Designating beneficiaries ensures your assets are passed on according to your wishes. Below you’ll find detailed guidance for adding, modifying, and reviewing beneficiaries on supported M1 accounts.
Which accounts support Beneficiaries?
You can name beneficiaries on the following account types:
IRAs (Traditional, Roth, SEP):
Named beneficiaries will inherit the IRA upon your death.
Transfer on Death (TOD):
Individual Brokerage Accounts
Joint Brokerage Accounts
High-Yield Cash Account
Assets pass directly to beneficiaries, avoiding probate. Not available for Louisiana residents.
Pay on Death (POD):
High-Yield Savings Account (through B2 Bank, N.A.)
Named beneficiaries will inherit funds. Not available for Louisiana residents.
Accounts that do NOT support beneficiaries:
Crypto Accounts (powered by Bakkt)
Trust Accounts
Custodial Accounts
Understanding Primary vs. Contingent Beneficiaries
Primary Beneficiary:
The first in line to receive account assets upon your death. Their share must total 100% across all primary beneficiaries you list.
Contingent Beneficiary:
Receives assets only if all primary beneficiaries are unable or unwilling to accept them (e.g., predeceased, disclaimed, or otherwise ineligible).
You may designate up to three primary and three contingent beneficiaries per account when using the M1 Beneficiary Form.
How to add or update Beneficiaries (Web Platform)
Note: The M1 mobile app does not currently support beneficiary management. See below for mobile alternatives.
Add the same Beneficiaries to all eligible M1 accounts
Log in to M1 on the web.
Navigate to Profile > Beneficiaries in your account settings.
Click Add Beneficiary.
Enter each beneficiary’s information (including Social Security Number) and submit.
If listing more than one, assign a percentage for each and specify if they are Primary or Contingent beneficiaries.
The total share for all primary (and, if used, contingent) beneficiaries must equal 100% and use whole numbers only (e.g., 50/50 or 33/33/34).
Click Save and review your designations.
Add different beneficiaries for different accounts or add a Trust
If you want separate beneficiaries for each account or wish to designate a trust, complete the M1 Beneficiary Form and submit as instructed.
You can add up to three primary and three contingent beneficiaries per account, including trusts.
To name a trust as beneficiary, provide the trust’s legal name and Tax ID as required on the form.
For IRAs
If you’d like to add or update beneficiaries for an IRA specifically, use the IRA Beneficiary Form.
How to view and verify your beneficiaries
Log in to the M1 web platform.
Go to Profile > Beneficiaries in your account settings.
Review all listed beneficiaries; details include name, relationship, percentage share, and whether primary or contingent.
If something appears incorrect or out of date, edit as needed and save your changes.
How to change or remove Beneficiaries
Return to Profile > Beneficiaries on the web to delete, edit, or add beneficiaries.
For account-specific changes or to update a trust/contingent, use the appropriate M1 Beneficiary Form.
You can update beneficiary designations at any time. Please note: Any new designation automatically voids previous designations for that account once processed.
Mobile app users: how to add or modify Beneficiaries
Currently, the mobile app does not support beneficiary management. If you only have access to mobile, you can:
Visit the M1 Beneficiary Form online using your mobile browser and submit as instructed.
Or, use a desktop or laptop to sign in to the M1 web platform for the best experience.
Important notes
Beneficiary changes are not effective until accepted by M1. You’ll be notified once updates are processed.
For Louisiana residents: TOD and POD designations are not valid.
Social Security Numbers are required for all beneficiaries.
If you need help or have questions, contact M1 Client Success.
Brokerage accounts on the M1 platform are either fully disclosed to APEX Clearing or cleared through M1 Finance LLC. Please look at your account statement to determine how your account is cleared.
All investing involves risk, including the risk of losing the money you invest. Past performance does not guarantee future performance. Using margin can add to these risks. Users utilizing APEX cleared margin accounts should review the APEX margin account risk disclosure before borrowing. Users utilizing M1 cleared margin accounts should review the M1 margin account risk disclosure before borrowing. M1 Margin Loans are available on margin accounts with at least $2,000 invested per account. Not available for Retirement or Custodial accounts. Margin rates may vary.
Brokerage products and services are offered by M1 Finance LLC, Member FINRA / SIPC, and a wholly owned subsidiary of M1 Holdings, Inc.
M1 is not a bank. M1 Spend is a wholly-owned operating subsidiary of M1 Holdings Inc. M1 High-Yield Savings Accounts are furnished by B2 Bank, NA, Member FDIC.
M1 High-Yield Cash Account(s) is an investment product offered by M1 Finance, LLC, an SEC registered broker-dealer, Member FINRA / SIPC. M1 is not a bank and M1 High-Yield Cash Accounts are not a checking or savings account. The purpose of this account is to invest in securities, and an open M1 Investment account is required to participate in the M1 High-Yield Cash Account. All investing involves risk, including the risk of losing the money you invest.
This content was generated using artificial intelligence and is intended for informational and educational purposes only. While reasonable efforts are made to ensure accuracy, AI-generated outputs may omit key context; and should not be construed as financial, investment, legal, or tax advice. Users should independently verify all information and consult a qualified professional before making any financial decisions.
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