M1 Reviews

Summary of a Reddit comment

They began investing at M1 with a three-part pie but left because of limited account types and poor customer service. They now maintain the same allocation by hand at Fidelity instead of paying for baskets.

Summary of a Reddit comment

Fractional shares and low borrow rates were worthwhile advantages, and transferring everything out proved easy, though hefty fees charged on exit were covered by the receiving brokerage.

Summary of a Reddit comment

Automated pie investing is easy, though there is a sign-in glitch and it invests every deposit unless a minimum cash holding is set.

Summary of a Reddit comment

Great set-and-forget brokerage alongside Schwab, though pooling dividends across the whole pie instead of reinvesting directly into the paying stock is annoying.

Summary of a Reddit comment

They currently use M1 Finance and praise the interface and the pie concept, but are frustrated that it only trades in two windows a day. They are considering moving their IRA to Fidelity for baskets.

Summary of a Reddit comment

Most bills are now paid from it, Smart Transfers top up the account within about 15 minutes, and Venmo and PayPal work seamlessly, while debit swipes, ATM, cash and check deposits and Zelle still need other institutions.

Summary of a Reddit comment

They tried to fund their M1 Finance IRA from a Fidelity CMA but linking failed on both ends, and M1 does not accept mobile check deposits into the IRA, leaving them with few funding options.

Summary of a Reddit comment

They used M1 Finance for about ten years before leaving for a pricey Ramsey-referred advisor. After seeing the advisory fees, they say they loved M1 and regret ever leaving it.

Summary of a Reddit comment

Set-and-forget pie chart worked great for years, but a sudden unrequested 2FA lock and a rude support rep who sighed through every question ruined the experience.

Summary of a Reddit post

They keep an M1 account and like that any money they deposit is automatically invested into their positions, while M1 never pulls from the bank unless they decide to fund it.

Summary of a Reddit comment

They like M1 and treat it as a long-term target-allocation tool, happily using the rebalance button and steady deposits so buys average in over time rather than chasing winners.

Summary of a Reddit post

They use M1 alongside Robinhood and love building pies that auto-invest from recurring bank deposits, but dislike the limited trade windows and target-weight buying instead of fixed recurring amounts.

Summary of a Reddit post

They used M1 with percentage-weighted pies but disliked that new money only went to whichever holdings were under target, feeling it favored their weakest stocks and skipped the winners.

Summary of a Reddit comment

Loves the pie investing, finds customer service good and trading easy, though losing the M1 credit card turned cashback investing into a three-step process.

Summary of a Reddit comment

Money pulled from their bank account three months ago still has not reached the investment account, and they report bad customer service.

Summary of a Reddit comment

No problems so far using it as main checking and for the pie-based investment accounts, though they keep a brick-and-mortar checking account as an emergency backup because support is slow when accounts are locked.

Summary of a Reddit post

They were charged both a retirement account closing fee and an outgoing ACAT transfer fee on each of two M1 accounts when leaving for Fidelity, and only later got the fees reimbursed by Fidelity.

Summary of a Reddit comment

They hold a Roth IRA at M1 and enjoy pies for seeing returns of stock and index groups on one screen. They are considering leaving because of the limited trading windows, limited fund selection and the account-closing transfer fee.

Summary of a Reddit post

They keep a large cash windfall in an M1 Finance High Yield Savings Account earning 4% APY, but are unsure that parking it there is the right move and are asking what to do with it instead.

Summary of a Reddit comment

They used M1 for all their investing for years but were driven away by what they call sketchy practices and terrible support, and now use Fidelity for everything without distrust.

Summary of a Reddit post

They hold a Roth IRA at M1 Finance with just two index funds and are looking to move it to Fidelity, citing M1's customer service as horrible as the main reason for leaving.

Summary of a Reddit post

They opened a Roth IRA at M1 by rolling over an old 401(k) and picked a premade model pie, then kept contributing. They are unhappy with the modest first-year performance and note the model pie cannot be edited.

Summary of a Reddit comment

Holds a Roth, main brokerage and a 401k rollover, and moving extra cash in from a credit union account is easy enough not to worry about.

Summary of a Reddit comment

Using it since it launched, automated rebalancing made it easy to teach a daughter about investing, and adding money to the pie directs it to the stocks that are currently down, which they love.

Summary of a Reddit comment

They hold investments at M1 alongside Fidelity and like M1 for its pies. The restriction to a single joint account is why their other accounts live at Fidelity, and they would consolidate there if needed.

Summary of a Reddit post

They keep a chunk of their cash reserve in M1 Earn as part of a stocks, treasury ETF and cash split, and say it pays some interest but not much, so the yield is only modest for them.

Summary of a Reddit post

They hold a small Roth IRA at M1 and only noticed a monthly fee after the fact, and now find that leaving by direct transfer to Vanguard triggers yet another M1 fee.

Summary of a Reddit post

They opened an M1 Finance account in 2019 for the partial-share buying and filled it with individual stocks, but they no longer want to pick stocks and plan to move everything to Vanguard.

Summary of a Reddit comment

Picks their own ETFs for Roth IRA and brokerage accounts, and auto-rebalancing spreads deposits across holdings and rebalances the whole portfolio when a fund is swapped; loved it.

Summary of a Reddit post

They keep part of their money at M1 and like its automatic dynamic rebalancing of new deposits into underweight holdings. They see the limited trade windows as a non-issue for a long-term investor and find the fee structure fine.

Summary of a Reddit post

Each family member gets their own pie of stocks within one portfolio, reviewed and updated weekly, and small regular deposits have left them very impressed with the growth.

Summary of a Reddit comment

They are very happy with M1, praising its automatically balanced allocations, cash accounts, smart transfers, low-interest margin borrowing and a great interface.

Summary of a Reddit comment

They switched from Fidelity to M1 and back again, finding that M1 trade execution prices were consistently worse by a noticeable percentage per trade, which they blamed on payment for order flow.

Summary of a Reddit post

They hold a high yield M1 account as a staging cash balance that automatically feeds their Roth and brokerage investments every week, using it alongside other savings and brokerage accounts.

Summary of a Reddit comment

Pie-based portfolio automation beats Fidelity for hands-off long-term holdings after several years of use.

Summary of a Reddit post

They run three pies at M1 and are frustrated that its buying logic does not put fixed amounts into each fund as they intend, so they are looking to move to Fidelity recurring investments.

Summary of a Reddit post

They held Roth IRA contributions at M1 Finance but found it had trouble with non-cash recharacterizations, so they moved the whole account to Fidelity to be safe.

Summary of a Reddit post

They moved their retirement account from M1 Finance to Fidelity and were charged a large outgoing transfer fee, so they asked whether Fidelity would reimburse it.

Summary of a Reddit comment

Still charged a $3 monthly service fee on a very small account balance.

Summary of a Reddit comment

Delayed and messy tax documents hold up scholarship applications and annual tax filing.