An investing platform founded by a 25-year-old went free — and now it's facing a backlash from its rivals
from Business Insider
Chicago-based investing startup M1 Finance made a bet that it could become a financial services juggernaut by charging its users nothing to use its platform. Now, some larger players in the automated investing space are criticizing the move. M1, which was founded by CEO Brian Barnes when he was 25, originally charged users 25 to 40 basis points to use its platform, which allows users to buy fractional stocks and invest in pre-built portfolios.
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