M1 Finance22 reviews
This rating is based on 22 genuine user reviews submitted directly through US-Reviews.
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Find companies you have experience with and write reviews about them! Your reviews contribute to a more transparent market and improve the reliability of companies.Bank connection issues
Man, this place is seriously terrible, I can't deal with it. Trying to connect my bank account was like trying to teach a fish how to ride a bike, just couldn't make it happen. Kept failing and had to call them to switch to a different bank. Such a pain! Nobody should have to deal with all that, buddy. Take my advice, find somewhere else.
Quick Invest Account
I was initially attracted to the quick invest account, but the customer service has been so-so and I'm pretty frustrated and disappointed. I'm fed up with wasting my time and money here. I suggest checking out other options like Meta/Blue*, they really come through with great service and keep their promises.
Investment platform experience
I thought the investment platform's interface wasn't great compared to other options out there. It was a bit hard to use and not as easy to figure out as I was expecting, which made managing my investments tricky. The customer service I got when I tried to do a rollover wasn't the best either. I ran into a lot of obstacles and had to deal with being passed around between different reps a bunch of times. The lack of clear communication and support left me feeling frustrated and caught in the middle of two different banking systems. On top of that, I wasn't happy to find out about all the extra fees with the platform, which made it less attractive and cost-effective for me as a customer.
Initial deposit and confusion over methods
I just put some money in this bank and man, it was so confusing at first. I did eventually get it all sorted out, but it definitely wasn't as easy as I thought it would be.
Investment scam
I was scammed by an online investment platform that promised huge returns but wouldn't let me take my money out. It really bothered me since I thought I was making a wise choice by investing in my future, but it turned out I was fooled into handing over all my money. I really wish I had discovered "CALMOSHUB" earlier because they allow me to withdraw my profits and appear way more reliable than the first company. Seriously, steer clear of investment scams like the one I fell for!
Credit card double charge issue
I was using this finance app and they accidentally charged my credit card twice. When I requested a refund, they said they were going to hold onto the money for a bit. They mentioned issuing a refund, but it's going to take forever and be sent as a check. Who even writes checks in 2021?
Trying to close an account
I've been trying to close my account for 18 days already. It's just taking forever and nobody can tell me why. They're saying I have to give up the bonus money I already received just to get the rest of my money back. That doesn't seem right at all!
Investment platform
My experience with this investment platform has been pretty good so far. It's easy to get around and there's a lot of different investments to choose from. But there are a couple things they could do to make it even better. Like, it would be cool if you could pause or lock auto-invest or selling on specific investments to have more control over your portfolio. And setting end goals for each investment, like reaching a certain number of shares, would be helpful. It would also be nice to see how much money you're making in real-time instead of waiting for statements or updates.
Deceptive high-yield savings account
This company is a total scam. They lied about offering high-yield savings accounts on their site, but when I joined, it turned out to be an investment account. I gave them my bank details through Plaid, assuming I was getting a savings account, but got stuck with an investment account I didn't want. When I tried to fix the issue, they gave me a hard time, wouldn't close the account despite me not depositing any money. They blamed some random regulation as their excuse. Don't trust their tricky ways - steer clear.
Transfer IRA account
I really regret moving my IRA to this place. I can't stand the pie system they use. My regular account did great because I invested during Covid. But my IRA messed up by investing the whole account instead of just $50k. Now I'm down $10k. The user interface is terrible. I'm not a beginner at this!
Automated investing product
The investing tool I've been using has completely transformed how I handle my money. It's super easy to use and has saved me from making mistakes that often come with trying to trade stocks actively or ignoring my investments altogether. The platform is really easy to figure out and great for both seasoned investors and newbies. My only suggestions are to add a mobile deposit option, which would be super useful for people like myself - small business owners and consultants who need to deposit money while on the move. Also, being able to transfer money from different banks would make things even more convenient for users.
M1 Plus perks
I've been using M1 for a while now and so far, my experience with their platform has been pretty good. However, I do think they could step up their game when it comes to the perks offered with M1 Plus. While I do like what M1 has to offer, I feel like they should bump up the spend interest rate for M1 Plus to make it a more attractive option. Also, the $125 fee for M1 Plus seems a little high given the perks currently available. It would be nice if M1 Plus included things like no trade windows, better credit card rewards such as 2% cash back, or more competitive benefits to justify the cost. The main perk of M1 Plus seems to be the borrow rate, but since I don't really use that feature, it doesn't really add much value for me. With other financial institutions offering great rates and perks, I'm starting to think twice about renewing my subscription to M1 Plus unless they lower the price or increase the spend rate.
