M1 Finance Honest Review 💵 Best Investing App

If you want my honest M1 Finance Review then prepare yourself because that's what you're about to get. Is M1 Finance really the best investing app? Is it the best online investing platform out there for your Roth IRA of Taxable Investment account?
The M1 Finance app is a lot more powerful than I originally thought.
In this video, I'm going to give you a break down of what M1 Finance is, the features they offer, lay out the pros and cons of investing with M1, and give you my final thoughts about how I plan on using this investing app going forward.
M1 Finance has made it insanely easy to start investing your money to help you start building wealth for retirement or even if you're interested in general investing.
This is the perfect investing platform for beginning investors and even experienced investors.
Will I be moving all of my Roth IRA contributions to M1 Finance? Watch this video to find out.
Check Out My Recommendations (It helps support the channel):
🔥 M1 FINANCE Investing- Free $10 (once you deposit at least $100 within 30 days) bit.ly/427KBBn
📚 Here's a video on how to use M1 Finance • M1 Finance Investing T...
📝 NewRetirement - The retirement planning tool I personally use to make sure I'm on track with saving for retirement. It's perfect for "Do it yourself" investors bit.ly/3EAAhrJ
🔒 AURA - 14 day free trial to see if your personal information has been leaked online and have it removed aura.com/jarrad
📝 Empower - Free Net Worth Tracker bit.ly/3NUNtwq
📧 Business Inquiries: [e-mail]
YOU'LL FIND THESE PLAYLISTS HELPFUL:
🏆 Financial Independence Retire Early Playlist: bit.ly/2PO7RCa
💸 Side Hustle Playlist To Help You Make More Money: bit.ly/32cu3J1
💵 All Things Investing Playlist: bit.ly/2NExPFT
📈 M1 Finance Playlist: bit.ly/2NBLeOU
📕 Learn How To Budget Playlist: bit.ly/2ps5LgT
📲 Follow me on Instagram…. bit.ly/2vazxXf
Affiliate Disclaimer: Some of the above may affiliate links. Support the channel by signing up or purchasing through those links at no additional cost to you. I appreciate you for helping me keep this channel running
Disclaimer: This video is for entertainment purposes only. Everyone's situation is different so do your own research before making any decisions with your money. If you need help then contact a Certified Financial Fiduciary before trying anything that is mentioned in this video. I prefer a Fiduciary financial advisor that charges an hourly fee as opposed to an ongoing fee based on a % of your portfolio. Always remember that incentives determine the type of advice they give you so one that charges an hourly fee is less likely to be problematic.
#M1FinanceReview #RothIRA #Investing

[@ericahamilton2805]

Hi Jarrad, This is great content. Everything was broken down and easy to understand. Your channel is awesome 👍🏼👍🏼

[@JarradMorrow]

Thanks, Erica! 😃👍🏻

[@sha_la007]

I'm binge watching your videos. Your channel is going to grow. Great review!!!

[@JarradMorrow]

Thanks! I’m glad you’ve enjoyed them.

[@JonSchoeller]

1. I swear I thought I was already subscribed. 2. Great video and very informative!

[@JarradMorrow]

Thanks! You weren’t subscribed already?!? Oh my gosh I’m so offended 😂

[@TruFinancials]

I love M1 Finance! Great breakdown on how it all works!! I go with VOO :)

[@JarradMorrow]

Thanks! VOO is my second favorite!

[@BanksBandz]

I am a long term investor! I will be using you link to sign up today..

[@JarradMorrow]

Then you’ll like M1 Finance as much as I do if you’re in it for the long haul. I just released a video yesterday showing exactly how I invest in my IRA with M1 if that helps. Thanks in advance for using the link. I really do appreciate that 👊🏻

[@quincysutton9136]

Great video. I’m new to the channel & investing in general & you quickly moved up my list shoutout to wang gang & mr Huo All 3 of you are teaching me so much!

[@JarradMorrow]

I appreciate that. Don't hesitate to reach out if you have questions with anything.

[@thaihm]

I like the concept that you can buy fractions of the share. Thanks for sharing, I’ll take a look.

