Robinhood Taps TradePMR to Expand RIA Wealth Network

Robinhood built its franchise around self-directed trading, but its customers increasingly need advice as their balances and financial lives grow more complex. The company agreed in November 2024 to buy TradePMR, a custodial and portfolio-management platform for registered investment advisers, for about $300 million, giving it a route into wealth management. The strategy pairs Robinhood’s large, younger retail base with TradePMR’s adviser relationships, technology and high-touch service, while helping keep maturing client assets within the broader Robinhood ecosystem.

The deal closed on Feb. 26, 2025, when TradePMR served roughly 350 RIA firms and administered more than $40 billion. Robinhood Advisor Network is now targeting participating RIAs with at least $500 million under management and clients holding at least $250,000 in investable assets; advisers pay Robinhood 25% of gross revenue from referred accounts. TradePMR is also pitching tailored pricing, its Fusion technology platform and a Wells Fargo clearing option extended through 2032. Access to Robinhood’s roughly 27 million funded accounts is intended to accelerate adviser client acquisition and lift assets on the platform.