M1 Finance Adds Feature to Link Client Accounts

M1 Finance Adds Feature to Link Client Accounts

Smart Transfers allows for pre-set movement between checking, investing and borrowing programs.


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Personal finance platform M1 Finance has introduced a feature that automatically links its investing, borrowing and spending capabilities, allowing money transfers between all three modules.

Smart Transfers, as the new feature is called, lets M1 clients set thresholds for minimum and maximum dollars in their Spend Plus checking account, which can be replenished from cash in their M1 Invest account when the balance falls below the minimum, for example.

When the balance exceeds the maximum set, they can move those funds into their Invest account. The client would just have to create the rules that set the parameters for the automatic movement of funds.

“Smart Transfers are the answer [to our] on-going quest to help investors optimize every dollar and build long-term wealth and achieve financial freedom with ease and control,” said Brian Barnes, M1 CEO, in a statement.

In all cases, including the investing module, the investor decides. This differs from other digital advisor services that offer pre-set portfolios based on risk tolerance.

“There is a lot of flexibility,” Barnes told ThinkAdvisor.

The Smart Transfers feature is available only to clients enrolled in M1 plus service, which costs $125 a year and has no maximum.

European Compliance Association

European Compliance Association

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