M1 Finance Adds Smart Transfers Automatic Money Management Feature

Key Points:

• M1 Finance is a platform for digital investing, borrowing and banking.
• The firm launched Smart Transfers, an automatic money management tool.
• Smart Transfers lets users optimize dollars and build long-term wealth. 

Fresh off its $45-million Series C funding round led by Left Lane Capital, M1 Finance announced the launch of Smart Transfers, an automatic money management tool.

What Happened: M1 Finance is a platform for digital investing, borrowing and banking.

As part of its vision to help self-directed investors build wealth for the long-term, M1 Finance is lowering the barriers to financial wellness with Smart Transfers, a rule-based solution that allows Plus members the opportunity to move their money where and when they want it.

“We all know the steps to building a sound financial plan: save an emergency fund, take advantage of tax-advantaged retirement options, make regular contributions to a well-diversified portfolio -- the list continues,” said Brian Barnes, CEO of M1 Finance.

“But keeping up with our financial plans is extremely complex and time consuming. Smart Transfers are the answer and the next step in M1’s on-going quest to help investors optimize every dollar, build long-term wealth, and achieve financial freedom with ease and control.”

Why It Matters: In cutting down on the steps it takes to manage and follow through on financial plans, M1’s proved its commitment to automation and client empowerment.

The new tool allows users to get as specific as they would like when it comes to money management. For example, a member can set a threshold to have no less than $5,000 and no more than $7,500 in their M1 Spend Plus checking account. When either threshold is met, M1 automatically moves money between in-app accounts.

“Smart Transfers are your own personal financial assistant, automatically moving money between your M1 Spend, Invest and Borrow accounts to make sure you reach your financial goals without needing to do the heavy lifting,” added Barnes.