There are many online investing platforms out there today, and the field continues to grow as companies elbow one another for new clients.
If you’ve been using the online investing app Stash, perhaps you’ve found it to be designed for people that don’t have a lot of experience.
You may be interested in taking a look at M1 Finance which ultimately puts you in the drivers seat with your investments.
Another plus: Stash charges users a monthly fee, but M1 Finance does not.
We can help make this process easy for you.
Follow the steps below to move your assets out of Stash and into M1 Finance.
In order to initiate the transfer, you will need a copy of your most recent brokerage statement from Stash.
You will have to upload this to M1 Finance later on. In addition, you will need your Stash account number which is listed on your statement.
Next, you will need to open an M1 Finance account.
Here are the requirements to open an account:
If you meet the qualifications, you can continue on to open a new M1 account.
The process is relatively straightforward and everything is handled within the app. M1 Finance will ask you for information such as your name, address, employer and social.
Your current investments from your Stash investing account to M1 Finance will be moved using an Automated Customer Account Transfer (ACAT).
Stash will charge you $75 for the transfer. This fee will be deducted from your bash balance.
When the transfer process has begun, your Stash account will be locked to prevent any transactions that may delay or disrupt the ACAT process.
