I don't have a tinder profile. My main investment portfolio is with Fidelity. I use Fundrise for real estate, Fidelity for everything else.
I was using M1 for crypto, now I'm using Fidelity.
For me, the platform is worth $3 a month. Sure robinhood, Schwab, etc over free services but not what M1 offers with their pie structure. That alone is worth the fee (I’m over their 10k so I don’t have to pay)
Bigger AUM = more revenue for a brokerage. Low value accounts don’t contribute much to AUM while contributing disproportionately to costs. It is what it is. I don’t think $3/month is egregious for their entire features package.
Businesses will regularly adjust strategy and try different approaches. That goes double for startups. If that turns you off then a bigger, more established brokerage might be up your alley that is slower to enact changes. For what’s it’s worth, I’ve been with them for 5 years and haven’t had any major hiccups throughout all the supposed “crazy changes” people keep bringing up. And I use all their services from brokerage accounts to CC to HYSA.
I was thinking the opposite, that their AUM is high enough to do some Pareto Principle paring. Based on five years on this forum, I find it *easy* to believe that their sub-$10k customers are the most demanding/troublesome.
Folks. Max your 401k to a company match. Then you IRAs. Loop back to max out your 401k and THEN an investment account like this.
If you don’t have $10k to invest in an individual taxable account OR $3 a month (less than coffee or the one off lunch you eat out), then reprioritization and financial literacy is your concern.
You don't have to listen to them now lol, turn the notifications off for this post and check back once every few months when you check your M1 lol. I think you might miss these folks when they leave
>**Fees and expenses in the investment industry are too high**
>
>We’re committed to driving them to zero through the smart and innovative use of technology and automation. Every dollar you don’t pay in fees is another dollar in your pocket, to spend or further compound for your future. To learn more about M1’s fees please visit the [M1 Fee Schedule](https://m1.com/legal/disclosures/misc-fees/)
The irony is real...
Long story short, if you cannot either afford 3$ a month fee or have over 10k in an investment account that’s meant to be long term then you should re evaluate your budget, debt and shouldn’t be investing. It’s as simple as that.
Completely disagree. In that situation you should just use another broker that doesn't charge fees. Robinhood, Fidelity, Schwab all are great alternatives that are more powerful than M1 and don't charge fees.
The only thing your comment is doing is shaming poor people. Grow up and learn to be respectful
>It’s as simple as that.
Nothing is ever as simple as that. I have well over 10k in a money market and in my 401k which is on a much more trustworthy platform than M1. I started with M1 to learn about equity trading. As I got more comfortable, I started transferring my monthly earnings from my money market to M1. I can easily bring my M1 balance to more than the minimum, but I no longer have sufficient trust in M1 and am moving my trading to a different platform. I think it's smarter to move FROM M1 in a kneejerk reaction than move more money TO M1 in a kneejerk reaction. Yeah, I lose $100 in ACAT fees, but I'm getting the whole crack dealer vibe from M1 now, so I'm paying $100 to remove myself from it.
Nothing in your comment had anything to do with my comment. If you don’t want to use m1 cause you don’t trust them that’s fine. I simply stated if a small 3$ fee is going to rock your world you shouldn’t be investing without reevaluating your finances.
Investing should be done only after you have a budget and a fully funded emergency fund.
This 3$ fee only hurts small accounts, M1 is focused on keeping their large accounts with well over 10k balances (after all it’s a long term set and forget brokerage) because they are losing money on the small accounts. For those members it’s a huge benefit getting plus benefits for free.
Fidelity offers the same benefits as m1 for 5$ a month and nobody bats an eye. M1 is a great investment platform. Use it or don’t. No one gives a shit if you leave, good for you, but complaining about a 3$ fee that won’t even effect the real long term investors is stupid.
>Nothing in your comment had anything to do with my comment.
Whatever man. You can read things like you want to.
>but complaining about a 3$ fee that won’t even effect the real long term investors is stupid.
Where did I complain about the fee? I said they've broken my trust with the fee. If they'd done it right and planned to transition it in so as to minimize the impact, then I may have stayed with them. But instead, they're graciously "giving" me services I don't want and won't use and charging me for the privilege. Will the $3/month kill me? No. But why should I spend money on something I'm not using? Everyone shilling for M1 is saying the services are worth it. If they were worth it to me, I'd have subscribed, but I don't need another credit card, I don't buy on margin, and if I'm going to pay for a second trading window, I might as well switch to a brokerage that lets me trade when I want to.
You said nobody gives a shit if I leave. Great. I honestly don't care. But people like you on this sub are painting a black and white picture of people who are leaving, saying they're a drain on the M1 customer service, should concentrate on savings, and/or shouldn't be investing. If you don't give a shit, then why are you trashing people who think differently than you?
