TechFlow news, on November 19, according to Bloomberg, Robinhood Markets Inc. announced it will acquire investment advisory service platform TradePMR for $300 million in cash and stock. The deal is expected to close in the first half of 2025. TradePMR currently oversees more than $40 billion in assets. Following the acquisition, its registered investment advisors (RIAs) will gain access to Robinhood's customer base, and the entire TradePMR team will join Robinhood. This move is seen as a key strategic step for Robinhood to compete against traditional financial giants like Charles Schwab and Fidelity in the fiercely competitive retail investing landscape.
Add to Favorites
Share to Social Media
