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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 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.

While 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.

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

 Empower
 Visit SiteLearn More
 

Empower

M1 Finance

SPECIAL OFFER
Join Empower For Free - Learn More

Read Empower Review

SPECIAL OFFER
Commission Free Stock Trading - Learn More

Read M1 Finance Review

 

Benefits and Features

Stock Trading 
$0
Options Trading 
No
Annual FeeInvestment 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
A $3 monthly platform fee will apply to clients with less than $10,000 in M1 assets or without an active M1 Personal Loan.
Cryptocurrency Trading 
Yes
Minimum Deposit
$100,000
$100 ($500 for IRAs, $5,000 for Trust Account)
Mutual Fund Trading 
No
Commission Free ETFs All U.S. listed ETFs
Phone Support
Yes
Monday - Friday 9:30 am to 4 pm EST
Live Chat Support
No
No
Email Support
Yes
Yes
Human Advisors
Yes
No
Robo Advisor
Check
 
Assets Under Management
$1.6 Trillion
$4.5 Billion
Minimum InvestmentInvestment Account: $0;
Wealth Management: $100,000
 
Tax Loss Harvesting
Yes
No, but offers tax minimization features
Goal Tracker
Yes
No
Automatic Deposits
Yes
Yes
Broker Assisted Trades 
Included
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
Yes
Yes
iPhone App
Yes
Yes (4.6 stars, 33.3k ratings)
Android App
Yes
Yes (4.5 stars, 15.7k ratings)
Mobile App
iOS & Android
Check
Two-Factor Authentication 
Yes
Locations 
No
Online Community 
No
Seminars 
No
Trading Platform 
Web Trading, Mobile Apps
Virtual Trading 
No
Investment Tracking
Check
 
Single Stock Diversification
Yes
 
Fractional Shares
No
Yes
Taxable Accounts
Yes
Yes
401k Plans
Yes
No
IRA Accounts
Yes
Yes
Roth IRA Accounts
Yes
Yes
SEP IRA Accounts
Yes
Yes
Trust Accounts
Yes
Yes
529 Plans
Yes
No
 

CreditDonkey® Reviews

 Empower
Human AdvisorsStarStarStarStarStar
Robo AdvisorStarStarStarEmpty StarEmpty Star
PriceStarStarStarStarStar
Goal TrackerStarStarStarStarStar
BudgetingStarStarStarEmpty StarEmpty Star
Customer ServiceStarStarStarStarStarStarStarStarHalf StarEmpty Star
Ease of UseStarStarStarStarStarStarStarStarStarHalf Star
Investment TrackingStarStarStarStarStar
Retirement PlanningStarStarStarStarStar
Annual FeeStarStarStarStarStar
Minimum DepositStarStarStarStarStar
Mobile AppStarStarStarStarHalf Star
ResearchStarEmpty StarEmpty StarEmpty StarEmpty Star
Pros & ConsPros:
  • Retirement planner
  • Free portfolio advice
  • Robo plus human advisors
Cons:
  • $100,000 min for advisory service
  • Higher fees than competitors
Pros:
  • Choose your own investments
  • Can invest in individual stocks
  • Morning and afternoon trade windows
Cons:
  • No research
  • No human advisors
  • Platform fee
Bottom LineFree advanced tools plus hybrid advisory service for people with over $100k in investments... Read full reviewCommission-free investing app that allows you to choose your own investments... Read full review
 Visit SiteLearn More

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.

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 Quicken.

In short: Empower's customer service is excellent.


Articles on Empower

Empower

Empower offers wealth management services and free financial tools. But is it legit? Find out if this robo advisory service is right for you.

Is Empower Safe

Empower offers free budgeting tools. But is it safe to link all your financial accounts? Learn just how secure Empower is.

Empower vs Quicken

Quicken is the oldest name in personal finance software, while Empower is newer and offers advanced tools for free. Read on to see if it's a good alternative to Quicken.

Empower vs Mint

Empower and Mint are popular money management apps. Read this review to find out how they compare and which one is better for you.

Articles on M1 Finance

M1 Finance

Is M1 Finance legitimate and safe? Find out the pros, cons, fees, and more. An essential read for beginners interested in M1 Finance.

Best M1 Finance Pie

M1 Finance is a commission-free investment app offering ready-made portfolios that are made up of "pies." What's the best M1 Finance Pie? Find out.

M1 Finance Alternatives

M1 Finance is a popular app for commission-free investing. But is there a better option for you? Find out in this detailed guide to M1 Finance alternatives.

Which Do You Think is Best?





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About CreditDonkey
CreditDonkey is a personal finance comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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