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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

SPECIAL OFFER
Commission Free Stock Trading - Learn More

Read M1 Finance Review

SPECIAL OFFER
Wealthfront Cash Account - Learn More

Read Wealthfront Review

 

Benefits and Features

Savings 
5% APY Cash Management Account
Stock Trading
$0
 
Options Trading
No
 
Annual FeeA $3 monthly platform fee will apply to clients with less than $10,000 in M1 assets or without an active M1 Personal Loan.
0.25%
Cryptocurrency Trading
Yes
 
Minimum Deposit$100 ($500 for IRAs, $5,000 for Trust Account)
$500
Mutual Fund Trading
No
 
Commission Free ETFsAll U.S. listed ETFs 
Phone SupportMonday - Friday 9:30 am to 4 pm EST
Yes
Live Chat Support
No
No
Email Support
Yes
Yes
Human Advisors
No
No
Robo Advisor 
Check
Assets Under Management
$4.5 Billion
$10+ Billion
Tax Loss HarvestingNo, but offers tax minimization features
Yes
Goal Tracker
No
Yes
Automatic Deposits
Yes
Yes
Broker Assisted Trades
Included
 
Good ForDIY 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 (4.6 stars, 33.3k ratings)
Yes
Android App
Yes (4.5 stars, 15.7k ratings)
Yes
Mobile App
Check
Yes
Two-Factor Authentication
Yes
 
Locations
No
 
Online Community
No
 
Seminars
No
 
Virtual Trading
No
 
Single Stock Diversification 
Yes
Fractional Shares
Yes
No
Taxable Accounts
Yes
Yes
401k Plans
No
No
IRA Accounts
Yes
Yes
Roth IRA Accounts
Yes
Yes
SEP IRA Accounts
Yes
Yes
Trust Accounts
Yes
Yes
529 Plans
No
Yes
 

CreditDonkey® Reviews

Annual FeeStarStarStarStarStarStarStarStarStarHalf Star
Minimum DepositStarStarStarStarStarStarStarStarStarHalf Star
Mobile AppStarStarStarStarHalf Star
Customer ServiceStarStarStarHalf StarEmpty StarStarStarStarEmpty StarEmpty Star
Ease of UseStarStarStarStarHalf Star
ResearchStarEmpty StarEmpty StarEmpty StarEmpty Star
Investment TypesStarStarStarStarEmpty Star
Pros & ConsPros:
  • Choose your own investments
  • Can invest in individual stocks
  • Morning and afternoon trade windows
Cons:
  • No research
  • No human advisors
  • Platform fee
Pros:
  • Minimal opening deposit & fees
  • Advanced goal tracker
  • Tax loss harvesting
Cons:
  • No human advisors
  • No fractional shares
Bottom LineCommission-free investing app that allows you to choose your own investments... Read full reviewGood robo-advisor for hands-off investor. Fees are low, but lack human advisors... Read full review

Wealthfront Cash Account

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

Is M1 Finance legitimate and safe? Find out the pros, cons, fees, and more. An essential read for beginners interested in M1 Finance.

Best M1 Finance Pie

M1 Finance is a commission-free investment app offering ready-made portfolios that are made up of "pies." What's the best M1 Finance Pie? Find out.

M1 Finance Alternatives

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.

Articles on Wealthfront

Wealthfront Reviews

Wealthfront simplifies long-term, low-cost investing with a diversified portfolio. But is it safe? Read on to learn if Wealthfront is worth it.

Which Do You Think is Best?


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