Brian Barnes is the founder and CEO of M1 Finance, a free automated brokerage offering a modern approach to managing an investment portfolio.In this conversation, we discuss building a finance super app, long term investing trends, generational differences, legacy finance platforms, and how M1 has grown so fast over the last year.=======================Polymarket is the world’s leading information markets platform where you can trade on the most pressing global questions. Choose from a variety of markets to trade: Will Trump launch a new social media platform? Will NFT trading volume continue to skyrocket? With over 100 million dollars traded in the last 6 months, Polymarket is the go-to platform to trade on the odds of future events. Think you know more than the market? Trade on your beliefs and earn a return if you’re right. Want tomorrow’s news today? Use Polymarket to see real-time data on what the market thinks will happen. No fake news, no pundits without skin in the game. So, head over to polymarket.com and make an account today with the referral code “Pomp.” Every Monday until May 10th, you can win $500 by participating in the #PolyWhale Twitter giveaway. Click on the link for more info: polymarket.co/PolyWhale=======================OKEx is a leading crypto exchange known for providing the most options for crypto traders and investors. Whether you want to trade spot, futures, options or swaps, OKEx gives you institutional-grade tools and a best-in-class trading engine. The platform offers credit and debit card funding options and supports 40 different fiat currencies, including EUR, CAD, GBP, TRY, INR and RUB, to name just a few. You can invest, trade, and earn yield, all within one place at okex.com. OKEx is not available to customers in the United States. =======================Exodus is an absolute game changer in the crypto wallet space, and we’ve teamed up to offer an exclusive discount for you, as listeners of the podcast. Sign up for Exodus today using my promo code Exodus.com/pomp. This is a no brainer for both newcomers and crypto heavyweights - go sign up today. =======================
Episode 142 - Fintech Will Be Massive - Brian Barnes, M1 Finance CEO Interview
The Joseph Carlson Show
Brian Barnes, the CEO of M1 Finance answers questions about fintech's growth, gamestop, M1 Finance feature set, and much more!Patreon: Join my Patreon! You gain access to a discord (an exclusive chatroom) where we talk about investing and stocks daily. I also show every buy and sell I do in real-time. You will also gain access to over 20 exclusive episodes, live streams, and in-depth research on companies. https://www.patreon.com/josephcarlson00:00 How much M1 Finance has grown.04:37 What is M1 Finance spending the 75 million investment on?09:08 Improving M1 Finance customer service12:29 When will M1 Finance go public, or become a SPAC?15:38 How big will fintech be?16:01 Will fintech destroy the banks?23:37 Was the criticism towards Robinhood fair?27:16 Should brokerages have more warnings?30:08 Will M1 Finance ever have options trading?34:38 Will M1 Finance offer crypto trading?37:13 What does Brian want to share about the platform.39:38 M1 Finance Credit CardDividend Portfolio: https://m1finance.8bxp97.net/e4voazGrowth Portfolio: https://m1finance.8bxp97.net/doKQaKSecond channel: https://www.youtube.com/channel/UCfCT7SSFEWyG4th9ZmaGYqQM1 Finance (broker used in video): https://m1finance.8bxp97.net/973xyInstagram: https://www.instagram.com/joecarlsonshow/Twitter: https://twitter.com/joecarlsonshowApple Podcast: https://podcasts.apple.com/us/podcast/the-joseph-carlson-show/id1469457886Have a question for me?Email me: email@example.com(I won't share your name if I use your question on the show)This show is for entertainment purposes only and not to be considered financial advice. Some of the links above are affiliate links that help financially support the channel at no cost to you.
