Discover M1 Finance: The Cost-Free Gateway to a Robo Advisor Alternative

Here’s a simpler and more conversational version:

Hey there! I’m here to chat about an awesome investing app called M1 Finance. Have you dreamed of a place where you can invest, borrow money when you need it, and enjoy cashback? M1 Finance does all that and more!

So, what’s M1 Finance all about? It’s an app that lets you start investing without any cost, lets you build your own fund (or “pie” as they call it), and invest any amount of money in fractional shares. It’s an excellent platform if you want a place to invest, spend, and borrow.

The party trick of M1 Finance is the ability to create your own custom pie! You can pick individual stocks and allocate a portion of your money to your own fund, just like an exchange-traded fund (ETF) or mutual fund.

Wondering about the cost? Well, some apps bite into your profits with fat fees, but that’s not the case with M1 Finance. They charge zero fees for opening an account and there’s no minimum balance. The only fees are attached to certain specific features, but the basic usage is absolutely free.

In terms of what you can invest in, M1 Finance is all about stocks and ETFs. And there are these cool things called pies, which are predetermined or customized sets of investments that work according to your financial goals.

One standout feature here is the ability to create your own fund. Imagine picking your favorite stocks and building a custom fund, and incorporating it into your portfolio, even with fractional shares.

With M1 Finance, trades are also commission-free. They offer automatic investing, which means they automatically invest and diversify your portfolios for you.

On the downside, trading windows are fixed and not real-time, so M1 Finance might not work if you’re a day trader looking to take advantage of instant price movements. The platform also doesn’t give you access to more complicated investing tools and instruments. Also, cash withdrawals could take a bit longer than what you’d typically expect.

All said, if you’re a long-term investor who likes to play around with your portfolio and have absolute control over your investments, then M1 Finance could be a great option. It’s especially beneficial if you want to invest in fractional shares, prefer not to pay commission on trades, or find the idea of borrowing against your portfolio appealing. Take a look and see if M1 Finance fits the bill for you!

I hope that helps! Let’s keep the money conversations going.