Platform Comparison

Ellevest vs M1 Finance

Compare Ellevest and M1 Finance on fees, DRIP, fractional shares and research for dividend investing.

EL

Ellevest

★3

Ellevest discontinued its robo-advisor service in February 2025—existing accounts were transferred to Betterment. Private wealth management continues for $500K+ clients.

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Higher Rated
M1

M1 Finance

★4.7

The ultimate set-it-and-forget-it platform with pie-based portfolios, automatic rebalancing, and free dividend reinvestment.

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Ellevest vs M1 Finance: Fees, Minimums & DRIP Compared

FeatureEllevestM1 Finance
Our Rating3/54.7/5
Trading CommissionsN/A$0
Account MinimumN/A$100
Fractional SharesN/AYes
DRIPN/AFree + Smart
Research ToolsAutomatedBasic
Best ForHigh-Net-Worth WomenHands-Off Dividend Investors

Ellevest vs M1 Finance: Pros and Cons

Ellevest

Pros

  • + Private wealth management still available ($500K+ minimum)
  • + Existing robo clients transitioned to Betterment (solid alternative)
  • + Betterment offers similar features with good reputation
  • + Historical focus on women's financial needs was innovative
  • + Career coaching services continue separately

Cons

  • - Robo-advisor service discontinued February 2025
  • - Regular investors can no longer open new accounts
  • - $500K minimum for remaining wealth management services
  • - Transition to Betterment may not suit all former clients

M1 Finance

Pros

  • + Commission-free trading on stocks and ETFs
  • + Unique pie-based portfolio system for easy allocation management
  • + Dynamic rebalancing automatically invests new deposits into underweight positions
  • + Fractional shares let you invest any dollar amount
  • + Three dividend reinvestment options including true DRIP

Cons

  • - Limited trading window (9:30 AM EST only, 3 PM with premium)
  • - $3/month platform fee if account balance under $10,000
  • - No options, mutual funds, bonds, or forex trading
  • - Customer service limited to weekday market hours only

Which Is Better for Dividend Investors: Ellevest or M1 Finance?

Choose Ellevest if you...

  • Are in Ellevest's core audience: high-net-worth women

Choose M1 Finance if you...

  • Are in M1 Finance's core audience: hands-off dividend investors
  • Prefer a higher-rated overall platform

Want the full breakdown of fees, DRIP, and research tools? Read our Ellevest review and M1 Finance review.

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Investment Disclaimer

Investing involves risk, including possible loss of principal. Past performance does not guarantee future results. This content is for informational purposes only and should not be considered investment advice.