At Investor Junkie, we reviewed over one hundred investing and personal finance services. Our goal is to bring you the most honest, simple, and informative reviews. It turns out; users also want to compare specific services.
This review compares E*TRADE Core Portfolios and M1 Finance. The better service depends on your needs. So let's dive in!
According to our readers (you!), when it comes to robo advisors, people care most about the
fees, minimum investment requirements, and whether or not the service supports for 401(k) plans.
Let's look at how E*TRADE Core Portfolios and M1 Finance stack up against each
other on these features.
To start, we will compare the fees for trading with both robo
advisors. E*TRADE Core Portfolios has
annual fees at 0.30% fee per year. In
contrast, M1 Finance has annual fees of 0%.
When it comes to fees, M1 Finance wins by not charging anything to use their service.
Let's consider the minimum investment that's required to use both E*TRADE Core Portfolios and M1 Finance.
At $0, M1 Finance requires a smaller minimum deposit.
Unfortunately, neither service offers assistance with your 401(k) and you will have to find another service if this is a requirement for you.
|Review||E*TRADE Core Portfolios Review||M1 Finance Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Promotions||No Advisory Fee For 1 Year||Invest for FREE|
|Accounts Available||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, Custodial||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, SEP IRA, Trusts|
Does the robo-advisor offer assistance with your employer sponsored retirement plan?401(k) Guidance
|Tax Loss Harvesting|
|Retirement Planning Tools|
|Automatic Deposits||Daily, Weekly, Biweekly and Monthly||Daily, Weekly, and Monthly|
|Clearing Agency||N/A||Apex Clearing|
|Socially Responsible Investing|
|Invests in Commodities|
|Invests in Real Estate|
How can you access the sevice? Website only? Via smartphone app?Access
|Website, iOS App, Android App||Website, iOS App, Android App|
More security to prevent unauthorized access to your account.Two-Factor Authentication
|Customer Service||Phone: M-F 12A-11:59P ET; Live Chat: 24/7||Phone: M-F 9A-5P CT; Email|
|Assets Under Management||$4B||$30M|
|Number of Accounts||229K||N/A|
|Sign Up||Sign Up|
About E*TRADE Core Portfolios
E*TRADE Core Portfolios offers a robo advisor service at a reasonable cost. If you are an existing E*TRADE customer and are considering an automated investment service, you may want to use Core Portfolios. Unfortunately, you need at least $5,000, and it doesn't offer tax-loss harvesting.
About M1 Finance
Combining the best of both traditional investment brokerage accounts and robo advisors, M1 Finance is dangerously close to being the perfect all-around investment platform. The only significant negatives are that it does not offer tax-loss harvesting or investment in mutual funds.