M1 Finance Review: Is It The Right Fit For You?

Investing is the thing moving into 2023, but you need the right platform to get started. Here's the pros and cons to M1 Finance.

M1 Finance offers a range of financial services from loans to investments. It's easy to use and commission free. The company makes money through loans and reward cards.

Yes, in general, it's easy to use. Once you've created an account, you can add money and M1 automatically distributes it to your allocated portfolio called the Pie.

Is M1 Finance easy to use?

There's great support available through phone, dynamic rebalancing, tax-efficient withdrawals, and free consultations to start.

What are the benefits?

You'll be limited to stocks and ETF trading with M1 Finance. There's only one trading window a day at 0930 unless you upgrade your membership and you'll be charged to close your account for inactivity or less than $20.

What are the cons?

It really depends. It's a good choice for those who know a little about investing. But it may not be a good option for people who like to move money around.

Is M1 right for me?