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M1 Finance vs Acorns

M1 Finance is a no-fee robo-advisor that allows you to choose your own investments. Good for investors who want a say.. How does it compare to Acorns? Read our comparison chart below.

M1 Finance offers free automated investing with no commissions or account fees. Unlike other robo-advisors, M1 lets you select your own investments and their automation will manage it for you. This is great for investors who want a say. The downside is that there are no human advisors. The minimum to start is just $100.

While Acorns is geared towards young investors who have trouble saving. This investment app automatically rounds up and invests your spare change whenever you make a purchase. The service fee is waived for college students. Otherwise, the fee starts at $1/month for accounts under $5,000. There is no minimum to open.

Compare M1 Finance with Acorns, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 

M1 Finance

Acorns

 

Benefits and Features

Stock Trading Part of service fee: Free for college students for 4 years, $1/month for accounts under $5,000, and 0.25%/year over $5,000. No add-on trading fees.
Annual Fee
None
Free for college students for 4 years, $1/month for accounts under $5,000, and .25% per year over $5,000
Minimum Deposit
$100
$0 for basic Digital account; $50,000 for Premium account
Phone Support
Yes - normal business hours
Yes
Live Chat Support
No
No
Email Support
Yes
Yes
Human Advisors
No
No
Assets Under Management
$100 Millon
$528 Million
Tax Loss Harvesting
Offers tax-efficient investing
No
Goal Tracker
No
Yes
Automatic Deposits
Yes
Yes
Online Platform
Yes
Yes
iPhone App
Yes
Yes
Android App
Yes
Yes
Banking Acorns Spend checking account comes with a debit card and has no minimum balance requirement, no overdraft fees, and unlimited free or fee-reimbursed ATMs nationwide. $3/mo for Acorns + Acorns Later + Acorns Spend.
Mobile App 
Yes
Single Stock Diversification 
No
Fractional Shares
Yes
Yes
Taxable Accounts
Yes
Yes
401k Plans
No
No
IRA Accounts
Yes
No
Roth IRA Accounts
Yes
No
SEP IRA Accounts
Yes
No
Trust Accounts
Yes
No
529 Plans
No
No
 

CreditDonkey® Reviews

Annual Fee
Minimum Deposit
Customer Service
Pros & ConsPros:
  • Choose your own investments
  • Can invest in individual stocks
  • No account fees
Cons:
  • Not beginner friendly
  • No human advisors
  • Can only trade once a day
Pros:
  • No minimum investment
  • Invest with spare change
  • Free for college students
Cons:
  • Fees are high for small balances
  • No tax benefits
  • Limited investment options
Bottom LineNo-fee robo-advisor that allows you to choose your own investments. Good for investors who want a say... Read full reviewInvestment app that automatically invests your spare change. Good for young investors to get into the habit... Read full review

Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

M1 Finance: Pricing information from published website as of 06/14/2018

Acorns: Pricing information from published website as of 04/04/2018

Which is Better: M1 Finance or Acorns?

Still need help deciding which investing is better? Read the in-depth reviews below. You may also be interested in comparing M1 Finance or Ally Invest.

In short: M1 Finance's annual fee is excellent.


Explore M1 Finance In-Depth

    M1 Finance

    If a robo-advisor feels too rigid for you because you are stuck with their chosen portfolios, M1 Finance is out to change your mind. Combining the benefits of automation with the ability to choose your own investments, M1 Finance might be onto something.

Explore Acorns In-Depth

    Acorns Review

    Can you really invest with your spare change? Acorns makes it possible by rounding up your purchases to the nearest dollar and investing the spare change. You don't even need to understand investment lingo to get started. Is it too good to be true?

Which Do You Think is Best?


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