The Offer
- M1 is offering a brokerage bonus of up to $10,000. The amount you receive depends on the amount you transfer:
- $250 bonus when you transfer $50,000 – $249,999
- $1,000 bonus when you transfer $250,000 – $499,999
- $2,000 bonus when you transfer $500,000 – $999,999
- $4,000 bonus when you transfer $1,000,000 – $1,999,999
- $10,000 bonus when you transfer $2,000,000
The Fine Print
- Promotion Period: December 27, 2022 (12:00 AM EST) through February 28, 2023 (11:59 PM EST).
- During the Promotion Period, this promotional offer is valid for new and existing M1 customers who successfully complete an Automated Customer Account Transfer Service (“ACATS”) of at least $50,000 in aggregate (“Transfer Account Value1”) during the Promotion Period (the “Winter Promotion”). The appropriate M1 account must receive instructions to complete an ACATS prior to expiry of the Promotion Period. Any unsuccessful ACATS will be deemed ineligible. This offer is non-transferable, and not valid with any of the following: (i) internal transfers, (ii) ACH deposits (bank transfers), (iii) wire transfers, or (iv) direct 401(k) rollovers.
- Cryptocurrency is not eligible for ACATS. Additionally, any security transferred via ACATS that is not traded by M1 will be liquidated, including but not limited to Mutual Funds and Over-The-Counter securities.
- If you satisfy the aforementioned conditions, M1 will make a one-time deposit into the cash balance of your M1 taxable investment account equal to the applicable Promotional Credit2 based on the aggregate Transfer Account Value1 (see table below) on December 5, 2023 (the “Payout Date”), however, the following accounts are ineligible to receive any Promotional Credit: any retirement, custodial or trust accounts. The “Transfer Account Value” is determined as the current market value of all holdings and cash transferred during this Promotion Period, in aggregate, on the day the transfer is completed to the qualifying account which must remain equal to, or greater than, the value after the net deposit was made (minus any losses due to trading, market volatility or margin debit balances) at time of the Payout Date. Reallocation of any Transfer Account Value funds transferred for this Winter Promotion either externally, or internally to any other M1 services (e.g., M1 Spend), prior to the Payout Date will disqualify you from the Winter Promotion. The Promotion Credit deposited by M1 is a fixed cash value and does not constitute stock or any other security, nor is it a recommendation to buy any specific stock or other security. M1 Finance may charge the account for the cost of the offer at its sole discretion. M1 reserves the right to restrict or revoke this offer at any time. This is not an offer or solicitation in any jurisdiction where we are not authorized to do business.
Our Verdict
Looks like funds need to be kept in the account until December 5, 2023. Previously the tiers were much more attractive. I’d recommend doing one of the better brokerage bonuses available.
Hat tip to Fred