Robinhood has announced its acquisition of TradePMR, a portfolio management platform with $40 billion in assets under management. The move will allow Robinhood to offer personalized financial advice through registered investment advisors (RIAs) to its 24 million accounts, primarily comprised of Millennials and Gen Z users. The acquisition is part of Robinhood's strategy to tap into the $90 trillion wealth transfer from Baby Boomers to younger generations. TradePMR's Fusion platform will be integrated into Robinhood's app, enabling customers to manage their self-directed investments and managed assets in one place. The deal, expected to close in early 2025, follows Robinhood's previous acquisitions of Bitstamp and Pluto Capital.



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