M1 Holdings

What M1 Holdings does

M1 Holdings (formerly M1 Finance) operates a unified personal finance platform that combines self-directed brokerage, cash management, and lending for individual U.S. investors. Founded in 2015 and headquartered in Chicago, the company operates through four wholly-owned Delaware subsidiaries — M1 Finance LLC (SEC-registered broker-dealer, FINRA/SIPC member), M1 Spend LLC (banking services), M1 Digital LLC (cryptocurrency access), and M1 Advisory Services LLC — and serves over 1 million users with more than $12 billion in client assets as of September 2025. The core product is a commission-free brokerage featuring a proprietary "Pie" portfolio system in which users compose allocations of stocks, ETFs, and cryptocurrencies that are automatically deployed and dynamically rebalanced toward target weights, supported by Auto-Invest, dividend reinvestment, and trade windows aligned to long-term investing rather than active trading. Adjacent offerings include a 3.10% APY high-yield cash account (FDIC-insured up to $4.75 million across a 20+ partner-bank network), margin loans of up to 50% of portfolio value at a 5.65% standard rate, personal loans, retirement accounts (Traditional, Roth, SEP IRAs), trust and custodial accounts, and cryptocurrency trading via Bakkt.

The company pursues a product-led growth go-to-market with no sales force, distributing through self-serve web and native iOS/Android apps (4.7 and 4.5 app store ratings respectively), supported by content marketing, calculator-based lead generation, and a $75 referral program. M1 is venture-backed, having raised approximately $323 million cumulatively across rounds from investors including SoftBank Vision Fund 2, Coatue, Left Lane Capital, Clocktower Technology Ventures, and Chicago Ventures, with the $150 million Series E led by SoftBank in July 2021 representing its largest round. Revenue mechanics rely on a monthly platform fee (waived for accounts above $10,000 or with active loans/joint cash), net interest spread on sweep deposits and margin lending, and ancillary regulatory and account-service fees; the model is structurally net-interest-income-led rather than transaction-fee-led.

Name

M1 Holdings

Legal name

M1 Holdings Inc.

Website

https://m1.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

101–250 employees

Short description

M1 Holdings operates a self-directed personal finance platform offering commission-free brokerage, automated portfolio management, high-yield cash accounts, margin lending, and crypto trading to over 1 million U.S. retail investors managing more than $12 billion in client assets.

Ownership category

akta.pro rank

Product category

Digital Wealth Management

NAICS

Portfolio Management and Investment Advice (52394), Portfolio Management and Investment Advice (523940)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Digital Brokerage & Self-Directed Investing Platforms (FSAGAEAC)

akta.pro secondary industries

Goal-Based & Micro-Investing Platforms (Round-ups, Fractional) (FSAGAEAG), Execution-Only / Self-Directed Investing Platforms (FSAAAAAI)

Keywords

• Digital wealth management
• Commission-free brokerage
• Automated investing platform
• High-yield cash accounts
• Portfolio margin lending

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Platform Fees: Monthly platform fee charged to clients who do not meet program requirements. Waived for accounts with $10,000+ invested balance, active personal loan, or joint cash account with qualifying partner.
2. Margin Loan Interest: Interest charged on margin loans borrowed against investment portfolios. Standard rate of 5.65% annual percentage. Variable rate tracking federal funds rate. Interest deducted monthly from cash balance or added to loan balance.
3. Interest Spread on Cash Accounts: M1 earns interest spread on cash held in High-Yield Cash Accounts. Cash is swept to FDIC-insured partner banks. M1 passes through APY to clients while earning spread on deposits.
4. Regulatory and Miscellaneous Fees: Fees for regulatory compliance activities, account closure, ADR fees, and other account services. Detailed in M1 Fee Schedule.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

M1 operates a unified personal finance platform providing commission-free self-directed investing, automated portfolio management via the proprietary Pie system with Dynamic Rebalancing, high-yield cash and savings accounts, margin lending against portfolios, personal loans, and cryptocurrency trading. The platform serves over 1,000,000 individual investors managing $12B+ in client assets, accessible 24/7 via web and mobile applications with no sales force required.

Product overview

M1 Holdings operates a unified fintech platform combining brokerage, banking, and credit services. The core offering is M1 Invest, a self-directed brokerage platform for automated, long-term investing featuring customizable Pies, Dynamic Rebalancing, and Auto-Invest. This is complemented by M1 Earn products including High-Yield Cash Accounts (3.10% APY) and High-Yield Savings Accounts via B2 Bank NA. M1 Borrow provides Margin Loans (up to 50% of portfolio at 5.65%) and Personal Loans. The platform also supports Crypto trading through Bakkt, retirement accounts (Traditional/Roth/SEP IRA), Trust Accounts, and Custodial Accounts. Account transfer services use ACAT for seamless migrations, while Plaid handles bank authentication. M1 charges no commission or management fees but applies a monthly platform fee for accounts below $10,000 balance.

