except the contributions are considered a gift, not an inheritance. You initially manage an account in a minor’s name until the minor reaches the age of majority. This option is only available for M1 plus users.

M1 Plus; is it worth it?

The higher tier available through M1 is the M1 plus account. This tier allows you to trade during afternoon hours while offering lower-margin borrowing rater, free ATM withdrawals, and numerous added benefits. For $125 a year, you will receive 1% cashback on debit purchases and 1% checking APY.

When utilizing the checking account and loan services, M1 plus will save you money in the long run. Hands-on investors will also enjoy being able to trade whenever they want.

So, is the upgrade worth it? A financial expert weighs in with a review and the potential value of M1 Plus. By continually adding new premium features, this valuable tool has an exciting future.

Educating Yourself is Still a Requirement when Using M1

Educate yourself on the investment process. Take time to choose the accounts that are right for you. This article on 6 tips to avoid the most common investing pitfalls is an excellent resource to taking control of your investment opportunities.

Build Wealth with M1 Finance

Learn everything you need to know about borrowing through a wealth-building super app.  An easily understandable pie chart outlines your investments, financial services, and credit lines. This cash management strategy offers low-risk investments and complimentary benefits that will give you the tools to become a financial expert in no time. Start your investment journey by joining M1 Finance today.

Dmitry Kozlov

Dmitry Kozlov

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