Wealthfront is a leading US robo advisor, regulated by the Securities and Investment Commission (SEC). The low fees and choice of investment profiles makes it stand out from rivals. The brokerage is also trusted by 640,000+ customers with over $43 billion in AUM.
M1 Finance is a US brokerage that allows users to build a customizable investment portfolio from a range of 6000+ stocks and shares, ETFs and cryptocurrencies. The innovative 'pie' based portfolio management system allows traders to build several portfolios with different aims, and the brokerage supports machine-learning tools that can provide automated portfolio management.
Bonus Offer
M1 Finance Plus free for 3 months on new accounts
Comment by Reviewer
"Wealthfront is a good option for long-term investors looking for a hands-off approach to trading. We like the choice of trading accounts, retirement solutions, individual savings profiles all within a sleek and modern interface."
"M1 Finance remains a great choice for US investors who want a straightforward, commission-free way to invest in stocks and crypto. The intuitive dashboard, customizable portfolios and fractional shares should appeal to all experience levels and investing goals. "
Pros
Automated investment opportunities through robo advisors with financial advice, planning and automatic portfolio rebalancing
A choice of accounts to suit different trading goals including retirement investing (IRAs) and individual investing solutions
Transparent and competitive pricing model with no account opening fees, inactivity charges or commissions
Trustworthy broker registered with the US SEC alongside fund insurance from FDIC and SIPC
Direct indexing (a feature where individual shares in an ETF are purchased separately)
User-friendly platform with mobile app compatibility on iOS & Android devices
Competitive 0.25% annual advisory fee for AUM
Low advisory fees and ETF expense ratios
ESG/Socially Responsible friendly
Tax-efficient trading strategies
Promotions for new clients
Thanks to additional extras like a bank account and loan service, M1 Finance continues to offer a one-stop shop for investors
The broker offers commission-free stocks with low fees, plus fractional shares, making it a great choice for beginners
The broker delivers a clean and easy-to-use dashboard that illustrates the current composition of your portfolio
The firm offers a straightforward proprietary platform with intuitive portfolio management tools
Multiple portfolios can be facilitated, with up to five accounts under the same login
Customizable 'pies' allow investors to curate their own ETFs
The range of 6000+ stocks and ETFs is highly competitive
Bitcoin trading is available through M1 Crypto
Cons
Limited human component to advisory service
Poor customer support with no live chat
The brand accepts US clients only
Less suitable for short-term trading
No large-balance discounts
Despite offering stocks and ETFs, M1 Finance doesn’t provide trading on mutual funds or options
Unlike competitors such as Betterment, M1 does not employ any human financial advisors
M1 Finance is only available in the US – eToro is a top alternative for the UK market
Accounts with less than $20 and no trading activity for 90 days are charged a fee
The way trades are placed puts transaction timing out of your control
You cannot consolidate external accounts for planning purposes
Wealthfront supports investing in Bitcoin and Ethereum via statutory trusts. Cryptocurrency cannot exceed 10% of your total portfolio to protect against significant volatility, so if you are an active crypto trader, this isn't the best broker.
M1 Finance users can open a crypto account to invest in 10 cryptocurrencies including Bitcoin, Ethereum, Cardano and Solana. You can also invest in six crypto-related funds and ETFs, which are a good way to get broader exposure to the digital currency market.
