Reported 26 days ago
Robinhood is introducing wealth management and private banking services aimed at retail investors with modest portfolios. The new 'Robinhood Strategies' offers managed portfolios starting at a $50 investment and a nominal annual fee for premium subscribers. This move addresses the growing demand for professional financial advice among retail traders, emphasizing a shift in viewing investing as a means to secure financial independence. Additionally, the company plans to launch an AI investment tool and exclusive banking services for premium users later this year.
Source: YAHOO