 Bye-bye M1 what's up money geeks mr v here welcome to another video guys so in today's video we're going to take a look at how to transfer your assets from M1 finance to webo so before we get started guys if you're new to the channel we talk about how to earn money how to save money how to invest and build wealth so if that's something that interests you go ahead and hit that subscribe button any notification bell so you don't miss out on new content so in the past guys actually did a video on how to transfer your assets from Robinhood to webo so i'm going to hook that video up here so you can definitely go check it out so today we're looking at how to transfer assets from M1 finance to webo i know you're probably just like but why mr v M1 finance is so great why are you leaving let me explain the reason why i'm transferring my my stocks from M1 finance to webo uh number one is because webo gives me an opportunity to earn interest with my stocks so i did a video about the webo stock lending program if you haven't already checked it out i'm gonna hook it up here so let me explain a little bit about the program so when you buy your stocks and you're holding them long term if you enroll in the stock lending program what webo does is they lend out the stocks and then collect interest from investors that borrow the stocks and then they share that interest with you so not only are you getting your growth or you're getting your dividends getting paid but you're also getting interest from your stocks that are being lent out and the good thing is it's not like the stocks are being lent out there you have any risk of losing them no the stocks are still your stocks you can sell them whenever you want so if you choose to sell them right now when the market is open you can definitely go ahead and sell them and that's it you're out of the program so it's not like your stocks are at risk of anything so um here hey we talk about earning money so this is an opportunity for me to end money and add another level of money ending so if i have our a stock that i bought low when it grows i'm getting growth from that stock right it goes from let's say ten dollars to twenty dollars if it's a dividend stock i'm getting paid dividends either monthly or quarterly right and then add another level of gains to that particular stock if webo uh lend out that stock you get interest paid to you so if meaning you have the same stock same amount of stocks you have your portfolio in m1 i have mine in webo you would get growth you'll get dividends i'll get growth i'll get dividends but i'll get interest from lending out my stocks and you will not get it so i want to take advantage of that as a matter of fact i'm enrolled in the program and i'm going to do a separate video showing you guys how much i'm made by just enrolling my stocks in the program i have about 50 different stocks in m1 finance so i'm anticipating that if i move all of that into webo i'm going to make a really good amount of interest monthly and the interest is actually paid monthly which is awesome so um so let's jump on the computer and i'm going to show you uh step by step how to transfer from m1 finance to webo um so you're going to need three things obviously you're going to need your m1 finance account um you're going to need a webo account if you don't have a webo account i'm going to put a link in the description definitely check it out so if you sign up for webo you get two free stocks not one two so the first one value between two dollars and and two hundred and fifty dollars and the second one is between twelve dollars and fourteen hundred dollars so if you don't have a webo account i'll put them in the description below so definitely go check them out so let's jump on the computer and do some transfers into um webo this is a very easy process guys so log into your webo web um platform and then go under uh transfer stocks once you go on the transfer stocks the first thing that you want to do is um select um your account type so if you have multiple accounts it's going to show up um on the way say choose receiving account that you that would be the webo account that you want the the stocks to go into the next thing is that you choose your broker so here if i choose a broker in this case i want to choose m1 finance um it's just going to show up there and then the delivery account type it's individual so it means by individual if you have a joint account that's going to be an issue so you want if it's you're coming from an individual account from uh m1 finance you want to put it in an individual account in in webo so once you choose that then the next thing it would be so the individual account type the next one would be your delivery account number so this is where you have to go into m1 finance so we go into m1 finance if you go under um your account settings you go on the accounts and then you're going to see your account number so your account number is going to be right there copy the account number um and then so copy the account number and bring it over to bring it back over to webo and then enter the account number in in webo once you enter the account number um it's going to ask you if you want to do a partial you want to do a full transfer so in my case um i'm doing a full transfer i'm not doing a partial transfer and then you acknowledge what you that you you you're okay with them going and so if your portfolio is um is over two thousand dollars um webo would pay your transfer fee which is awesome but if your portfolio is less than two thousand dollars and then that transfer fee is going to be on you so once you have that the next step you do is just click um submit so submit transfer and then webo is going to ask you for confirmation and then when you confirm that you're transferring the account and then the next thing is that process is just going to start and and then um you're going to get notification through email that webo has initiated the process of importing your or transferring your assets from um m1 to webo which is which is awesome so um then at that point that's it all you have to do is just wait um it usually takes between three to seven business days when i did my robin hood it took about i think about three or four business days um but you should be very careful during this process please don't execute in an m1 finance don't place any trades in m1 finance because it's going to delay the process so that's that's it guys that's just how simple it works webo is going to do their thing behind the scenes and next thing you know all your stocks are going to be over in in webo and you start earning some interest um the reason why i'm transferring is not because i think m1 finance is a bad platform no it's an excellent platform that's just a i i think where i am right now my maturity as an investor m1 finance doesn't make the need um i'm looking for an opportunity where if i see the market moving moving down i can jump right in sell some stocks wait to go down i can buy right back m1 finance doesn't give me that options um i can trade extended hours if i hear something happening with a company they something new is coming out um i can trade extended hours i can buy that asset early in the morning before the market's even open which um m1 finance doesn't provide that for me and again i get interest earned on my stocks that i hold in in in in webo that uh m1 finance doesn't provide for me so that's the reason but if you're just a starter if you're just looking um where you can put your money and just let it ride that you don't worry about buying and selling and balancing your portfolio and all that good stuff m1 finance is definitely the spot for you but for me i'm mature enough for to the point where m1 finance doesn't make my need so that's why i'm out of here so question of the day guys what do you think about m1 finance do you think it's like an excellent platform what do you think mr v webo is the bomb let me know in the comment section again guys don't um if you don't have webo i said i have a link in the description below that's i'm gonna affiliate with webo so definitely use that link get yourself two free stocks again one between two and two hundred fifty dollars and the second one between twelve and fourteen hundred dollars definitely clean it so um as always guys like share subscribe youtube tells me that 90 percent of you guys watching haven't already subscribed to my channel so definitely go ahead and hit that subscribe button and as always stay motivated