I might be prescient!
Some friends (including the one who gave me the gangbusters ENPH recommendation I didn't really take full advantage of) and I had been talking about how we both used Swell back when I started using it, and so yesterday I sent this to them.
Hey friends.
Because we talk about investment things some, I wanted to let you know that I decided to close out the Swell account and move the money to an m1finance account. It's not a managed account, so it doesn't take the 0.75% that Swell does, and since Swell, by managing the account isn't making better returns than just the overall market, I figured, it wasn't worth paying them 0.75% on top of that. m1finance functions the same for me. It's an account I can deposit money into regularly, and it buys stocks and bonds for me. The difference being I decided for myself which stocks and bonds. Mostly solar ones.
Anyways: It's here: https://mbsy.co/wNjqc
I think it's ridiculous that I find myself feeling, well inspired isn't exactly the right word... refreshed? by a free brokerage, but their blog post legit makes me feel like, "yeah, as long as capitalism is a thing, it's gonna have a lot a free ways for other places to make money off your money, so it might as well be free to me to let them" https://www.m1finance.com/blog/m1-is-now-free/
So... yeah. I decided to start quitting Swell yesterday, and today in my inbox I got this.
Our journey began as a mission that every dollar you invest would have a positive impact on the world. Together, we built a product that allows you to invest in companies innovating to solve global challenges.
While we’re incredibly proud of what we’ve accomplished together, Swell was not able to achieve the scale needed to sustain operations in the current market. As a result, we will be closing and our last day of operations will be August 30, 2019. Beginning Wednesday, July 24, Swell will no longer be accepting new clients or deposits, and any accounts with a $0 or negative balance will be closed.
Additional information about how this impacts you can be found at goodbye.swellinvesting.com and investors will receive an additional email about next steps managing their account.
We’re grateful to our investors for believing in Swell. While we cannot continue the journey with you, we hope you will continue to support companies working towards positive social and environmental change.
PRESCIENT.
Anywhoodles. Yep, that's my referral code: https://mbsy.co/wNjqc
You should sign up right away! We both get $20 if you sign up and fund your account in July!
Also, if you want to race with my wife and I, you could set your recurring investments to be the same as us: $100/month + $25/week
And obviously, if you're on Swell and didn't see this, well, head on over and make your best decision about what to do with your Swell account! (I rolled mine it into an M1FInance account ;))
NOT FINANCIAL ADVICE
