[dmoy]

> accounting info is held separately in APEX

So the good news is that M1 doesn't use apex for clearing anymore

The bad news is that... things got worse? After they swapped to doing clearing in house, they dropped like a month of incoming wires without reaching out at all, until I noticed on my monthly login. Turns out that they had changed the underlying wire instructions (makes sense), but sent an email saying that nothing would change on transfer instructions (not true).

Then the next month, they still dropped wires even with the correct instructions, because... ???? unknown reason. Again no contact, until I reached out and asked wtf. Third month, everything worked even though nothing was changed from the prior month.

So there's a reason why I won't put more than SIPC worth in M1 or any other new fintech. And yes, it's backend incompetence as the primary reason.

[jjmaxwell4]

I'd love to earn your business.

[TuringNYC]

I'd love to understand why this feature/product requires an entire startup. I dont mean to be dismissive -- obviously it does, as shown by my experience with Fidelity Baskets given they cannot achieve it!

Also, I used FolioFN and ShareBuilder for years to do the same and they seem to have flopped despite having a compelling product. I'd love to understand why such an obvious feature/product with sound alignment to financial recommendations cant seem to do well in the marketplace!

[dmoy]

The only thing I use M1 for is to automatically purchase a 60/40 split of VTI/VXUS with any available deposits, so if double can do that, then maybe I'll check it out. If y'all are gonna charge a monthly fee down the road though, it's probably not for me.