M1 Finance is suitable for investors seeking more control over their investments, including access to individual stocks and crypto, and those interested in custodial accounts and SRI. Fidelity Go is better for those who prefer a simpler, more hands-off approach with access to human advisors for larger accounts, and who prioritize low minimum investments.
| Attribute | M1 Finance | Fidelity Go |
|---|---|---|
| Minimum Investment Requirement | $100 for brokerage accounts, $500 for retirement accounts. | No minimum to open, $10 to start investing. |
| Annual Advisory Fee | M1 Finance does not charge commission, trading, or management fees for self-directed brokerage accounts. However, there is a $3 monthly platform fee for users who do not have at least $10,000 invested. This fee can be waived by having an active M1 Personal Loan or an M1 credit card. | No fee under $25,000; 0.35% per year for balances of $25,000 or more. |
| Investment Options (e.g., ETFs, stocks) | Stocks, ETFs, and cryptocurrency. M1 Finance offers access to over 6,000 securities. | Fidelity Flex mutual funds (domestic stocks, foreign stocks, bonds, short-term investments). |
| Account Types Supported (e.g., taxable, retirement) | Individual and Joint Brokerage Accounts, Traditional, Roth, and SEP IRAs, Trust Accounts, Custodial Accounts (UGMA/UTMA), Cash Account, Crypto Account, 401(k) rollover. | Taxable accounts, Traditional IRAs, Roth IRAs, Rollover IRAs, Health Savings Accounts (HSAs). |
| Automated Rebalancing Frequency | M1 Finance offers automated dynamic rebalancing to maintain investment targets. Rebalancing occurs with new contributions or by clicking a button. | As needed based on market fluctuations, not a set schedule. |
| Tax-Loss Harvesting | M1 Finance does not offer tax-loss harvesting. However, they do employ a "tax minimization" strategy when selling securities. | Not offered; prioritizes tax-advantaged investments like municipal bonds in taxable accounts. |
| Personalization Options (e.g., goal setting, risk tolerance) | Customizable investment portfolios ("Pies"), Ability to invest in fractional shares, Selection from pre-built portfolios. | Goal setting, risk tolerance assessment, ability to adjust portfolio risk level. |
| Access to Human Advisors | M1 Finance does not offer access to human financial advisors. | Available for clients with $25,000 or more (unlimited 30-minute coaching calls). |
| Mobile App Availability and Features | M1 Finance offers mobile apps on iOS and Android. The app provides access to features like Auto-Invest and Dynamic Rebalancing. | Available on iOS and Android (Fidelity Investments app); includes trading, goal setting, tracking spending, paying bills, depositing checks. |
| Socially Responsible Investing (SRI) Options | M1 Finance offers managed or model portfolios grouped based on investment goals, including responsible investing. | Not offered. |
| Fractional Shares | M1 Finance allows investors to buy fractional shares, enabling them to invest in stocks even with limited funds. M1 splits every share into 1/100,000th of a share. | It is not clear whether Fidelity Go offers fractional shares. |
| Custodial Accounts | M1 Finance offers custodial accounts (UTMA/UGMA) that allow you to invest on behalf of a minor. | Not supported. |