Financial services company Robinhood has introduced a comprehensive suite of features to enhance its wealth management portfolio.
The suite comprises Robinhood Strategies, Robinhood Banking, and Robinhood Cortex.
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Robinhood Gold members now have access to services traditionally reserved for high-net-worth individuals, including private wealth management and private banking.
Robinhood Strategies, the standout feature, offers customised, expert-managed portfolios with zero management fees on investments over $100,000 for Gold members.
The Robinhood Strategies team leverages their combined over 50 years of Wall Street experience to provide tailored investment advice and portfolio management.
The service is designed to align with individual financial goals and includes a diverse mix of ETFs and single stocks, offering transparency and regular market updates.
With a low annual management fee capped at $250 for Gold members, Robinhood Strategies presents an affordable wealth management solution.
The service includes a range of features such as an interactive portfolio, in-app market insights, and tax-efficient strategies. Robinhood Strategies is available now for Gold members and will roll out to all customers in April.
Robinhood chairman and CEO Vlad Tenev said: “Our goal is for Robinhood to give you a world-class financial team in your pocket, with cutting-edge tools you can’t find elsewhere.”
Robinhood Banking, set to launch later this year, will extend the private banking experience to Gold members, offering traditional checking and savings accounts with luxury benefits.
Members can expect a high Annual Percentage Yield on savings, access to estate planning, and professional tax advice, along with exclusive perks such as event tickets and luxury travel services.
Finally, Robinhood Cortex, an AI-powered investment tool launching later this year, promises to deliver real-time market analysis and insights.
In June 2024, Robinhood agreed to acquire Bitstamp, the global cryptocurrency exchange founded in 2011, with offices in Luxembourg, the UK, Slovenia, Singapore, and the US.
