Just found M1 finance

[VanWinkle]

I just ran across this website for M1 Finance. Interesting concept for a "free" investment service. Just wondering if anyone has used the service? Is it really as advertised?

https://www.m1finance.com/investments/expert-pies

 

[OldShooter]

I just ran across this website for M1 Finance. Interesting concept for a "free" investment service. Just wondering if anyone has used the service? Is it really as advertised?

https://www.m1finance.com/investments/expert-pies

The web site is fact-free. The CEO and the VP Ops of M1 have never worked in the investment business before. Both passed their Series7 tests about two years ago, just prior to forming the company. Obviously, the advice from these clowns will be worth approximately the asking price. Or less.

https://brokercheck.finra.org is your friend.

 

[VanWinkle]

The web site is fact-free. The CEO and the VP Ops of M1 have never worked in the investment business before. Both passed their Series7 tests about two years ago, just prior to forming the company. Obviously, the advice from these clowns will be worth approximately the asking price. Or less.

https://brokercheck.finra.org is your friend.

There are some bloggers out there pushing the link to M1. I am DIY but was just interested to hear if anyone tried one of their complicated allocations. They also have very simple allocations. Just curious how they are making money unless they are just hooking clients into AUM after the free service.

 

[pb4uski]

You can use Portfolio Visualizer to see how their AAs have performed in the past. No particular magic.

 

[VanWinkle]

You can use Portfolio Visualizer to see how their AAs have performed in the past. No particular magic.

Yes, I have already done that- complicated does not mean effective when it comes to allocation. Still wondering how they make their money?

 

[wmc1000]

Their single daily buys and sells looks to me like you don't know what price you will pay or receive. May be the end of day price for individual stocks like is done for mutual funds.