[@JarradMorrow]

It’s one of my favorite features of M1

[@valerieewing4023]

Might have to check out this platform. I'm looking at SOFI right now on top of my Roth IRA through my employer. Gotta make sure that retirement is golden!

[@JarradMorrow]

M1 Finance is great. Roth IRAs are self directed so they aren’t offered through your employer. 401ks are offered through employers.

[@valerieewing4023]

@@JarradMorrow I was so tired when I wrote that. Thanks for pointing that out though!

[@kankerdoodleb9149]

Excellent content...I see M1 finance in my future...

[@JarradMorrow]

It is pretty great! I’ll make more videos in the future walking you through the process so it’s a little bit easier.

[@genuinelysarcastic]

This sounds like heaven on Earth! I hope something like this comes to Canada soon!

[@JarradMorrow]

Haha yes, M1 Finance is like a birthday gift. You guys don’t have any decent investing platforms in Canada?

[@TheHBClan]

Sharebuilder from Capital One use to do this but now, they have shifted to ETrade and ETrade does not offer fractional shares. So, I'm in and I will sign up with M1 Finance. Thanks Jarrad!

[@JarradMorrow]

Nice! The fractional shares are great.

[@PenniesNotPerfection]

Great review! I've heard good things about M1.

[@JarradMorrow]

Thanks, I appreciate it! Are you using any investing platforms right now that you like?

[@PenniesNotPerfection]

@@JarradMorrow Not currently! But I'll probably be using Robinhood in the future.

[@JarradMorrow]

Nice! It’s good platform for trading individual stocks.

[@ceestreet9145]

Very informative, thank you. I will be looking into the Expert Pies. I had already had an account when I discovered your video.

[@JarradMorrow]

Absolutely! The expert pies are a good way to help guide you if you need it.

[@JarradMorrow]

💰 M1 FINANCE - Invest In Fractional Shares For Free (where I invest my Roth IRA) bit.ly/M1FinanceJM1 ---------- 🏠 FUNDRISE - Invest In Real Estate the easy way for as little as $500! (I have money invested here) bit.ly/FundriseJM ---------- 💎 WEBULL - Free Stock Investing Platform (Get 2 FREE stocks valued up to $1,400 when you deposit $100) bit.ly/WeBullJM ---------- 📈 BLOOOM - FREE 401k and IRA Fee Analyzer. Are your 401k fees too high? bit.ly/BloomJM ---------- 💵 ROBINHOOD - Free Investing Platform (Get 1 FREE stock worth up to $200 when you open an account and fund it) bit.ly/RobinhoodJM 2:46 What is M1 Finance 3:22 Different Investment Options 4:15 Cost To Invest With M1 Finance 5:04 Fractional Shares 7:18 Dividend Reinvesting 7:37 Custom Pie Investing 8:59 Dynamic Rebalancing 10:42 Expert Pies 11:18 M1 Finance Pros 13:55 M1 Finance Cons 16:14 Minimum investment Amounts 16:44 Final Thoughts on M1 Finance

[@QuesttoFIRE]

Excellent video Jarrad!!!! Except you’re making me want pizza 🤣 Come on man, I’m trying to cut my carbs!🤣😂

[@JarradMorrow]

Thanks! Haha I made myself want pizza as well! I’m on a low carb diet so the key to eating pizza is going with a thin crust!

[@RyanBlockb5]

Thumbs up for the doggie and your enthusiasm.

[@JarradMorrow]

Thanks Ryan! 😃

[@christfollower122491]

Yes thank you this is perfect

[@JarradMorrow]

No problem. Are you currently investing anywhere?

[@christfollower122491]

Jarrad Morrow no I am not currently I just got out of debt 2 months ago and I am really focusing on building my emergency fund. Once I have this in place. I’m going to really try to focus in on investing. With this video I think my new corse or action will be to fully fund my Roth IRA. Then learn of other ways I can invest and build wealth. I’m staying tuned in your videos to learn as much as possible. Im too much of newbie in the world of investments but I’m eager to learn.

[@JarradMorrow]

I'll have a video coming out within the next two weeks where I break down how to start investing in a Roth IRA. It's a deeper dive that will definitely help educate you more on it. Stay tuned!

