Empower vs M1 Finance
Empower is a free advanced tools plus hybrid advisory service for people with over $100k in investments. How does it compare to M1 Finance? Read our comparison chart below.
Empower offers free advanced financial tools and paid wealth management services.
While M1 Finance offers free automated investing with no commissions or account 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.
Compare Empower with M1 Finance, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
 |  | |
| Visit Site | Visit Site | |
Empower | M1 Finance | |
|---|---|---|
Free Money Management Tools - | M1 Investment Account - Up to $500 Bonus - | |
Benefits and Features | ||
| Stock Trading | ||
| Options Trading | ||
| Annual Fee | 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 | ||
| 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 | ||
| 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 less than $50 and no activity for 90+ days) | |
| Maintenance Fee | ||
| Online Platform | ||
| iPhone App | ||
| Android App | ||
| Banking | All users can open a M1 Spend account with free debit card. No monthly service fees and no balance requirements. | |
| Mobile App | | |
| Two-Factor Authentication | ||
| Locations | ||
| Online Community | ||
| Seminars | ||
| 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 | ||
| | |
| Human Advisors |  | |
| Robo Advisor |  | |
| Price | | |
| Goal Tracker | | |
| Budgeting | | |
| Customer Service | |  |
| Ease of Use | | |
| Investment Tracking | | |
| Retirement Planning | | |
| Annual Fee | | |
| Minimum Deposit | | |
| Mobile App | | |
| Research | | |
| Pros & Cons | Pros:
| Pros:
|
| Bottom Line | Free advanced tools plus hybrid advisory service for people with over $100k in investments... | No-fee investing app that allows you to choose your own investments... |
| Visit Site | 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. Empower: Pricing information from published website as of 04/30/2020 M1 Finance: Pricing information from published website as of 12/26/2023. 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. | ||
Empower Personal Cash
- 4.70% APY
- $0 monthly fee
- Withdraw up to $100k per day
M1 Investment Account - Up to $500 Bonus
Open a new M1 investment account. Deposit $10,000 or more into the account within 14 calendar days of account opening. Promotional credit will depend on the deposited value made into the account.
| Deposited Value | Promotional Credit |
|---|---|
| $10,000 - $29,999.99 | $75 |
| $30,000 - $49,999.99 | $150 |
| $50,000 - $99,999.99 | $250 |
| $100,000+ | $500 |
This offer is only for customers who have never registered for an M1 user account.
Commission Free Stock Trading
M1 Finance allows investors the choice of ETFs and stocks. M1 charges no management fees or commission.
Get M1 Plus Free for First 3 Months
New M1 customers get M1 Plus for free on their first 3 months, then it's just $3 a month.
M1 Plus is a paid membership that confers benefits for products and services offered by M1 Finance LLC, M1 Spend LLC and M1 Digital LLC, each a separate, affiliated, and wholly-owned operating subsidiary of M1 Holdings Inc. "M1" refers to M1 Holdings Inc., and its affiliates.
*Your free trial (a $9 value) begins the date you enroll in the M1 Plus subscription, and ends 3 months after (“Free Trial”). Upon expiry of the Free Trial, your account is automatically billed a monthly subscription fee of $3 unless you elect annual billing of $36 or cancel your subscription under your Membership details in the M1 Platform. We'll remind you when your renewal date is approaching.
Which is Better: Empower or M1 Finance?
Still need help deciding which investing is better? Read the in-depth reviews below. You may also be interested in comparing Empower or Robinhood.
In short: Empower's customer service is excellent.
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