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Betterment vs M1 Finance
Betterment is a great robo-advisor for beginners with low fees, good tools, and tax strategies. How does it compare to M1 Finance? Read our comparison chart below.
Betterment offers automatic investing starting at $4/month for accounts with less than $20,000. There is no fee to open an account and no minimum deposit required. All balances get automatic rebalancing, tax loss harvesting, and access to financial experts.
While M1 Finance offers automated investing with no commissions or trading fees. M1 lets you select your own investments and their automation will manage it for you. This is great for investors who want a say. The downside is that there are no human advisors. The minimum to start is just $100.
Compare Betterment with M1 Finance, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
Digital: 0.25% annual fee for accounts with $20,000 or more or with monthly recurring deposits of $250 or more, $4/month for accounts with less than $20,000
Premium: 0.40% for accounts $100,000 or more
A $3 monthly platform fee will apply to clients with less than $10,000 in M1 assets or without an active M1 Personal Loan.
Cryptocurrency Trading
Yes
Minimum Deposit
$0
$100 ($500 for IRAs, $5,000 for Trust Account)
Checking
No-Fee Checking
Mutual Fund Trading
No
Commission Free ETFs
All U.S. listed ETFs
Phone Support
Yes
Monday - Friday 9:30 am to 4 pm EST
Live Chat Support
No
No
Email Support
Yes
Yes
Human Advisors
Yes ($100k minimum)
No
Robo Advisor
Assets Under Management
$40+ Billion
$4.5 Billion
Tax Loss Harvesting
Yes
No, but offers tax minimization features
Goal Tracker
Yes
No
Automatic Deposits
Yes
Yes
Broker Assisted Trades
Included
Good For
DIY investing with passive portfolio management
Inactivity Fee
$50 (for accounts with $50 or less and no trading or deposit activity for 90+ days)
Maintenance Fee
$3 monthly platform fee for accounts with less than $10,000 in M1 assets, or without an active M1 Personal Loan
Online Platform
Yes
Yes
iPhone App
Yes
Yes (4.6 stars, 33.3k ratings)
Android App
Yes
Yes (4.5 stars, 15.7k ratings)
Mobile App
Yes
Two-Factor Authentication
Yes
Locations
No
Online Community
No
Seminars
No
Virtual Trading
No
Single Stock Diversification
No
Fractional Shares
Yes
Yes
Taxable Accounts
Yes
Yes
401k Plans
Yes
No
IRA Accounts
Yes
Yes
Roth IRA Accounts
Yes
Yes
SEP IRA Accounts
Yes
Yes
Trust Accounts
Yes
Yes
529 Plans
No
No
CreditDonkey® Reviews
Annual Fee
Minimum Deposit
Human Advisors
Customer Service
Mobile App
Ease of Use
Research
Pros & Cons
Pros:
No minimum investment
Customized portfolios
Automatically invest extra funds
Cons:
Limited investment options
High fees for large investors
Pros:
Choose your own investments
Can invest in individual stocks
Morning and afternoon trade windows
Cons:
No research
No human advisors
Platform fee
Bottom Line
Great robo-advisor for beginners with low fees, good tools, and tax strategies... Read full review
Commission-free investing app that allows you to choose your own investments... Read full review
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.
Betterment: Pricing information from published website as of 04/04/2018
M1 Finance: Pricing information from published website as of 12/26/2023.
Betterment offers low fees, no minimum balance and good returns. But is it a good idea? Find out if it's safe to invest your money with this robo-advisor.
M1 Finance is a popular app for commission-free investing. But is there a better option for you? Find out in this detailed guide to M1 Finance alternatives.
Choosing between a robo-advisor and financial advisor depends on how much money you invest, the involvement you want, and the fees you're willing to pay.
Robo advisors make it possible for new investors to start investing. But they come with a fee. Are they worth it? Read on to learn about the pros and cons.