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M1 Finance

in Investment Advisors from M1 Finance

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M1 Finance

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in Investment Advisors from M1 Finance

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Highlights
Highlights
Minimum Account $100
Management Fee 0%

M1 Finance Review

M1 Finance is founded in 2015 and based in Chicago, IL.

What fees does M1 Finance charge?

M1 Finance Fees
Description
Monthly Fee $0
Annual Fee $0
Management Fee 0%
Account Transfer Fee $100
Account Termination Fee $100
Investment Expense Ratios N/A

What management fees does M1 Finance charge?

M1 Finance charges a fixed monthly fee of $0 to $0 .

Many financial advisors charge based on how much money they oversee by using a fee-structure called “assets under management,” or AUM. For instance, a 0.40% fee translates to $4 per year for every $1,000 an investment advisor manages. Management fees, also known as maintenance fees, cover the operating costs of investment advisors and are typically deducted from your account every month or quarter. The management fee does not cover the underlying expense ratios of the investment vehicles purchased by investment advisors.

What are the investment expense ratios of M1 Finance?

Hiring an investment advisor with competitive investment fees is one of the most important steps to maximizing your portfolio's performance. Investment expense ratios can vary drastically depending on the types of accounts and assets involved. A survey by the ICI puts the average expense ratio for actively managed funds at 0.76% and indexed funds at 0.08%. The investment expense ratios of an investment advisor will vary depending on the type of assets they invest in and whether they attach additional charges to fund fees.

M1 Finance does not charge fees based on an investment expense ratio.

What type of investment accounts and asset classes does M1 Finance support?

M1 Finance offers the following types of assets and account types.

Accounts Supported Options
Supported Options Unsupported Options
  • Individual Non-Retirement Accounts
  • Joint Non-Retirement Accounts
  • Roth IRA
  • Traditional IRA
  • Rollover IRA
  • SEP IRA
  • Trusts
  • 529 College Savings Plans
  • Employer Sponsored Plans
  • Custodial Accounts
  • M1 Finance does not offer any of the investment vehicles that we track.

    What is the minimum amount you have to invest to open an account with M1 Finance?

    The minimum amount to open an account with M1 Finance is 100.

    How does M1 Finance compare to other investment advisors?

    Pros & Cons of M1 Finance
    Pros Cons
  • Broad selection of account types.
  • Competitive investment expense ratios.
  • Does not offer low-cost ETFs.
  • Does not give access to human finance advisors.
  • Tax-loss harvesting not available.
  • Limited investment options.
  • SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

    Contact

    • Headquarters
    •   213 West Institute Place
      Suite 301
      Chicago, IL 60610 USA
    •   Visit Site

    About M1 Finance

    Feature Breakdown

    Annual Fee $0
    Monthly Fee $0
    Management Fee 0%
    Account Termination Fee $100
    Account Transfer Fee $100
    Minimum Account $100
    Accounts Supported
    • Individual Non-Retirement Accounts
    • Joint Non-Retirement Accounts
    • Rollover IRA
    • Roth IRA
    • SEP IRA
    • Traditional IRA
    • Trusts
    Automatic Rebalancing  
    Software Managed  

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