| Website |
https://www.m1finance.com |
https://public.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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- Follow other investors and see what they’re investing in – including experts.
- Get feedback on your trades by making your trade history public.
- Community members offer recommendations and advice through the main feed.
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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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- Only available through the native app for iOS and Android. There is no website to access your investments from.
- Limited Accounts - Public only offers brokerage (taxable) accounts. Minafi recommends people start investing using a 401(k), IRA or Traditional IRA first before moving on to taxable accounts.
- Encouraging sharing for additional free stock grants. Those who you share with might not have enough investment platform background to understand the tax consequences of trading in a brokerage account.
- Social features and news may be informative but may cause you to make more trades than you might otherwise.
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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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- Public charges no fees for any services.
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