🔥Robinhood ($HOOD) to acquire TradePMR
Robinhood has agreed to acquire TradePMR, a platform for Registered Investment Advisors (RIAs), to enhance its investment advisory capabilities. TradePMR brings in a scaled RIA platform with over 350 firms and $40 billion in assets under administration. The acquisition aims to cater to evolving customer needs by offering top-ranked RIA custody and portfolio management services. By uniting Robinhood's technology with fiduciary advisors, the acquisition targets providing financial advice tailored to individual goals. Additionally, the deal includes plans to build a referral program for RIAs and enhance technology platforms to connect with Robinhood customers. The transaction is expected to close in the first half of 2025, subject to customary conditions and regulatory approvals.
👉Read here
Robinhood has agreed to acquire TradePMR, a platform for Registered Investment Advisors (RIAs), to enhance its investment advisory capabilities. TradePMR brings in a scaled RIA platform with over 350 firms and $40 billion in assets under administration. The acquisition aims to cater to evolving customer needs by offering top-ranked RIA custody and portfolio management services. By uniting Robinhood's technology with fiduciary advisors, the acquisition targets providing financial advice tailored to individual goals. Additionally, the deal includes plans to build a referral program for RIAs and enhance technology platforms to connect with Robinhood customers. The transaction is expected to close in the first half of 2025, subject to customary conditions and regulatory approvals.
👉Read here