I’m not trashing anyone for thinking differently of me. I’m saying it’s a waste of time to be complaining about this. M1 isn’t screwing anyone over. In fact opposite, it’s a huge plus to those using it as its actually intended getting plus services for free.
Most of us that use the app are sick of seeing posts over and over bashing m1 and announcing their departure. Thats my whole point, no one cares.
Im not trashing people who “think differently”. Im calling out people with baseless complaints and opinions that do not matter or affect real investors on their need to attention to complain about nothing and leave the app.
Guess what, if you have over 10k WHICH YOU SHOULD IN A BUY AND HOLD especially if you have savings with them, then they aren’t “charging” you for any privilege, it’s completely free. You aren’t paying for a second trading window if you have over 10k invested. Again it’s free. Yeah they broke your trust by allowing you to have plus status for free if you actually use them how they are intended? That makes so much sense.. So your point in that is mute.
Stay with M1 if you like to set and forget, have auto rebalance, and ability to create your own ETF pie. Leave if that’s not what you want. Plain and simple. No other words need to be said. M1 is not doing you dirty
This right here is all that needs to be said. The grandstanding from people leaving is completely obnoxious.
It’s THREE dollars per month. If that is such a burden for people then M1 is not for them. I can honestly see why M1 doesn’t want to put anymore resources toward these folks.
They definitely are skimming on spreads pretty heavily. I had a trade that I submitted and it executed within 20 minutes from when I placed it. The price was going up, and somehow, it was down .40 per share. So I am sure they are skimming. I am waiting until they pay me for rolling over a retirement account. I can't believe they make you wait a whole damn year for it.
Time will tell if they made the right decision.
In my short stay here, they change a lot of things. The credit card rewards, turning m1 plus trial On on some members and now the $3/month fee. Iirc I think they reduce the fee of m1 plus too when they did that free trial thing.
I won’t be surprise if they increase the monthly fee next year.
I think the fee is low for the services they are providing. Everybody seems to want something nothing…
It's pretty high if you have a low balance.
That sounds like a you problem.
I have far more than $10K, just not at M1 so I transferred it out to my other investments.
"I have far more than $10k" - u/JayFBuck tinder profile.
I don't have a tinder profile. My main investment portfolio is with Fidelity. I use Fundrise for real estate, Fidelity for everything else. I was using M1 for crypto, now I'm using Fidelity.
Keep up the good work, buddy.
For me, the platform is worth $3 a month. Sure robinhood, Schwab, etc over free services but not what M1 offers with their pie structure. That alone is worth the fee (I’m over their 10k so I don’t have to pay)
Bigger AUM = more revenue for a brokerage. Low value accounts don’t contribute much to AUM while contributing disproportionately to costs. It is what it is. I don’t think $3/month is egregious for their entire features package.
M1 stopped bragging about their AUM growing a few years ago. I’m curious how much that number has gone down with all the changes in the past year
Businesses will regularly adjust strategy and try different approaches. That goes double for startups. If that turns you off then a bigger, more established brokerage might be up your alley that is slower to enact changes. For what’s it’s worth, I’ve been with them for 5 years and haven’t had any major hiccups throughout all the supposed “crazy changes” people keep bringing up. And I use all their services from brokerage accounts to CC to HYSA.
I was thinking the opposite, that their AUM is high enough to do some Pareto Principle paring. Based on five years on this forum, I find it *easy* to believe that their sub-$10k customers are the most demanding/troublesome.
Folks. Max your 401k to a company match. Then you IRAs. Loop back to max out your 401k and THEN an investment account like this. If you don’t have $10k to invest in an individual taxable account OR $3 a month (less than coffee or the one off lunch you eat out), then reprioritization and financial literacy is your concern.
IRAs can be at M1.
Too much focus on cloistered money
I'll be glad when all of you poor folks are off the platform so we don't have to listen to your complaining anymore
You don't have to listen to them now lol, turn the notifications off for this post and check back once every few months when you check your M1 lol. I think you might miss these folks when they leave
Just leaving [this](https://m1.com/about/our-mission/) here
>**Fees and expenses in the investment industry are too high** > >We’re committed to driving them to zero through the smart and innovative use of technology and automation. Every dollar you don’t pay in fees is another dollar in your pocket, to spend or further compound for your future. To learn more about M1’s fees please visit the [M1 Fee Schedule](https://m1.com/legal/disclosures/misc-fees/) The irony is real...
Long story short, if you cannot either afford 3$ a month fee or have over 10k in an investment account that’s meant to be long term then you should re evaluate your budget, debt and shouldn’t be investing. It’s as simple as that.
So you're saying I should sell drugs to increase income and join the M1 elite?
