M1 Finance vs Empower
M1 Finance is a commission-free investing app that allows you to choose your own investments. How does it compare to Empower? Read our comparison chart below.
M1 Finance offers automated investing with no commissions or trading fees. 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 Empower offers free financial tools and paid wealth management services. Its wealth management fees start at 0.89% of assets under management. Empower free tools include a personal dashboard, fee analyzer, and retirement planner.
Compare M1 Finance with Empower, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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| Learn More | Visit Site | |
M1 Finance | Empower | |
|---|---|---|
Commission Free Stock Trading - | Join Empower For Free - | |
Benefits and Features | ||
| Stock Trading | ||
| Options Trading | ||
| Annual Fee | A $3 monthly platform fee will apply to clients with less than $10,000 in M1 assets or without an active M1 Personal Loan. | Investment Account: $0; Wealth Management:0.89% for first $1 million, 0.79% for first $3 million, next $2 million 0.69%, next $5 million, 0.59%, and 0.49% over $10 million |
| Cryptocurrency Trading | ||
| Minimum Deposit | $100 ($500 for IRAs, $5,000 for Trust Account) | |
| Mutual Fund Trading | ||
| Commission Free ETFs | All U.S. listed ETFs | |
| Phone Support | Monday - Friday 9:30 am to 4 pm EST | |
| Live Chat Support | ||
| Email Support | ||
| Human Advisors | ||
| Robo Advisor |  | |
| Assets Under Management | ||
| Minimum Investment | Investment Account: $0; Wealth Management: $100,000 | |
| Tax Loss Harvesting | No, but offers tax minimization features | |
| Goal Tracker | ||
| Automatic Deposits | ||
| Broker Assisted Trades | ||
| Good For | DIY investing with passive portfolio management | |
| Inactivity Fee | $50 (for accounts with $50 or less and no trading or deposit activity for 90+ days) | |
| Maintenance Fee | $3 monthly platform fee for accounts with less than $10,000 in M1 assets, or without an active M1 Personal Loan | |
| Online Platform | ||
| iPhone App | ||
| Android App | ||
| Mobile App | | |
| Two-Factor Authentication | ||
| Locations | ||
| Online Community | ||
| Seminars | ||
| Trading Platform | ||
| Virtual Trading | ||
| Investment Tracking | | |
| Single Stock Diversification | ||
| Fractional Shares | ||
| Taxable Accounts | ||
| 401k Plans | ||
| IRA Accounts | ||
| Roth IRA Accounts | ||
| SEP IRA Accounts | ||
| Trust Accounts | ||
| 529 Plans | ||
CreditDonkey® Reviews | ||
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| Annual Fee |  | |
| Minimum Deposit | | |
| Mobile App |  | |
| Customer Service |  | |
| Ease of Use | | |
| Research | | |
| Human Advisors | | |
| Robo Advisor | | |
| Price | | |
| Goal Tracker | | |
| Budgeting | | |
| Investment Tracking | | |
| Retirement Planning | | |
| Pros & Cons | Pros:
| Pros:
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| Bottom Line | Commission-free investing app that allows you to choose your own investments... | Free advanced tools plus hybrid advisory service for people with over $100k in investments... |
| Learn More | Visit Site | |
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 12/26/2023. Empower: Pricing information from published website as of 04/30/2020 Empower: Empower Personal Wealth, LLC (“EPW”) compensates CREDITDONKEY INC for new leads. CREDITDONKEY INC is not an investment client of Personal Capital Advisors Corporation or Empower Advisory Group, LLC. | ||
Which is Better: M1 Finance or Empower?
Still need help deciding which investing is better? Read the in-depth reviews below. You may also be interested in comparing M1 Finance or Robinhood.
In short: Empower's customer service is excellent.
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