M1 Finance vs Wealthfront
M1 Finance is a commission-free investing app that allows you to choose your own investments. How does it compare to Wealthfront? Read our comparison chart below.
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.
While Wealthfront has a low fee of 0.25% and a minimum of $500 to open an account. Wealthfront offers advanced planning tools to help provide a complete picture of your financial health and track your goals. However, there are no human advisors.
Compare M1 Finance with Wealthfront, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
M1 Finance | Wealthfront | |
|---|---|---|
Commission Free Stock Trading - | Wealthfront Cash Account - | |
Benefits and Features | ||
| Savings |  | |
| Stock Trading | ||
| Options Trading | ||
| Annual Fee | 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 | ||
| Minimum Deposit | $100 ($500 for IRAs, $5,000 for Trust Account) | |
| Mutual Fund Trading | ||
| Commission Free ETFs | All U.S. listed ETFs | |
| Phone Support | Monday - Friday 9:30 am to 4 pm EST | |
| Live Chat Support | ||
| Email Support | ||
| Human Advisors | ||
| Robo Advisor |  | |
| Assets Under Management | ||
| Tax Loss Harvesting | No, but offers tax minimization features | |
| Goal Tracker | ||
| Automatic Deposits | ||
| Broker Assisted Trades | ||
| 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 | ||
| iPhone App | ||
| Android App | ||
| Mobile App | | |
| Two-Factor Authentication | ||
| Locations | ||
| Online Community | ||
| Seminars | ||
| Virtual Trading | ||
| Single Stock Diversification | ||
| Fractional Shares | ||
| Taxable Accounts | ||
| 401k Plans | ||
| IRA Accounts | ||
| Roth IRA Accounts | ||
| SEP IRA Accounts | ||
| Trust Accounts | ||
| 529 Plans | ||
CreditDonkey® Reviews | ||
| Annual Fee |  |  |
| Minimum Deposit | | |
| Mobile App | | |
| Customer Service |  | |
| Ease of Use | | |
| Research | | |
| Investment Types | | |
| Pros & Cons | Pros:
| Pros:
|
| Bottom Line | Commission-free investing app that allows you to choose your own investments... | Good robo-advisor for hands-off investor. Fees are low, but lack human advisors... |
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. M1 Finance: Pricing information from published website as of 12/26/2023. Wealthfront: Pricing information from published website as of 04/20/2024. | ||
Which is Better: M1 Finance or Wealthfront?
Still need help deciding which investing is better? Read the in-depth reviews below. You may also be interested in comparing M1 Finance or Robinhood.
Articles on M1 Finance
M1 Finance Review
Best M1 Finance Pie
M1 Finance Alternatives
Articles on Wealthfront
Wealthfront Reviews
Which Do You Think is Best?
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