Invest limited options
I really like the PIE system and having all my spending in one place. But, it can be annoying that there aren't many investment options based on volume. Not being able to invest in mutual funds is a bummer, and only having two times to trade is a pain. Sometimes a stock drops in price during the day and I want to buy it, but by the time I can trade, it's bounced back up. So frustrating to miss out on making money like that.
Traditional IRA rollover to Fidelity
Dealing with them has been a real headache. I've been trying to transfer my traditional IRA funds to Fidelity for over a month now, and it's been a struggle. The whole process has been anything but easy, and they've been making it harder than it needs to be. Their customer service hasn't been much help either, so I've had to keep bugging them for updates. I suggest steering clear to save yourself from this frustration.
Investment Account Fee Change
I had a bad experience with an investment platform that used to be fee-free until they started charging a $3/month "platform fee" unless you have $10,000 in assets. I only joined because it was free. After I closed my account due to the change, they still kept the $3. It's disappointing to see a company value profit over customer loyalty.
Liquidation request fails
I recently tried to close my account on this platform, but ran into a bunch of frustrating technical problems that made it really hard. Even though I followed what the AI on Live Chat told me to do, I kept seeing new buy orders getting scheduled even after I turned off the "Auto-invest" feature. Customer Service admitted they knew about this issue but hadn't fixed it yet. They suggested I manually make sell orders to get around it. When I asked to close my account, they said they couldn't because the system was still making buy orders. It's been super disappointing dealing with all of this, especially since I originally thought the platform was easy to use.
Investment platform review
As someone who has been investing for a while now, I think there are a few ways the investment platform could be better. It would be really good if users could buy any company they want, regardless of how much they trade. It would also be nice if there were more options for investing in OTC and foreign stocks, to make portfolios more diverse. It could help a lot if investors could search for stocks and ETFs by country or region, so they can focus their investments better. Giving users access to financial statements and letting them customize charts, like comparing stock prices to past earnings or P/FCF, would help them make smarter investment choices. And finally, getting rid of trade windows and minimum balance requirements, so people can trade in the morning or afternoon without any restrictions, would make the whole experience better, especially for M1 Plus subscribers.
Investment platform switch
The app and platform design for this investment service is really impressive. They have this cool investment pie feature that looks great and is super easy to use. The way they use metaphors is smart, and the design is clean and simple, which makes managing your investments a breeze. But, even with all that, my customer service experience has been pretty disappointing. I recently closed my regular brokerage account and tried to transfer my funds to this platform, but my account has been on hold for four days now with no explanation or fix. Trying to get help from customer service has been a headache. All I've gotten are those automated messages saying they're looking into it, but no real help. It's a bummer that the service and how quickly they respond don't live up to how great the platform looks and works.
Platform services
Keep it up with features such as yield on cost, comparison charts to the S&P500, dividend safety metrics, and future cash flow charts.
Online Investment Platform
The online investment platform is doing pretty well for me, but there are a few things that I'm a bit worried about. First off, the fees seem kind of high compared to other platforms that let you buy parts of a share with no fees. I think it would be better if the fees were more fair for everybody so they can attract and keep customers. Also, the APR rate for premium customers needs to be more competitive so they can keep up with other platforms that offer better rates. The way the platform looks is cool, but it doesn't give me all the important info I need like how I've been doing this year and a clear way to see my performance with and without money. Overall, while the basics are alright, there are definitely ways they can make improve different parts of the platform.
About M1 Finance
M1 Finance is a financial services company based in Chicago, Illinois, founded in 2015. It offers a unique platform combining elements of traditional investment brokerage services with modern digital banking services. The company provides a free automated investing service where users can create and manage a portfolio of stocks and ETFs. Additionally, M1 Finance offers banking services through M1 Spend, a high-yield checking account, and M1 Borrow, which allows users to borrow against their investment portfolio at low interest rates. The platform's innovative approach to personal finance, emphasizing user customization, automation, and integration of banking and investing services, positions M1 Finance as a comprehensive solution for individual financial management and wealth building.
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Categories M1 Finance
Finance | Saving | Investing | Speculate | Money Transfer
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Letzte aktualisierung: November 2024
Review with most votes
M1 Finance: A Solid Investment
As a user of M1 Finance, I can honestly say that I have been quite happy with the platform. The interface is user-friendly and easy to navigate, which is always a plus. I apprec... Read onBy: Sabina Schowalter