Robinhood (HOOD) made its name as the go-to app for everyday investors looking for a simple way to trade the stock market.
Now, it wants to be the app those same investors use to manage the money they build through investing.
With the launch of its new suite of wealth management tools last week, Robinhood is stepping directly into the territory of the big legacy banks where customers don’t just invest but stay for everything else.
The new offerings include Robinhood Strategies, a robo-advisor that “delivers tailored, expert-managed portfolios directly in the app.”
Coming later this year is Robinhood Banking, which promises private banking-style services — like estate planning, pro tax advice, and checking and savings accounts. Robinhood describes it as “delivering cutting edge features historically reserved for the ultra-wealthy.”
Also on deck is Robinhood Cortex, an AI-powered assistant that will deliver real-time market analysis and insights.
“High-quality, premium investment and market analysis has historically been reserved for institutional investors and the rich,” said Abhishek Fatehpuria, VP of Brokerage Product at Robinhood.
“Over time, Robinhood Cortex will completely transform the Robinhood experience as we strive to bridge that gap and put a premium research assistant right in your pocket.”
All three services will be part of Robinhood Gold, its premium subscription.
Capturing investors early in their wealth journey
One of the biggest advantages Robinhood brings to this space is pricing.
It’s keeping fees low, which removes the barrier that usually keeps individuall investors out of wealth management services until they’ve already built up significant assets.
That means Robinhood could lock in long-term clients before most Wall Street firms would even consider working with them.
Robinhood Strategies will charge a 0.25% management fee — far below the traditional 1% charged by full-service advisors.
Varshika Prasanna, a research associate at ARK Invest, sees Robinhood’s latest move as part of a broader shift: “digital wallets transforming into financial superapps.”
Robinhood is part of a new wave — including Coinbase, SoFi, and Block — collapsing once-siloed services like checking, credit, investing, and crypto into unified, software-native ecosystems, she wrote.
That shift is turning standalone financial products into a single, vertically integrated experience.
“In our view, digital wallets are well-positioned to disrupt incumbent institutions by driving higher engagement, lowering acquisition costs, and redefining consumer money management,” Prasanna added.
“As the category matures, digital wallets could become the new super apps for personal finance.”
Shares of HOOD are up 14.7% year-to-date and have jumped 120.2% over the past 12 months.
In addition to its upcoming banking features, Robinhood already offers brokerage, crypto, and wealth management services.
“Bottom line, the scope of products introduced exceeded our expectations,” Piper Sandler analyst Patrick Moley wrote last week. “We think their introduction will drive strong net deposit growth for Robinhood in the coming quarters and years.”
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