How do you make money?
Yes. Please add details about this on the site. Without them I feel skeptical.
Show HN: M1 Finance – Automatically invest in what you want, for free
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Re: Show HN: M1 Finance – Automatically invest in what you want, for free
#12Hello HN! I lead the team at M1 Finance responsible for designing and building our product. M1 is an automated brokerage that allows you to easily invest in a custom portfolio on our web site or mobile apps. Whenever you deposit or withdraw money, we automatically calculate and execute the trades for you. Your money is invested down to the penny using fractional shares. For the investor, we think robo-advisors don’t…
What are some of the "other sources of revenue" that you're planning on rolling out in 2018?
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Re: Show HN: M1 Finance – Automatically invest in what you want, for free
#13How do you make money?
Yes. Please add details about this on the site. Without them I feel skeptical.
Good question, we of course need revenue to serve our customers and grow. The short answer is that brokerages can make money from the assets held in their accounts and from handling customer trades. And compared to legacy brokerages, being digital-first allows M1 to minimize costs and offer our investing service without commission fees.
Our founder and CEO goes into more detail about our sources of revenue in this blog post: https://blog.m1finance.com/m1-is-now-free/. (Look for the section "How We’ll Make Money".)