What do people think of m1 finance?

Wisebanyan been free for 2 years now. Awesome. Using it since 2 years. 80/20

The catch is likely that you are based in US dollars and given that the Chinese central bank has been the main purchaser of US stocks since 2009, i would say a US dollar correction is in the works. Your profits will go bye bye rather quickly when that happens. This is compounded by the central bank backing of crypto currencies which will supplant the US dollar as the world reserve currency.

One concern with a new company such as M1 Finance is how they will make money if they are free. Competition in this space is very fierce with established players like Betterment and Wealthfront but also from the more traditional brokers like Vanguard and Schwab who also have similar robo-advisor offerings. If M1 Finance would disappear (ex: bankruptcy), you would likely not lose any of your investments but your account would be liquidited which would likely trigger massive capital gains when it happens. Don't get me wrong, they have an interesting offering with the complete customization possibilities so definitely worth looking.

My other concern: While customization seems a good thing on paper, it could be overwhelming for many investors. Too many choices often leads to inaction (analysis paralysis). A simple offering like Betterment or Wealthfront is probably perfectly adequate for most investors anyway.