M1Reviews of m1.com

SCAM!!!!!!!!!!!!!!!!!!!

I dont know if it is a new kind of marketing, But I got a "Welcome to M1" mail and a verification mail. It was happening while I was sleeping, so not me. Else someone got a hold of my mail and made a "prank".. though I cant see why, because im in Europe.. I'm contacting support, lets hope for the best

I was a victim of identity theft. The outcome was being locked out of my accounts for five days. M1 couldn't even get me in. In the meantime, theft occurred on my savings and spend account. They seem unwilling to assist in the recovery of my funds at one time even stated I initiated the checks. NO. Read all the emails and listen to the phone calls I made with M1! Add insult to injury, I asked for M1 to freeze all accounts for 30 days. That 30 days have come and gone and now I can't get my accounts unfrozen!!! I've uploaded everything to do so. I'm being held hostage by this miserable company. What an absolute horror!! I'm now 45 days past initial conversation and still can not access my funds nor have I been credited the funds that were stolen.

I signed up for this company on the recommendation of Paul Merriman at Sound Investing. I opened accounts for myself and one of my grandchildren without a hitch. However, I recently tried to open another custodial account for another grandchild. I have spent over two weeks trying to open this custodial account and I finally gave up. I opened the account at Schwab with one phone call in less than three minutes! I think I have exchanged in excess of 30 emails over the last two weeks trying to open this account and it is still not opened. They only have email support which might work if there were continuity but there is no continuity! When someone answers my email, many times they do not understand nor have they read the previous emails and the question remains unanswered. I would recommend avoiding M1 until they improve support

If I could give this company negative stars I would. Their customer service could not be worse. It is hard to get through to a real person on the phone and next to impossible online. When I finally got through to them on the phone, I asked that they rescind my request that I made hours earlier to transfer my account from another brokerage. That was never done. This was after repeated emails and phone calls when I was assured to would not go through. Apparently, customer service was humoring me. They repeatedly assured me the transfer would not go through but it went through anyway. The reason I pulled the plug on the request is that they won't accept transfers of mutual funds. They will automatically liquidate mutual funds. That will be mean a big tax bill.

One of the worst investing decisions I've ever made in over 40+ years of investing history. First of all the website is atrocious, navigating it makes no sense at all. Their support is very difficult to reach in a timely manner. The "pie" (automated investing based on copying purported moves by known investment groups) is not what you would expect it to be since it also ties your investing moves to only 2 specific times in a trading day (early morning and late afternoon). This later issue can cause severe fluctuations that are impossible to correct. The world does not function on only two time slots in each day. Even their banking (saving account) offers are not what they appear to be. For example they now are offering a 5% API savings deposit rate, but you need to know that this is tied to being an M1 plus customer which requires a membership that is now $10 per month or a non-cancellable $95 per year, which will definitely eat into your interest earnings. Lastly, if you ever want to close your account beware that it will NOT be closed as soon as you notify them of your decision. Mine took well over 10 days to close as it was done in bits and pieces. The result was serious losses deducted from what I was expecting from the day I closed my account. I would not at all recommend this company to handle investments at all.

I had an incredibly disappointing experience with M1 Broker. Firstly, their customer support representative Andrea was incredibly argumentative and unhelpful when I reached out for assistance. Her unwillingness to understand my issue made the experience frustrating and unproductive. On top of that, I found M1 Broker's user interface to be visually decadent and outdated, the bank connection section is cluttered with duplicates, making it extremely difficult to navigate. It's clear that the company lacks innovation and has done little to make their platform intuitive and more appealing for their users. Furthermore, I was extremely disappointed with M1 Broker's attempt to sell me a membership for $125 a year, which offered very little benefits and they are not competitive benefits at all. It seemed like a complete waste of money, you can get SO much more for $5 a month in other Brokerages, with way batter support, more responsive, quality, user interface and ease of use. Overall, I would not recommend M1 Broker based on my experience. Taxes are also messy with them they send me up to 3-4 corrected forms every year. The company has significant areas for improvement, particularly in their customer service and user experience.

I initially made a transfer to my bank from M1 finance. However, M1 canceled my transfer on the third business day (smart move). So, I went ahead and did a re-transfer, and to my surprise, they froze my account (smart move again). When I called to see what happened, they said you account is frozen and we need documents via email portal which took several days for them to keep asking for more documents. They asked for ID, I sent it to them, They asked for Passport, I sent it to them. They asked for bank statements, I sent it to them. they asked me to send a picture with my face next to my ID, I sent it o them. And then I called to get an update on what the status was. To my surprise, they had blocked my phone number. My account is frozen, my money is held, and M1 is not responding. What a Scam! please, please, do not invest with M1. everything goes smooth until you need to take the money out. Please report to the Better Business Bureau ASAP. move you money somewhere else and keep leaving reviews and share their unethical, scam techniques.