| Website |
https://www.m1finance.com |
https://vanguard.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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- Investor-owned – Like a credit union, Vanguard doesn’t need to make money for investors.
- Largest mutual fund provider in the world.
- Unlimited free trades of Vanguard mutual funds and ETFs.
- Automatic investing down to the penny with mutual funds.
- Industry leader in retirement investing.
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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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- Outdated user interface
- Fees for accounts with balances under $10k
- Fractional shares not offered for ETFs (only mutual funds)
- $25 fee to purchase non-Vanguard mutual funds for accounts with less than $1 million.
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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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- $20/yr fee for accounts with less than $10,000.
- 0.03% - 0.93% expense ratio for mutual funds and ETFs.
- Some funds have a purchase or redemption fee from 0.25% to 1% (I’d recommend avoiding these).
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