Differentiator

Problem solved

Functional benefit

Products and services

• M1 Invest (Brokerage) Self-directed brokerage platform offering commission-free trading of U.S.-listed stocks and ETFs with automated investing, dynamic rebalancing, and customizable Pies for long-term portfolio management. Supports Individual, Joint, Custodial, Trust, Traditional IRA, Roth IRA, and SEP IRA accounts for individual self-directed investors.
• M1 High-Yield Cash Account Interest-bearing cash management account earning 3.10% APY on uninvested cash balances, FDIC-insured up to an aggregate of $4.75 million through a network of 20+ FDIC-insured partner banks (Citizen's Bank NA, Morgan Stanley Bank, Western Alliance Bank, HSBC Bank USA, Truist Bank, etc.). Available as Individual and Joint Cash Accounts with a $100 minimum initial deposit.
• M1 High-Yield Savings Account Traditional savings account furnished by B2 Bank NA, Member FDIC, offered and serviced by M1 Spend LLC. (Temporarily pausing new accounts as of available information.)
• M1 Margin Loans Portfolio line of credit allowing customers to borrow up to 50% of eligible securities' value at a 5.65% standard interest rate (variable, tracking the federal funds rate). No paperwork or credit check required. Available on Individual/Joint Brokerage and Trust Accounts with $2,000+ invested balance. Promotional rate reductions of 1.50%-1.66% available for eligible clients.
• M1 Personal Loans Personal loans for debt consolidation, home improvements, medical expenses, and other purposes. Furnished by B2 Bank NA, Member FDIC, and serviced by M1 Spend LLC as a wholly-owned operating subsidiary of M1 Holdings.
• M1 Crypto Account Cryptocurrency trading account offered through Bakkt platform integration (via M1 Digital LLC, a wholly separate affiliate from M1 Finance LLC). Supports BTC, ETH, XRP, SOL, ADA, LINK, BCH, SUI, AVAX, HBAR, LTC, DOT, AAVE, POL, and crypto-related ETFs. Bakkt handles purchase, sale, execution, and custody of cryptocurrencies; Apex Clearing provides cash access.

Quantifiable outcome

• Automated investing reduces time spent on portfolio management while maintaining target allocations
• +3 more outcomes

Segments4 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration13 records

Feature5 records

Partnerships

Four partnerships are on record, tiered core.

• Bakkt Financial Solutions I, LLCcoreTechnology or IntegrationBakkt provides cryptocurrency trading services for M1 users through M1 Digital LLC. Users can access cryptocurrency accounts including Bitcoin, Ethereum, and other supported coins. Bakkt handles purchase, sale, execution, and custody of cryptocurrencies. Apex Clearing provides access to equities and holds cash for Bakkt Crypto accounts.
• Apex Clearing CorporationcoreTechnology or IntegrationApex Clearing Corporation serves as M1's clearing firm for most account types (except Individual Brokerage Accounts cleared through M1 Finance). Apex holds cash and securities for client accounts, provides clearing services, and handles directly registered share transfers ($115 fee per holding).
• B2 Bank National AssociationcoreTechnology or IntegrationB2 Bank NA, formerly known as The First National Bank of Buhl, furnishes M1 High-Yield Savings Accounts and Personal Loans. B2 is a nationally chartered bank purchased by M1's CEO in fall 2021. M1 Spend LLC services these products as a wholly-owned operating subsidiary.
• FDIC-Insured Partner Banks (Deposit Network)coreTechnology or IntegrationM1's High-Yield Cash Account sweep program partners with multiple FDIC-insured banks including Citizen's Bank NA, Morgan Stanley Bank, Western Alliance Bank, HSBC Bank USA, Truist Bank, and others (full list of 20+ banks). Deposits are FDIC-insured up to $4.75 million aggregate per customer across all participating banks.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Robinhood Markets: Public commission-free self-directed brokerage with automated investing, retirement accounts, cash management, and crypto. Closest direct competitor to M1 — same PLG model, same self-directed retail target, similar integrated product stack, though Robinhood offers active/intraday trading while M1 restricts to two daily windows.
• Betterment: Leading robo-advisor offering automated portfolio management, retirement accounts, and cash management. Direct peer in the automated/self-directed wealth space; Betterment leans more advisor-recommended while M1 is more self-directed, but both target long-term retail investors with low fees.
• Wealthfront: Automated investing and cash management platform offering goal-based portfolios, retirement accounts, and high-yield cash. Directly comparable to M1 on the robo-advisory and automated rebalancing axis, with similar commission-free and low-fee positioning.
• Public.com: Commission-free self-directed brokerage with social/community features, fractional shares, and crypto. Direct competitor targeting similar self-directed retail investors; differs in offering active/intraday trading and a social investing layer.
• Interactive Brokers: Discount/self-directed broker offering low-cost trading, margin lending, and comprehensive account types. Comparable to M1 on brokerage execution and margin, though more oriented to active/advanced traders than M1's long-term-only audience.

Broad incumbents

• SoFi Technologies: Public fintech super-app combining investing, banking, lending, and crypto with a much broader product portfolio (student loan refi, mortgages, credit cards). Overlaps with M1 across invest/earn/borrow/crypto but at materially larger scale and with active trading plus bank charter.
• Charles Schwab: Massive incumbent broker with zero-commission trading, automated investing (Schwab Intelligent Portfolios), retirement accounts, and banking. Competes for the same self-directed retail customer but with vastly greater scale, branch network, and brand trust.
• Fidelity Investments: Incumbent broker with zero-fee retail brokerage, IRAs, robo-advisory (Fidelity Go), and cash management. Direct functional competitor to M1 in self-directed long-term investing, especially in the retirement and cash account categories.

Emerging players

• Acorns: Micro-investing and subscription-based savings app focused on round-ups and beginner investors. Adjacent competitor for the entry-level automated investing segment; less direct overlap but targets a similar self-directed retail demographic.
• Stash: Subscription-based self-directed investing app with fractional shares, retirement accounts, and banking. Comparable to M1's lower-balance segment and self-directed onboarding, though at smaller AUM scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/M1_Finance
• Facebookfacebook.com/m1finance
• LinkedInlinkedin.com/company/m1-finance
• Instagraminstagram.com/m1_finance

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries4 records

Funding overview

Funding rounds7 records

Investors10 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about M1 Holdings