M1 is an all-in-one money management platform labeling itself as the financial super app with more than $6 billion in assets under management (AUM) and over 500,000 members.
Founded in 2015 by Brian Barnes (Linkedin), the Chicago-based company offers a robo-advisory investment platform with brokerage accounts, digital checking accounts, and lines of credit.
M1 features an electronic trading platform for trading financial assets, including common stocks, preferred stocks, fractional interests, and exchange-traded funds.
M1 also offers margin loans, automatic rebalancing, automatic dividend reinvestment, and cash management services including debit cards.
M1 is not a bank. M1 Spend checking accounts are provided by Lincoln Savings Bank, Member FDIC. The M1 Visa® debit card is issued by Lincoln Savings Bank, Member FDIC.
The M1 Platform is for U.S. Permanent Residents and U.S. citizens residing in the U.S. only.
M1 Finance is insured by the Securities Investor Protection Corporation (SIPC).
The SIPC insures the securities that you hold in your portfolio, as well as the cash sitting in your brokerage account.
We could not identify any irregularities around the company and therefore classify it in our “Green Compliance” list.