- Brokerage Accounts (Individual, Joint),
- Retirement Accounts (Traditional, Roth, SEP IRAs), and
- Trust Accounts.
Please find additional information on each account type below. To open an account, click here.
- Individual Brokerage Accounts - An account used to buy and sell stocks, bonds, exchange traded funds, and other types of investments.
- Joint Brokerage Accounts - An account used to establish equal ownership. Joint accounts are used by couples, parents and their children (over 18 years old), and adults caring for aging parents.
An Individual Retirement Account (IRA) - A type of retirement savings account that allows for tax benefits in saving for your retirement. At M1 Finance you can open a Traditional, Roth, or SEP IRA. Learn more about M1's IRAs.
Traditional IRA - A tax-advantaged account designed to help people save for retirement. Contributions are generally made with after-tax money but may be tax-deductible if you meet income eligibility. Any potential earnings grow tax-deferred and are not taxed until you withdraw them after age 59½. Read more about Traditional IRAs on the IRS website.
Roth IRA - A tax-advantaged savings account that provides federally tax-free growth and distributions once it has been open for 5 years and you are at least 59½ years of age. Contributions are made with after-tax income. Read more about Roth IRAs on the IRS website.
Simplified Employee Pension (SEP) IRA - A retirement savings account for self-employed individuals or small business owners. A SEP IRA has a higher contribution limit than a Traditional or Roth IRA. At this time, we only support SEP IRAs for self-employed individuals.
To open an account:
IRA rollovers - To transfer an existing IRA into an M1 IRA, you can find IRA transfer instructions here.
- 401K Rollover into IRA - Lean how to roll over an existing 401K into an M1 IRA here.
- A custodial account – An account that a custodian sets up for the benefit of a minor. The funds in the account are considered an irrevocable gift until the minor reaches the age of majority.
To open a trust account:
- Trust accounts can be set up in M1 via our paper account opening process. When you select "trust" as your desired account type in our sign up process, we will send you a set of forms that you will need to fill out and return to us.
- As soon as the trust account application is processed, you will be able to manage your account on the platform in the same way you would a typical M1 taxable brokerage account.