[@ljrockstar69]

Thanks for the video, I set up my account today. I think it's a good platform, but there are things they can improve on. One thing is you can't change the account type once you've establish it. I opened a Roth account, but I want it changed to a general investing account, there's no way of changing it, unless you create a new account, which I don't want to. Any ideas to change the account type, there's no money deposited in the account yet.

[@JarradMorrow]

Not being able to change the account from a Roth IRA to a taxable account is going to be the case no matter which investing platform you use. They're all going to make you create a brand new account. If you haven't deposited money into the account yet then what's the problem with just opening a new M1 account? It's an extremely easy process.

[@ljrockstar69]

@@JarradMorrow I think I maxed out on the number of accounts. It won't let me add a new one.

[@JarradMorrow]

How is that possible? How many did you open up?!?!? I have 5 open with them right now.

[@ljrockstar69]

@@JarradMorrow I think five is the limit.

[@mswank5445]

Wahoooo!!

[@JarradMorrow]

Haha yes!

[@CrankyGrinch]

Looking to passively invest. Would like to have a separate pot of money for house upgrades, emergency funds, etc. what would be the best lineup of investment products on M1 or Fidelity that can accomplish this goal? My style is passive and somewhat conservative but willing to be a little aggressive.

[@JarradMorrow]

Good question. If you need the money within a 5 year period I wouldn't invest that money because it's a little too risky. I have my short term money for things like house upgrades, my emergency fund, etc. in a high interest savings account.

[@CrankyGrinch]

Jarrad Morrow thanks...even if I want to passively invest do you have any suggestions for best lineups? There’s just so many options out there and it gets overwhelming

[@JarradMorrow]

I know, it's extremely overwhelming for people who aren't money nerds like myself. I've made quite a few videos that might help. Here is one where I break down my favorite Vanguard funds: kzbin.info/www/bejne/fGLJlZSlhamiaZI Here is another one to show you exactly how I invest in my Roth IRA (I'm a passive investor): kzbin.info/www/bejne/oGLNnKCJbr-LeLM Here is another one where I break down everything you need to think about when investing in an IRA: kzbin.info/www/bejne/hpbcYalom7x7lbM If you have more questions then feel free to ask.

[@herplace9827]

Just wish I understood more on the whole percentage/ratio thing and what to invest in

[@JarradMorrow]

I can't tell you what to invest in, but it's widely agreed upon that low-cost index funds are a great for long term investing in a retirement account. My personal favorites (once again, not investing advice) is VTI or VOO. You can just google those ticker symbols. They both have .04% expense ratios and basically invest in the stock market as a whole. VTI holds over 3500 different stocks and VOO holds a little over 500.

[@herplace9827]

Jarrad Morrow thank you

[@JarradMorrow]

No problem. Let me know if you have any more questions.

[@jamienance8918]

Was there a charge to dynamic rebalancing?

[@JarradMorrow]

A charge or a change? There’s no extra charge for dynamic rebalancing and I haven’t seen a change to it either.

[@jamienance8918]

Jarrad Morrow okay cool, yeah I was wondering if there was a charge. Like a maintenance charge or something like that

[@JarradMorrow]

Na, not for investing through them. You should be good to go.

[@ocilassolrac14]

