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Written by Ryan Scribner on November 9, 2023
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How To Transfer From Webull To M1 Finance 2024

Transferring your brokerage account to M1 Finance is simple, with the seamless and intuitive process they offer.

Whether you're looking to migrate an entire brokerage account or shift your IRA, M1 Finance simplifies the process through a series of user-friendly steps.

To ensure a smooth transition, here is a step-by-step guide on how to transfer your brokerage account to M1 Finance effortlessly.

In this guide, we will show you how to transfer from Webull to M1 Finance, step by step - specifically.

Check out my video on how to transfer your brokerage account below, let's dive in!

What Assets Can You Transfer

M1 Finance supports 6,000+ stocks and ETFs that are listed on NYSE and the NASDAQ exchanges.

However, M1 does not support options trading at this time. You will need to sell your options before making the transfer.

Make sure to carefully consider the tax implications!

One final note, you must pay off any Webull margin balance and make sure your account is in "good standing" before transferring your assets to M1.

Learn More: Robinhood Retirement 3% Match

Robinhood is a popular "all-in-one" investing app.

While they are most well-known for their commission free stock trading, they've recently shaken up the Retirement Investing World too.

Introducing Robinhood Retirement; home of the biggest IRA match on the market.

Robinhood IRA Boost

Here's what you need to know:

  • Robinhood offers 2 types of retirement accounts - the Roth IRA and Traditional IRA
  • All Robinhood investors will get a 1% Match on what they Contribute or Transfer
  • Robinhood Gold members will get a 3% Match - the biggest on the market

And don't worry, this comes with a Portfolio Builder Tool. You don't have to construct your investment portfolio from scratch if you don't want to.

Lastly, you'll even get a free stock worth up to $200 when you open a new Robinhood account using our link.

Best Free Stock Promotions

Robinhood Logo1 Free Fractional Share Worth Up To $200Learn More
Webull LogoEarn Up To 75 Free Fractional SharesLearn More
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1. Open An Account With M1 Finance

The first step in the transfer process is to create an M1 Finance account.

Keep in mind, the account type you are looking to transfer needs to match the account type you open with M1 Finance.

2. Gather Information From Webull

Look at your most recent Webull statement and organize the necessary information, which includes your account number and account type. 

M1 will need these details to process the transfer. In addition, they may ask you to upload a copy of the statement, so be sure to download a copy. 

3. Account Type Compatibility

Before initiating the transfer process, ensure that you have an open account with M1 Finance that matches the specific account type you're transferring.

For instance, if you're transferring a Roth IRA, it must be directed to an M1 Roth IRA Account.

4. Access "Move Money" Tab

Once you've confirmed the compatibility, navigate to the Home tab within your M1 Finance account.

m1 finance direct deposit

Look for the "Move Money" option and click on it to proceed with the transfer process.

5. Select "Transfer From Another Brokerage"

Within the "Move Money" section, opt for the "Account Transfer" feature, which serves as the starting point for initiating the transfer process.

6. Choose Transfer Type

To kick off a full brokerage account transfer, select the appropriate option based on your specific needs and account type.

m1 finance transfer account type

7. Specify Originating Brokerage

Choose the brokerage from which you're transferring your account - which is Webull in this case.

transfer brokerage account to m1

8. Provide Account Details

Enter the account number of the brokerage account you intend to transfer into your M1 Finance account.

m1 finance enter account number

Ensuring the accuracy of this information is crucial for a successful and smooth transfer process.

9. Select Receiving M1 Invest Account

Choose the specific M1 Invest Account that will receive the transferred funds.

transfer account to m1

10. Confirm Your Transfer

After reviewing the details, click the "Continue" button to confirm and initiate the transfer process.

You'll receive a confirmation email shortly after submission.

Transfer Fees

Keep in mind that Webull collects a $75 fee for an account transfer.

Article written by Ryan Scribner
Ryan Scribner is the Co-Founder of Investing Simple and author of the personal finance book ‘From Side Hustle To Main Hustle To Millionaire’ (available on Amazon and at Barnes & Noble). He is recognized as a Top 100 Money Expert by GoBankingRates. Ryan Scribner runs a successful YouTube channel focused on money and investing, which he started in 2016. Scribner was exposed to the finance world early on with a dad who is a financial advisor. Before he started his YouTube channel, he was working and making a surplus of money which he began investing on his own. Then he started to document it on his YouTube channel, before launching the Investing Simple blog in 2018. Ryan Scribner has used his own experiences with money to show others what he’s done to be successful so that they can learn from it. He has been featured in The Wall Street Journal in a publication on The Financial Gurus Millenials Listen To. In addition, Ryan Scribner has been featured in MarketWatch, Business Insider and Forbes - where he was recognized as the #1 Must Watch YouTube Channel For Making Money.

Read more

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Get 1 Free Stock Worth Up To $200 From Robinhood!

Don't Miss This Opportunity!

Investing Simple readers can claim a free stock from Robinhood worth up to $200 when they open a brokerage account and deposit any amount.

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