Advice Needed: WealthFront and M1Finance?

Investing
#1

Hey folks,

Thanks for your time here to give me your opinion on this. I’m currently playing around with M1Finace and the roboadvisor, WealthFront.

WF is mostly made up of index funds while I have a lot of individual stocks in M1Finance which are based off of MotleyFool’s recommendations.

Part of me wonders if I’m wasting time being in two platforms…and I’m curious to what people think.

M1Finace is completely free while I only get the first $15k managed free at M1 Finance…however I could easily re-create the portfolio from WH into M1 if I wanted to avoid the fees.

Thanks!

#2

What are your goals? If all your money is for retirement you’re much better off sticking it all into a total market index fund with a major broker.

Wasting time on 2 platforms? Not if your goal is to learn about trading stock,etc. IMO a better place to do that is Robinhood.

There are many stories on reddit about people having issues/problems with M1 finance. I don’t know about you but I want my money in the most reliable place I can stick it, I don’t want to have issues when I want it back.

1 Like
#3

Hi Cam,
I don’t have experience with M1 finance, so I can’t comment on that, but I am familiar with Wealthfront.
The extra cost of Wealthfront is definitely for the convenience and ease of use. But if you have the knowledge and willingness to do it yourself for less elsewhere - I’d go with that.

1 Like