Payroll connectivity solutions provider Atomic has joined forces with M1 Finance, an innovative wealth management platform, to improve direct deposit capabilities for automated investing and saving.
Through the collaboration, Atomic’s deposit solution has gone live on M1’s Invest and Earn products, allowing users to automate payroll deposits directly into their investment portfolios or cash accounts.
Atomic co-founder and CEO Jordan Wright said: “This collaboration is about making consistent investing seamless and intuitive.
“By automating regular contributions into high yield cash and investment accounts through M1’s Earn and Invest products, we’re helping individuals steadily build a nest egg that supports their long-term financial goals. With M1’s focus on total control and automation, users can fully leverage these tools to secure their financial futures.”
Established in 2015, M1 Finance offers a comprehensive suite of wealth-building tools with a focus on automation and long-term growth. The firm allows self-directed investors to earn, invest, spend, and borrow all on one financial platform.
Currently, the wealth management platform oversees $10n in client assets.
The partnership enables M1 Invest clients to manage personalised portfolios with access to 6,000 stocks and exchange-traded funds (ETFs).
The platform leverages Atomic’s Direct Deposit Switching (DDS) integration to directly deposit their payroll funds into high-yield cash or investment accounts.
Besides, M1’s Auto-invest feature allow the payroll funds deposited through DDS to automatically build investment positions and rebalance portfolios according to clients’ target allocations.
The streamlined process provides a seamless, no-touch investing experience, supporting strategies such as dollar-cost averaging and compounding returns, while also enabling access to one of the market’s highest APYs on cash balances.
M1 Invest General Manager Ryan Burke said: “Our partnership with Atomic marks a significant advancement in our efforts to provide comprehensive tools and features for our clients to more efficiently manage their wealth on our platform.
“By facilitating direct deposits into our Invest and Earn products, we’re empowering clients to directly allocate and automate investments in their portfolios with consistency and with confidence.”
The DDS integration with Atomic reflects M1’s commitment to providing clients with “total control, total automation for your wealth today and tomorrow,” said the company.
This partnership with Atomic is expected to amplify M1’s capabilities, positioning it as a solid choice for consumers looking to simplify and enhance their financial management.
