How to best set it and forget it?
I've been looking at moving some money into a 3/4 fund portfolio from wealthfront, which has actually done well the last few years. I was originally planning to use M1, but many recommend to instead stick with the big guys (Vanguard, Schwab, Fidelity).
But I cannot for the life of me find the best way to set up an M1 like portfolio or auto-rebalancing on deposit in any of them. I can set a percentage and rebalance, I can do it manually, but I don't want to. It's almost 2023!
Things to note are that this is a taxable account. I'd also like to ensure that I can borrow against the investments at a good rate, and M1 seems to have the best rate.
Aside from the $100 to move funds out, is there a reason to not use M1?
Posted Dec 24, 2022, 9:32 PM UTC
17
I prefer M1 for the reasons you describe, plus the smart transfers and the low interest margin, but you can do pretty much all of the rest and more at Fidelity now with Fidfolios.
I thought they were charging $30 / month and a $300 starting fee though
I don’t know about the starting fee but compare the $30/month to the fully-featured M1 at $125/yr. I still prefer M1 but there is something to be said for the track record of the bigger companies. Plus there’s a lot more at Fidelity: joint banking, trade at any time, SEP IRA and 529, treasuries and brokered CDs, zero fee mutual funds. I see a strong case for either
Is this 30/month for borrowing or is that on a standard account? Hoping not the latter.
Oh wait, that must have been for a different product. It's $5/mth. Much more reasonable