M1 Finance May Be Costing You THOUSANDS

Is M1 Finance costing you money every time you buy stock? Let's look into the issue and figure out what it could mean for the long-term investor with M1 finance.

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A bit about my credentials...I have a B.S. degree in Finance, I've spent my entire career working in various corporate finance roles, and have been an active stock market investor for over 20 years. While all of this means I know what I'm talking about (most of the time!), it does not mean you should act solely on my word alone.

I am not intending to, nor licensed to give personalized financial advice. I'm merely trying to share my knowledge and experience so that you are able to make better financial and investment decisions for yourself based on your own research!

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DISCLAIMER: Jay Fairbrother, including but not limited to any guests appearing in his videos, are not financial/investment advisors, brokers, or dealers. They are solely sharing their personal experience and opinions; therefore, all strategies, tips, suggestions, and recommendations shared are solely for entertainment purposes. There are financial risks associated with investing, and Jay Fairbrother’s results are not typical; therefore, do not act or refrain from acting based on any information conveyed in this video, webpage, and/or external hyperlinks. For investment advice please seek the counsel of a financial/investment advisor(s); and conduct your own due diligence.

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[peacefulyou]

M1 Finance is not built for swing trading. It was made for long term investors.

[peterholmes]

This is why I use this account for long term holdings. A few pennies missed is not going to make a blind bit of difference 10 years from now. For swing trading, I go elsewhere.

[heartsage]

If the M1 finance don't execute their trade at the highest spread possible, then, how else would they make money then?

[cpatimevalue]

M1 Bought PRU stock for me today $ 85.37, amazing the high of day was $ 85.34 How can that be, they said looking into, and would call back or send email, I got neither. Lady called me 2 months ago asked why I stopped sending money. I told her ya'll always buy my shares near high of the day. Today they cold buster themselves. It finally went barely over $ 85.40 at 1pm. I know they gonna come back and say $ 85.34 wasn't high of day. I took pictures of times to prove. Calling first thing in morning to see why no one called me back.

[hotrod]

They should have an option to let you buy the close.

[ninedragons]

It's no big deal. Just adjust your trade strategy for a 1% variant. I buy and sell at 11% I stead of 10%. Still make a 10% profit.

[JH-xpeg]

Don't trade thinly traded stocks.

[GregorF-HansS]

Why does M1 not allow to place limit orders? I find that highly suspect. I moved my account to Fidelity.

[danielalexander]

M1 is strictly for novice investors who have a long term buy and hold strategy. It's a small niche. Not for me.

[futurespaceship]

M1 or Mt4 is removed from iPhone. Mt4 allowed in the laptop cause ??

[MaxTalks]

Commenting for the algorithm ;) as I have nothing further to add

[madcowusa]

Can't stand M1. They are extremely slow in releasing your dividends, constant security login hassles and quick time out. No DRIP, awful customer service and I even had a couple of instances where I had auto invest turned OFF but they went ahead and bought the crappiest stock in my portfolio that I didn't want to put money into. Miserable experience all around. Oh, and it'll cost you $200 to move your IRA from them and another $100 for regular brokerage.

[oliveroliverwarders]

Thank you Adam Sandler (lookalike) of finance!

[MSportsEngineering]

This sounds like such a scammy practice lol. Why would anyone use this app?

[KnotDOFFY]

so would u say Fidelity or M1 finance is better I am looking for long term savings for when I am older currently 23 just I am very conflicted on which app I want too use and would like some help I guess because I don't want to put money in fidelity and then use M1 at the same time just confused and if you could give me ur thoughts Jay?

[TheAndrewLopezFinancePodcast]

So you’re telling me you don’t know how to perfectly time the market? Pshhh rookie

[darkcircles]

Lol, I just have a recurring investment on, got 3 etfs and deleted the app, don't care what happens

[doomtomb]

The peace of mind not worrying about placing orders is priceless

[joshm]

M1 is worst broker by far. Should only be used by people that know nothing about stocks.