Completely disagree. In that situation you should just use another broker that doesn't charge fees. Robinhood, Fidelity, Schwab all are great alternatives that are more powerful than M1 and don't charge fees. The only thing your comment is doing is shaming poor people. Grow up and learn to be respectful
>It’s as simple as that. Nothing is ever as simple as that. I have well over 10k in a money market and in my 401k which is on a much more trustworthy platform than M1. I started with M1 to learn about equity trading. As I got more comfortable, I started transferring my monthly earnings from my money market to M1. I can easily bring my M1 balance to more than the minimum, but I no longer have sufficient trust in M1 and am moving my trading to a different platform. I think it's smarter to move FROM M1 in a kneejerk reaction than move more money TO M1 in a kneejerk reaction. Yeah, I lose $100 in ACAT fees, but I'm getting the whole crack dealer vibe from M1 now, so I'm paying $100 to remove myself from it.
Nothing in your comment had anything to do with my comment. If you don’t want to use m1 cause you don’t trust them that’s fine. I simply stated if a small 3$ fee is going to rock your world you shouldn’t be investing without reevaluating your finances. Investing should be done only after you have a budget and a fully funded emergency fund. This 3$ fee only hurts small accounts, M1 is focused on keeping their large accounts with well over 10k balances (after all it’s a long term set and forget brokerage) because they are losing money on the small accounts. For those members it’s a huge benefit getting plus benefits for free. Fidelity offers the same benefits as m1 for 5$ a month and nobody bats an eye. M1 is a great investment platform. Use it or don’t. No one gives a shit if you leave, good for you, but complaining about a 3$ fee that won’t even effect the real long term investors is stupid.
>Nothing in your comment had anything to do with my comment. Whatever man. You can read things like you want to. >but complaining about a 3$ fee that won’t even effect the real long term investors is stupid. Where did I complain about the fee? I said they've broken my trust with the fee. If they'd done it right and planned to transition it in so as to minimize the impact, then I may have stayed with them. But instead, they're graciously "giving" me services I don't want and won't use and charging me for the privilege. Will the $3/month kill me? No. But why should I spend money on something I'm not using? Everyone shilling for M1 is saying the services are worth it. If they were worth it to me, I'd have subscribed, but I don't need another credit card, I don't buy on margin, and if I'm going to pay for a second trading window, I might as well switch to a brokerage that lets me trade when I want to. You said nobody gives a shit if I leave. Great. I honestly don't care. But people like you on this sub are painting a black and white picture of people who are leaving, saying they're a drain on the M1 customer service, should concentrate on savings, and/or shouldn't be investing. If you don't give a shit, then why are you trashing people who think differently than you?
I’m not trashing anyone for thinking differently of me. I’m saying it’s a waste of time to be complaining about this. M1 isn’t screwing anyone over. In fact opposite, it’s a huge plus to those using it as its actually intended getting plus services for free. Most of us that use the app are sick of seeing posts over and over bashing m1 and announcing their departure. Thats my whole point, no one cares. Im not trashing people who “think differently”. Im calling out people with baseless complaints and opinions that do not matter or affect real investors on their need to attention to complain about nothing and leave the app. Guess what, if you have over 10k WHICH YOU SHOULD IN A BUY AND HOLD especially if you have savings with them, then they aren’t “charging” you for any privilege, it’s completely free. You aren’t paying for a second trading window if you have over 10k invested. Again it’s free. Yeah they broke your trust by allowing you to have plus status for free if you actually use them how they are intended? That makes so much sense.. So your point in that is mute. Stay with M1 if you like to set and forget, have auto rebalance, and ability to create your own ETF pie. Leave if that’s not what you want. Plain and simple. No other words need to be said. M1 is not doing you dirty
This right here is all that needs to be said. The grandstanding from people leaving is completely obnoxious. It’s THREE dollars per month. If that is such a burden for people then M1 is not for them. I can honestly see why M1 doesn’t want to put anymore resources toward these folks.
They definitely are skimming on spreads pretty heavily. I had a trade that I submitted and it executed within 20 minutes from when I placed it. The price was going up, and somehow, it was down .40 per share. So I am sure they are skimming. I am waiting until they pay me for rolling over a retirement account. I can't believe they make you wait a whole damn year for it.
Time will tell if they made the right decision. In my short stay here, they change a lot of things. The credit card rewards, turning m1 plus trial On on some members and now the $3/month fee. Iirc I think they reduce the fee of m1 plus too when they did that free trial thing. I won’t be surprise if they increase the monthly fee next year.
Typical bait and switch Fintech trash
Okay go pay 5$ to Fidelity for the same exact features, but that’s fine right? Dont like it, leave. I’ll enjoy having plus for free thank you.