M1 Finance Review 2024

M1 Finance offers extensive portfolio customization for sophisticated investors through automated investing using pre-built "Pies." The platform has a wide selection of assets, removed its M1 Plus fee, and introduced a $3 monthly fee for some users. It provides customizable portfolios, margin loans, no trading fees, and cash-back rewards. However, it lacks tax-loss harvesting, financial planning, and external account aggregation. M1 aims to streamline portfolio management for experienced investors. The platform offers various account services, a high-yield cash account, credit card rewards, and digital banking features. M1 differentiates itself through portfolio customization and automated rebalancing. The platform focuses on self-directed investing, lacks financial advisors, and charges no management fees. While M1 Finance is trustworthy and secure, it may not be suitable for beginners seeking guidance or extensive tax optimization. The platform targets users comfortable with managing their portfolios and seeking automation without high costs.