Brian Barnes is the founder and CEO of M1 Finance, a rapidly growing platform in the wealth management industry. Join the Minority Chasers as we discuss Brian’s story, recent market news, and the future of M1 Finance. Join our discord for updates, trades, news and general discussion:https://discord.gg/n7V7Kd3Follow our podcast: Minority Chasersintro music credit: Gucci Instrumentals 2https://youtu.be/KPC5OZdv4gU
How M1 Finance's $3B AUM super-app is outcompeting Wealthfront, Robinhood, and Schwab, with CEO Brian Barnes
The Fintech Blueprint
M1 Finance bundles together roboadvisory, neobanking and lending into a single “super app”, allowing for combined pricing power (i.e., charging nothing on asset allocation). The firm currently has $3 billion in AUM, a growth of 50% in the past four months and tripling their total in just over a year. Notably, the company has its own broker/dealer and offers fractional shares, and partners with Lincoln Savings bank on the deposit accounts. That makes for a compelling business model from securities lending, interchange, and order flow.For more analysis parsing 12 frontier technology developments every week, a podcast conversation on operating fintechs, and novel food-for-thought essays, become a Blueprint member below.Subscribe nowHope you enjoy, and do not hesitate to reach out here!
M1 founder Brian Barnes on GameStop, longterm investing and crypto
Robinhood may have taken center stage in the GameStop/WallStreetBets bonanza, but plenty of finance apps like M1 Finance were impacted by the freeze on certain stocks because of clearing firms. M1's founder and CEO Brian Barnes comes back on the show to discuss the the $GME fall out, why the situation was handled so poorly, why Apex Clearing prevented stock buys on M1's platform and how the fast-paced exchange of wealth reinforces M1's mission for long-term investing. Brian also shares with Scott what will have to happen to get cryptocurrencies as the next asset class onto the platform.
292 | The Complexity in Simplicity at M1 | Brian Barnes
M1 Finance transformed Jonathan's ideas about how simple complexity could be and has quickly become his favorite investing platform, especially for taxable accounts. Brian Barnes investing story begins at the age of 10 when his parents exposed him to trading stock in a brokerage account with Ameritrade. He was captivated by the notion of investing and the intellectual puzzle of how a company was doing. His parents laid a general foundation of financial independence and security. Once basics were covered, they placed value on putting money someplace where it could accrue value, compound, and become ownership is something valuable. Getting started at the tail end of the Dot Com bust, it was a great time to be buying when prices were low and companies were valued cheaply. Brian says there is a big difference between traders and investors. Traders speculate on price and try to make money on short-term movements. Investors buy ownership in companies, asset classes, or industries to accrue value over long periods of time. When you aren't making frequent investment decisions, it becomes more about viewing your portfolio in totality and making a decision on what to do with the extra money you have leftover from your paycheck. In the trading world, you have to go in and make the same decisions to buy the same securities over and over again, but with M1, you can make the decision once and let the software automate the process. With day trading, you can't just be right once, you need to be right over and over and over again, constantly timing the market perfectly. It's difficult to predict costs even when commissions are free and it's tax-inefficient. With an investing mindset, you want to own over long periods to accrue value and generate cash flows. At the age of 25, Brian realized investing platforms hadn't changed in 15 years. He looked at consumer applications work that sought to make things simpler, more intuitive, and automated wondering why there hadn't been progress in the financial services world. He thought it would be nice if he could tell a software platform the portfolio he wanted to own, and anytime he had money, he could throw it into the platform and it just went to work. He wanted to deploy all of the money by purchasing fractional shares so there wasn't any cash drag. And finally, incredibly low fees with no commissions. As M1 has expanded, it's grown from his “wouldn't it be nice” idea to other areas like borrowing and spending, allowing users to have one financial institution instead of needing to use multiple apps. M1's philosophy is that a great product allows you to do complex things simply. What they allow customers to do is determine what share of their portfolio they want in any given investment and then the software handles the complex and mundane administrative work. It used to be that you had to buy lots of 100 shares. It was a big step forward to be able to purchase odd lots of shares. Being able to purchase fractional shares with M1 is transformational. They do this by purchasing in whole shares and adding the leftover fractions to their own inventory account. It makes it easier for the customer to deploy more money consistently and have a diversified portfolio. M1 is a commission-free platform. Traditional brokerages made 10-35% of their money from commissions. Through technology development, the cost to trade is only an electronic message. Though not free, on a per-transaction basis, it can be no-cost to the user. M1 can make money monetizing the assets held on their platform so by being efficient, they don't need to charge transaction fees, making it a win-win arrangement. M1 is not good for day traders. It's suited for systematic investing in the portfolio of your choosing. Their trade windows occur twice a day and aggregate all orders on behalf of their customers once in the morning and once in the afternoon. While you can invest money every day through M1, a good financial habit to establish is to invest the extra cash you have leftover from your paycheck every two weeks. M1 allows for that to be automated. Portfolio management in M1 orients itself around a pie concept. At the highest level, the pie is 100% of your portfolio. You can then begin to divide up the pie into slices based on what percentage of your portfolio you want in specific investments. The slices can then become their own pies. It allows for a diversified portfolio, controlling risk exposure, without the risk of becoming overconcentrated. In M1 you can rebalance your portfolio in the next trading window with the one-click button although that method is tax-inefficient. Instead, additional contributions will automatically work to rebalance your portfolio with your pies without causing taxable events. With investing, taxes are going to be your biggest fees. Minimizing taxes controls costs and maximizes long-term success. With M1's dynamic rebalancing, it tries to minimize the sale of securities with tax consequences to push taxes out as far as possible and let your money have more time to compound. Brian is a fan of Vanguard and what they have to prioritize the individual investor. The difference between M1 and Vanguard is that you can buy Vanguard ETFs with M1, but Vanguard has a mediocre brokerage to buy other securities. Compared to Vanguard, M1 offers a more robust and comprehensive personal financial platform, such as a line of credit against your securities with rates as low as 2%. M1 also has a high-yield checking account earning 1% plus 1% on debit card purchases. The smart transfer tool allows you to set parameters and have money automatically move in and out of accounts accordingly. M1 wants to be a personal finance platform where you can manage your money holistically. They just launched custodial accounts which are available with the M1 Plus membership for $125 a year which has additional benefits across Invest, Borrow, and Spend. M1 is offering a promotion to get one year of M1 Plus for free. In the last few weeks, ChooseFI CEO Ed has been migrating assets from other platforms to M1. While Brad already has an M1 account, this conversation with Brian has helped him realize what he has been missing out on. Jonathan wanted to note that with the smart transfer rules, the decumulation phase can now be as easy as the accumulation phase. Previously, Jonathan was going to get a HELOC. When he stumbled upon M1 Borrow, he realized that it was a margin loan much in the same way that a HELOC is a loan against your home. Borrow can be a liquidity tool, giving you access to 30% of your investments as an emergency fund. It gives you an incentive to build an emergency fund and keep it invested. Brian says you should be able to have a line of credit against a liquid investment portfolio at really low-interest rates. The goal for M1 Finance as the finance super app is for people to come to M1 to manage their finances, not a component of their money, as well as provide the same level of capability that a high-price team optimizing every aspect of your finances could in a self-serve product. You won't find VTSAX on M1. VTSAX is a mutual fund and M1 does not have mutual funds. What it does have are ETFs which are identical versions of mutual funds. VTI is the ETF version of VTSAX on the M1 platform. M1 also has Paul Merriman pies for anyone interested in his ultimate buy and hold portfolio. For those in the decumulation phase, M1 has IRAs, taxable accounts, and 401Ks that may be rollover into IRAs which can be set up as smart accounts using dynamic rebalancing and withdraw money in the most tax-efficient manner possible. Resources Mentioned In Today's Conversation M1 Finance-Completely Free Automated Investing! If You Want To Support ChooseFI: Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy. Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence.
On this show, we talked about how fintech is improving financial outcomes, reducing costs and creating next level financial institutions with Brian Barnes, Founder and CEO of M1 Finance, an intelligent personal finance platform. Listen to learn how you can be utilizing technology to better optimize your finances! For the Difference Making Tip, scan ahead to 17:42! You can learn more about Brian at M1Finance.com, Facebook, Twitter, Reddit, Instagram and LinkedIn. We’re honored to have been named one of the top podcasts from investing! We’re on YouTube, check us out! George is honored to be included on Investopedia's list of the Top 100 Financial Advisors for 2019! Have George speak to your organization. You can learn more about the show at GeorgeGrombacher.com, Twitter, LinkedIn, Instagram and Facebook or contact George at Contact@GeorgeGrombacher.com.
How to Invest with Knowledge, Not Emotion | Brian Barnes
You want to get in shape. So you go to the gym, maybe you take up running, and you decide to eat better. Each day you make a conscious choice to move in that direction of getting in shape. Some days you might not feel like it and maybe you take the day off or splurge on a donut, but generally, you’re moving in the right direction. Each day you’re taking a new step to help you get there.Growing your money is the same thing. As Brian Barnes, CEO and Founder of M1 Finance shares, to invest with knowledge and not emotion is about more than just the one-time decision you make and more about the steps you take every day!What You'll LearnHow to create money habits that stickHow to set up a money system that works for you (and is easy)How to create an "investing decision-making tree"How to reduce friction with your financesWhy M1 Finance is a super appWhy most people have the same needs and wants when it comes to moneyLinksM1 FinanceM1 Finance on InstagramPodcastlListener survey link - http://www.podcastlistenersurvey.com SUBSCRIBE & SHAREWant to be the first to know when new episodes are released? Click here to subscribe in iTunes! IT’S FREE!👉 Sign up for my weekly LET’S TALK MONEY email newsletter.Ask ShannahHave an Ask Shannah question, submit it hereGet SocialShannah on TwitterShannah on Instagram
Redesigning the Asset Management Experience – Brian Barnes, Founder & CEO of M1 Finance
Wharton FinTech Podcast
Miguel Armaza interviews Brian Barnes, Founder and CEO of M1 Finance, a money management platform that combines investing, borrowing, and banking into a single app. Brian launched M1 in 2015 after he felt frustrated with the tools available to manage his own money and has since grown the company into a platform that manages more than $2 billion dollars on behalf of 200k users with 75 employees. M1 has also raised over $55 million dollars in equity from backers including Clocktower Technology Ventures, Left Lane Capital, Chicago Ventures, and many more.Brian BarnesBrian Barnes is the Founder and CEO of M1 Finance. He started M1 in mid-2015 after frustrations with the tools available to manage his own money and has grown the company from an idea to a platform that manages more than $2B. Prior to M1, Brian worked as an equity researcher at a hedge fund and as a management consultant. He has a BA in Economics from Stanford University. M1 FinanceM1 Finance is a money management platform the combines the best of investing, borrowing, and banking into one easy to use app. With M1, users can automatically invest in a customizable portfolio for free, borrow against your portfolio for rates as low as 2%, and use M1 as your primary bank with an industry leading 1% APY and 1% cash back on debit card purchases. M1 manages more than $2B on behalf of 200,000 users. The company is headquartered in Chicago and has 75 employees.
Sustainability Now! | Patty Payette + Brian Barnes | Critical Thinking for Sustainability | 7-6-20
FORward Radio program archives
It’s a critical thinking love-fest on this week’s Sustainability Now! Your host, Justin Mog, sits down with two fellow programmers and UofL colleagues, Patty Payette & Brian Barnes. They are the team behind "Critical Thinking For Everyone,” heard on Forward Radio every Thursday at 5pm, midnight & 11am Friday. In addition to radio stardom, Brian is also a professor of Philosophy & Business Ethics at UofL, IUS, Bellarmine, and Spalding; and he is Director of UofL's EcoReps Program & Community Composting Project. Patty works at UofL's Delphi Center for Teaching and Learning, where she is Executive Director of the Find Your Fit program. Together, we have a rich conversation about the ways we think about and act to advance sustainability, and how critical thinking relates to the concept.Learn more about Brian’s projects at:http://louisville.edu/sustainability/operations/composting https://www.louisvillecompost.com/As always, our feature is followed by your community action calendar for the week, so get your calendars out and get ready to take action for sustainability NOW!Sustainability Now! airs on FORward Radio, 106.5fm, WFMP-LP Louisville, every Monday at 6pm and repeats Tuesdays at 12am and 10am. Find us at http://forwardradio.orgThe music in this podcast is used by permission from the fantastic Louisville band, Appalatin. Explore their inspiring music at http://www.appalatin.com