Robinhood Expands into Wealth Management with TradePMR Acquisition

The $300 million deal aims to connect Robinhood's young investors with experienced financial advisors.

Robinhood plans to acquire TradePMR, a platform for registered investment advisors, for $300 million in cash and stock.
The acquisition, expected to close in the first half of 2025, will help Robinhood diversify into the wealth management sector.
TradePMR manages over $40 billion in assets and serves 350 firms, enhancing Robinhood's service offerings.
This move positions Robinhood to compete with established brokerages like Charles Schwab and Fidelity Investments.
Robinhood's stock has surged 183% this year, reflecting investor confidence in its expanding financial services.