| Website |
https://www.m1finance.com |
https://www.personalcapital.com/ |
| Pros |
- No advisor fee, trading fee, or monthly fee.
- Concept of “Pies” - preset portfolios you can pick with a single click.
- Automatic investing enables rebalancing your portfolio as you make new contributions.
- Borrow against your portfolio with a low-interest loan.
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- Best in class portfolio analysis tool.
- Smart Weighting Asset Allocation weights your investments based on the market cap of different sectors (technology, finance, etc).
- Lower variance by weighting assets based on their sector, portfolios may fluctuate less than with a traditional S&P 500 portfolio.
- A Personal Advisor to talk to. Or 2 if you have at least $200k invested.
- No ETF expense fees since stocks are invested in directly.
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| Cons |
- No tax-loss harvesting
- By adding multiple pies you can easily create an overly complicated portfolio of portfolios that duplicates investments.
- Limited trading time - On a free account, all of your transactions will happen in the morning. With an M1 Plus account, you can also trade in the afternoon.
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- High advisor fees add up over time,
- Due to the complexity of a portfolio holding many stocks, it may be difficult to leave Personal Capital and manage your own portfolio.
- Will underperform the market during times when one sector outperforms for years at a time (ex: technology).
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| Promotions |
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| Fees |
- No management fee - M1 Finance changes no advisor fee.
- $125/yr fee for an M1 Plus Account.
- Additional Fees for various other one-off services like wire transfers, paperwork, or account conversions.
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- Personal Capital charges a progressive advisor fee based on the amount of assets under management.
- For $1 Million and under: 0.89%.
- $1m - $3m: 0.79%.
- $3m-5m: 0.69%.
- $5m-$10m: 0.59%.
- $10m+: 0.49%.
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