US automated investing platform M1 Finance, has abolished all fees for investors, regardless of the size of their accounts.
The move enables investors to buy stocks and exchange- traded- funds (ETFs) for the first time, free of charge.
M1 Invest’s founder and CEO Brian Barnes, said: “The future of finance is free.
“What Robinhood created for the modern trader, M1 is now doing for the modern investor.”
The robo advisor used to have three pricing categories:
- Zero fees for accounts with less than $1000
- A 0.25% fee for accounts between $1000 and $100,000
- A 0.1% fee for accounts more than $100,000
Barnes said: “If you’re an investor who wants to add to your portfolio over time, there has never been a better platform than M1. And now that we’re free, there’s no reason to invest anywhere else.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataBy Wednesday, had about 25,000 accounts, and their assets under management were almost $100m, WealthManagement.com reported.