M1 Joint Investment Account: A Comprehensive Overview

The M1 Joint Investment Account is a type of investment account that allows two or more individuals to pool their money together for investment purposes.

With an M1 Joint Investment Account, you can invest in a variety of assets, including stocks, bonds, ETFs, and more, all in one place.

One of the benefits of an M1 Joint Investment Account is that it allows for easy and seamless investment management, as all accounts are managed through a single platform.

This makes it simple to track your investments and make decisions about your portfolio as a team.

To set up a joint M1 Finance account, you'll need to choose the correct account type. Choose Joint Investing if you're married, as it's highly suggested by M1 Finance.

You'll then verify your email address, which is the one you signed up with. M1 Finance will send an email, and you'll need to click on the verification link to confirm.

You can choose from several account types, including Individual Investing, Joint Investing, Retirement, Trust Account, and Custodial Account. If you're not married, Individual Investing is the way to go.

To get started, you'll need to provide some basic information, such as your name, date of birth, and Social Security number. You'll also need to create a username and password.

You can connect your bank account manually or instantly via PC or mobile phone. M1 Finance uses Plaid to connect to your bank account, protecting your information by not storing it with their servers.

Here are the steps to set up an M1 Finance account:

M1 Joint Investment Account fees are straightforward and easy to understand. You won't be charged any trading fees, commissions, or management fees.

One key fee to be aware of is the platform fee, which is $3 per month. This fee is waived if you have an aggregate balance of $10,000 or more for at least one day during the 30 days prior to the fee being charged.

If you're eligible for the platform fee waiver, you'll also have your IRA fee waived. This is a nice perk for those who meet the requirements.

The platform fee is charged automatically to your account, and you can select a default payment account to make things easier. This can be an Individual Brokerage, Joint Brokerage, Savings Account, or Cash Account.

If your default payment account doesn't have enough funds, M1 will attempt to bill other eligible accounts in a specific order. This order is: Individual or Joint Brokerage Accounts with $3 or more in cash, Savings Accounts or Cash Accounts, and any other Individual or Joint Brokerage Accounts.

If the platform fee can't be charged to any of these accounts, securities in your Investment Account may be sold to cover the fee. This is a last resort, but it's essential to be aware of the possibility.

Here's a quick rundown of the eligible accounts for platform fee payment:

Keep in mind that Custodial, Trust, IRA, Crypto Accounts, and credit cards, including the Owner’s Rewards Card, are not eligible for platform fee payment.

Auto Invest Option is a convenient feature that allows your cash to be automatically invested based on the percentages you've set up in your pie.

You can designate a certain amount to always sit in cash, or turn off the feature if you prefer to manually invest at a time that suits you.

M1 Finance's auto invest option works similarly to a 401k, where money is automatically invested as it's added to the account.

Dynamic Rebalancing is a feature that helps your portfolio stay on track. It automatically sells overweight assets and buys underweight ones to bring your portfolio back in line with your desired allocation.

With Dynamic Rebalancing, you can invest new money into your portfolio and M1 will adjust the allocations accordingly. This means that if you have a portfolio with a 25% allocation to each asset, but some assets are at 28% and others are at 22%, M1 will invest new money into the underweight assets.

You can initiate Dynamic Rebalancing by hitting the "Sell" button and M1 will automatically sell the assets that are overweight. This process will continue until your portfolio is back in line with your desired allocation.

Dynamic Rebalancing is a great way to maintain a balanced portfolio over time, and it's a key feature of M1 Finance.

The Auto Invest Option is a feature that allows you to automatically invest cash into your M1 Finance account. This feature is great for those who consistently add money to their account each month.

You can set up the Auto Invest Option to automatically invest money based on the percentages you've set up in your pie, which is a way to divide your investments into different categories. If you want to always have a certain amount sitting in cash, you can designate that amount.

The Auto Invest Option is optional, and you can turn it off if you prefer to manually invest your cash at a time that suits you. This is similar to having a 401k account where you add money regularly.

Remember, if you start setting up your pies and changing things around, nothing will happen until you hit the 'Confirm' button. Don't be afraid to experiment and play around with the platform until you're satisfied.

The support team at M1 Finance is available to help with any questions or concerns you may have, and they'll get back to you pretty quickly.

With M1 Finance, you can set up various types of accounts, including individual and joint taxable brokerage accounts.

You can also set up individual retirement accounts (IRAs) or custodial trust accounts with additional paperwork, and even use the concierge service to roll over your IRA or set up a SEP IRA.

M1 Finance has an A- Better Business Bureau rating, indicating a good reputation for safety, reliability, and trustworthiness among its users.

You can set up various types of accounts on M1 Finance, including individual and joint taxable brokerage accounts.

Individual accounts are a good choice if you're single, while joint accounts are recommended for married couples.

You can also set up individual retirement accounts (IRAs) on M1 Finance.

A taxable brokerage account can be set up for either long-term or short-term investments.

Here's a summary of the account types you can set up on M1 Finance:

M1 Finance has a solid reputation for safety, with an A- Better Business Bureau rating.

The platform is a registered financial brokerage firm, licensed by the US's SEC and FINRA, which is a big deal for trustworthiness.

M1 Finance takes account security seriously, meeting industry standards and using advanced security protocols to protect sensitive information.

Two-factor authentication and 4096-bit military-grade encryption are just two of the security features that keep data secure on the platform.

As a member of the Securities Investor Protection Corporation (SIPC), investor funds are insured up to $500,000, which provides an added layer of protection.

M1 Finance offers a range of account types, including single and joint accounts, which are the basic brokerage accounts you'd find at other investment firms.

You can also open an IRA, traditional Roth SEP IRAs, and trust accounts with M1 Finance.

One of the features I'm really excited about is the ability to set up a 401k trust account, which is not available at other places like Robinhood.

M1 Finance allows you to set up custodial accounts, which is a great option for parents who want to start saving for their kids' future.

M1 Finance offers a range of accounts to suit your investment needs, including retirement and non-retirement accounts.

You can set up individual and joint taxable brokerage accounts, giving you flexibility to manage your finances together with a partner or family member.

Individual retirement accounts (IRAs) are also available, including Roth IRAs, Traditional IRAs, and SEP IRAs.

M1 Finance supports custodial trust accounts, but requires additional paperwork to set up.

Here are some account options available on M1 Finance:

With M1 Finance, you can set up long-term or short-term investments for a taxable brokerage account, depending on your financial goals.