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Written by: RJ
M1 Finance has sent account holder notice that there will be a monthly fee coming in May. Accounts without a personal loan or balances under $10k will be charged a $3 monthly fee. This is in exchange for M1 Plus becoming fee free, with the features being open to all account holders.
M1 is about to get better, Ryan!
We’ve decided to end our M1 Plus membership program. Our premium features will no longer require membership and will instead be available to everyone who builds and manages their wealth on M1.Starting May 15, a $3 monthly platform fee will apply to clients with less than $10,000 in M1 assets or without an active Personal Loan. Each billing cycle will last 30 days—meeting platform requirements* at least one day during each cycle will ensure this fee is waived for you.
Based on your current M1 assets as of March 15, 2024, your account will be subject to the monthly platform fee.
When we make this change, your remaining subscription credit will be put toward the $3 monthly fee, and your existing Plus features will simply be platform-wide:
Thoughts
Guess we hit them a bit too hard on the last round of referrals.
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Good thing the recent bonus requires 10K balance in the account to get.