Invest:
- Brokerage Accounts (Individual, Joint)
- Retirement Accounts (Traditional, Roth, SEP IRAs)
- Trust Accounts
- Custodial Accounts
Spend:
Brokerage accounts
- Individual brokerage accounts - An account used to buy and sell stocks, bonds, exchange traded funds, and other types of investments.
- Joint brokerage accounts - An account used to establish equal ownership. Joint accounts are used by couples, parents and their children (over 18 years old), and adults caring for aging parents.
Retirement accounts
- Individual retirement account (IRA) - A retirement savings account that allows for tax benefits in saving for your retirement. At M1 Finance you can open a Traditional, Roth, or SEP IRA. Learn more about M1's IRAs.
- Traditional IRA - A tax-advantaged account designed to help people save for retirement. Contributions are generally made with after-tax money but may be tax-deductible if you meet income eligibility. Any potential earnings grow tax-deferred and are not taxed until you withdraw them after age 59½. Read more about Traditional IRAs on the IRS website.
- Roth IRA - A tax-advantaged savings account that provides federally tax-free growth and distributions once it has been open for 5 years and you are at least 59½ years of age. Contributions are made with after-tax income. Read more about Roth IRAs on the IRS website.
- Simplified employee pension (SEP) IRA - A retirement savings account for self-employed individuals or small business owners. A SEP IRA has a higher contribution limit than a Traditional or Roth IRA. M1 currently only support SEP IRAs for self-employed individuals.
Learn more about opening an account:
You will gain access to opening an IRA account after you complete opening your first Individual account. This can take up to 24 hours to process.
Trust accounts
- Trust accounts can be set up in M1 through our paper account opening process. When you select "trust" as your account type in the sign-up process, we’ll send you forms that to fill out and return to us.
- As soon as the trust account application is processed, you will be able to manage your account on the platform the same way you would a M1 taxable brokerage account.
Custodial accounts
- A Custodial account is an account that a custodian sets up for the benefit of a minor. The funds in the account are considered an irrevocable gift until the minor reaches the age of majority.
Custodial accounts are only available for M1 Plus users.
M1 Checking Accounts
- M1 Checking Accounts are your personalized bank accounts, to integrate your cash management with your investment portfolio.
- What does Spend offer?
- Integrated and automated cash management
- A bank account integrated into the M1 network
- Having all your assets under one roof allows you to access funds quickly and automatically
Owner’s Rewards Card (credit card)
- A credit card that integrates with your M1 accounts.
Learn more about our Owner’s Rewards Card here
M1 and its affiliates do not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only. It is not intended to provide, and should not be relied on for tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors.