how’s it going everybody welcome back to the channel my name is Jay and I’ve got exciting news today well exciting to anyone like me who uses M1 Finance to invest because
today M1 Finance announced they have finally fixed their worst and most annoying feature if you remember back to the in-depth review I did on the M1 style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance
only took about a year of people complaining and nudging them saying hey this should be different but we got there they fixed it and that’s right you can finally move slices between pies without creating a taxable event if you’re new to M1 style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance
ETFs or whatever you want to invest in and you organize them into pies these pies you set the percentage allocation how you want each individual investment invested in and then as you invest as
you add more money to your M1 Finance Portfolio M1 does all the hard work and invests your money so that your Investments stay at those percentages you set
you don’t have to worry about going in and rebalancing and buying and selling things the problem came in is a lot of people myself included has more than one pie inside their M1 Finance
Portfolio if we look at my past passive Income Portfolio I have on M1 Finance I have my original top four dividend passive
Income ETFs in one piie and then I have three secondary dividend ETFs
that were laid additions to this Portfolio in a separate pie now up to this point if I wanted to move an investment from one piie into the other even though they’re in the same account M1 text-decoration: none;">Finance would actually sell my Shares of that investment in one pie and then Reby them in the second Pi in the same account now you can see how that was a problem and an annoyance to many M1 color: #1a73e8; text-decoration: none;">Finance users because the selling of those Shares creates a taxable event when all you’re really doing is reorganizing how your Portfolio is structured within your account so I’m very happy that M1 href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance has fixed this feature now let’s take a look at how it’s going to work now an important disclaimer right now as I record this CashNews.co this feature is not yet rolled out to all M1 Finance users so if you don’t see it in your account yet don’t panic also at the current time it’s only available on the web platform so that means you have to log in on a desktop or laptop computer in order to get this feature they’re going to roll it out to mobile eventually I don’t have a time frame on that right now also if you like this CashNews.co and you’re as happy about this feature as I am give this CashNews.co a thumbs up down below help it spread to other people who may not be aware that M1 Finance is fixing their major issues okay so now how how will the moving slices Feature work in M1 href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance first and foremost it won’t create a taxable event anymore you will be able to move slices between pies in your account but if you have multiple accounts at M1 href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance you won’t be able to move slices from one account to another account that will still require buying and selling just as it would in any other Brokerage so to move slices between your M1 Finance pies first you go under the invest Tab and you see that a little pie chart of your Holdings that’s right there on the page go down and click the edit button under that select the slice of that pie the individual investment that you want to move out of that pie and into another pie in your accounts and hit the move button that will bring up a drop- down menu of your available pies just click the one you want to move it to and then readjust Portfolio percentages in that pie that you’re moving the slice to obviously moving the slice in you’re going to have to readjust things because the total Pi has to equal 100% if your Pi doesn’t equal 100% m1’s not going to allow you to save any changes and move forward next you’re going to have to do the same thing you’re going to have to update the percentages of the pi because moving that slice out of that Pi is creating a deficit in there and you got to move around the percentages to get that back up to 100% as well once you’ve done all that click continue M1 will bring up a confirmation page showing all the changes you just made in your Portfolio so you’ll see all the percentage changes you just made and the Investments you’re swapping from one pie into another if all that looks good to you click confirm and you’re done it’s a simple and easy process which is why it was so frustrating that they didn’t have this to begin with but it’s finally here and will hopefully be available to us all very shortly now a couple more important notes some things you may run into or questions you might have if you want to move the slice or slices out of one pie into a brand new pie in your same Portfolio your first going to have to create that second pie and save it in your Portfolio so there’s somewhere to move it to with this process you can’t just go in select move and then create the new Pie as you’re moving you got to do that part beforehand also if any point along the way in that process you change your mind decide yeah I don’t really want to do this I don’t want to make these changes click cancel as long as you do that before that final confirmation screen you’re fine none of the changes will be saved and obviously if you have a pending by your sell on the slice you’re trying to move or if you have a pending rebalancing of your Portfolio through the M1 rebalance feature you’re not going to be able to move the slice until that trade or that rebalancing is completed and if you’re using one of M1 text-decoration: none;">Finance’s expert pies they’re pre-built pre-allocated pies they have available you can’t move slices out of their expert pies unfortunately and very important if you have a pie that you’re using in multiple M1 href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance accounts say you have the same pie in your Roth IRA and your taxable account at M1 none;">Finance if you do the move slices feature out of that pie in one of the accounts it’s going to change that pie in every account that you’re using that pie in so say you want to make the change only in your Roth IRA account unfortunately messing with that pie and moving that slice out in your Roth IRA is going to trigger the change in that same pie in your taxable account and may trigger a taxable event there so if you do use the same pie across multiple accounts just be cautious be careful before you make any changes like that and if you’re not using M1 href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance yet now there is definitely no reason not to if you are a long-term Buy and Hold investor check out my link in the description below if you want to sign up for M1 href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance if you don’t why you watching this CashNews.co anyways with that said I hope you enjoyed this CashNews.co I hope you enjoy that feature that M1 href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance rolled out God knows I’ve been waiting for it thanks as always for watching and I’ll catch you in the next CashNews.co
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Does that change the value of the stock after move?
I notice that when a slice is moved, when sorting by time range “all”, the performance stats are from the day it was moved, rather than the original date. Is there a way to get it back to the original date?
I just accidentally sold my ALL my Tesla stock by trying to move it!
Put the % to zero , thinking it would allow me to move it to another pie!
But it now says it will be sold 😭
The video is a black screen all I can hear is your voice can’t see anything
about damn time
Great video. Is there anyway to only add shares of a specific stock within the Roth IRA? I have $Meta as 1% in my Roth IRA and would like to add more shares of just meta to my Roth instead of everything together. Is there a way to buy in Roth without adding to all slices?
M1 sucks – no one to answer any questions. And you're so right, moving a stock from one pie to another it will sell it and rebuy it.
It's natural for people to see you and say "Stu" right? 😂
So I’m starting to investing my money I have Acorns and Stash (thinking about dropping them for M1) how easy is it to invest with M1.
When will this feature be roll out to all users?
Yo, they gotta fix that debit card. Does not have tap and pay feature.
I created a pie but it wont let me save unless I add a new stock into that pie. It wont allow me to move a current stock into it? any feedback?
What is the difference between investing in an ETF in Robinhood and the same ETF M1 finance Roth IRA?
It was really easy to move them by just specifically selling and buying into the dif pies, but this helps it be more obvious in the UI
M1 is not ready for prime time. They need you to buy and sell so they can make money they don't really care about your tax consequences.
I have been a user for about 6 months now. I'm glad that they have this feature now because I was thinking about this 2 months ago how am I going to move stocks around in my different accounts I have.
Another annoying feature I just noticed. I spent the entire night setting up my account and getting positions where I want them. I dollar cost every week and and I have positions where I don't want to contribute anymore so I set them to 0% just to hold on to them and I find out and M1 sold all those positions. I assume they make money on the churn so that's why they don't allow you to hold on to stocks either buy eor sell so they can make money. It seems M1 is not a brokerage for the long term buy and hold investor.
not working for me yet….oh well, whats a few more days when you have been waiting years?
It won't resent my cost basis? So Jay, you're telling me that I can't adjust my cost basis or have M1 Finance give me a refund on my -69.420% YTD return?!?!
Falls off chair… but oh boy, am I going to be busy tonight.
FINALLY! AT LONG LAST! The one feature we OG M1 Finance users have been asking for for a couple years or more. One use I can see for it is for holdings that I don't like enough to keep contributing to but don't hate enough to sell. Create a new 1% Pie in my Portfolio, then move the unloved holdings to this new 1% Pie to reduce the risk of new contributions.
Great news, thanks for the heads up. Now I can make some moves…I love updates that’s going to make life easy.
Hallelujah