Here is my review: PROS 1. M1 is a simple platform that makes it affordable to invest in stocks with the fractional shares feature. Otherwise investing in stocks is too expensive for many people including myself. 2. M1 stands out from other options with a low initial investment of $100, fractional shares, and auto rebalance of the portfolio (pie). You deposit a quantity of money and the rest is done automatically. That deposit is distributed accordingly into the pie or portfolio shares. CONS 1. M1 lacks customer support, its none existent. Good and fast customer service is key to everyone investing their hard earned money. 2. M1 lacks information. You have to look elsewhere to find good info. I have to use Yahoo Finance, Morningstar, Schwab, Fidelity, ETF.com and other sites to use M1 as an investing platform. 3. Expert pies specifically the ones called Plan for Retirement and General Investing, their return and performance is subpar compared to Schwab or Fidelity robo-advisor portfolios. 4. Hedge Fund Followers pies aren't bad but can be more diversified to include more hedge funds. 5. In general Expert Pies lack diversity in each theme. 6. For novice investors (like myself) to invest with M1 you have to have a good set of balls. What I mean is you have to be very sure of what you are investing in to be certain its the right choice because there is no guidance or support from anyone. Compared to other investing platforms M1 is really lagging in this area. 7. There is no market information, just the basic 3 major indexes to follow and some headlines. 8. These headlines when you click with your mouse over them, many of them request for you to have a subscription to that News outlet to read the complete article. Seeking alpha is one of them. 9. $125/year subscription to use Spend and M1Plus is a lot of money for just a few trivial perks. I am currently using Spend and M1 plus with a free subscription, other wise I would not bother to invest $125/year. 10. Trading times are only once per day, or twice depending if you have M1 Plus. I am sure this is to keep costs down. I could care less at what time M1 trades. 11. Haven't use M1 Borrow because you have to be invested with $10,000 or more to use it. Investing $10,000 or more with M1 can be risky specially in a platform where there is no investing guidance or customer support. 12. One of the worst parts of M1: when transferring money from Invest to Spend or vice versa (they call that Smart Transfers), it takes forever, like 4 days to move your money from one account to another. I would call that Slow Transfers. 13. And the cherry on top: Requesting an account liquidation and moving that money to your external bank account could take like a week or maybe more. Why is that? 14. There are no articles about investing guidance. and no investment blog to follow. 15. The few info available for many stocks and ETFs its not correct. Specifically P/E and yield. That's worrisome because it misguides clients to believe what its not true and to make the wrong investment decisions.The SEC should look into this item specifically. When you compare so few trivial advantages versus so many critical disadvantages you start thinking do I want to continue investing with M1? Myself? I will terminate my account in the following days.

[@JarradMorrow]

Thanks for sharing your thoughts.

[@melodiev9253]

I am hating M1 Finance’s customer service. I have been trying to set up an account since last Tuesday. I have a freeze on my credit therefore they needed a copy of my license and utility bill. I sent this information on Tuesday and was told it would take 24-48 hours. Still waiting. Longest 24-48 hours ever. If it doesn’t happen soon I am just going to cancel it. Not impressed so far. I have also sent an email on Friday and Tuesday asking if there is a problem and they have not responded.

[@JarradMorrow]

Thanks for the feedback. I'm curious as to why they would need a copy of your license and utility bill. I never had to provide a copy of my license, a bill, or anything like that when I opened an account. All I did was enter some basic info, just like every other investment account, and I was done. It only took me about 10 minutes tops. You may have a special situation where they needed that info for you. Good luck with the rest of the process!

[@geomatiq]

what if this M1 goes Bankrupt is my money insured.

[@JarradMorrow]

Great question. When we’re talking about the investing side of things, M1 isn’t a bank so they’re not holding your money for you. They’re basically the middle man that handles the invest transactions for you. Once your money is invested in the market it’s out of their hands.

[@dahnyce6221]

SIPC Insured. If M1 goes out of business, your securities are protected up to $500,000 per account. SIPC does NOT protect you from losing money through investing. M1's clearing firm has supplemental insurance to over beyond the SIPC limits.

[@cmartin3583]

Can you invest 6000 in each company?

[@JarradMorrow]

Yes, you'd just have to split the % to reflect that.

[@cmartin3583]

@@JarradMorrow Explain pls.

[@KenJamesJr]

Beware: M1 Financing is Shit! Yes, it’s pretty and gift wrapped; but they don’t execute bids when the market opens. They hang your azz out to dry until the market rebounds and then execute and you end up with stocks you could have got for half the price you end up paying.

[@JarradMorrow]

I mentioned that as a con in this video...but that's only an issue if you're investing in the short term. If you're a buy and hold investor for the long term then this con is basically irrelevant though. They execute their trades 1 hour after the stock market opens. That would be nuts if you invested in a stock that lost half its value so quickly- I'd love to hear which stock you were trying to buy that lost half it's value within the first hour of trading. Let me know because I want to check this out.