Robinhood is expanding into wealth management by launching its “Robinhood Advisor Network.” This marks a shift toward serving higher-net-worth clients through a marketplace model.

Rather than building an in-house advisory unit, the company is connecting eligible users with independent Registered Investment Advisors (RIAs). The structure signals a clear focus on affluent clients.

The service will initially target Robinhood users with at least $250,000 in investable assets, while participating advisory firms must manage at least $500 million in assets under management and operate on the TradePMR platform.

Building on the TradePMR Acquisition

The launch builds on Robinhood’s acquisition of TradePMR, a custodian and technology provider for RIAs. Through that deal, Robinhood gained access to a network of more than 350 advisory firms overseeing over $40 billion in client assets.

The concept of a referral marketplace was central to the TradePMR acquisition. In a recent post marking one year since joining Robinhood, TradePMR founder Robb Baldwin described the Advisor Network as a phased rollout designed to connect eligible investors with independent RIAs while preserving advisor autonomy.

The structure suggests Robinhood is positioning the network not as an in-house advisory arm, but as a distribution layer that gives independent firms access to a large, mobile-first client base.

A Broader Revenue Mix

The Advisor Network reflects a gradual shift in Robinhood’s business model. Historically reliant on transactional revenue from trading activity, the firm is moving toward recurring, fee-based revenue streams tied to wealth management.

The expansion also places Robinhood in closer competition with established wealth platforms such as Charles Schwab and Fidelity. By combining self-directed trading with advisory services, the company is broadening its role within clients’ financial lives.

The rollout will begin with a pilot for Robinhood employees, followed by a wider launch for eligible customers in the second quarter.

This article was written by Tanya Chepkova at www.financemagnates.com.

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