The platform is introducing new financial features designed to compete with legacy institutions, following the same path initiated by some major investment firms
Robinhood is rolling out a suite of private banking and wealth management products, announced Wednesday during the company’s second annual Gold keynote event.
The launch includes a managed investment service, an AI tool for market insights, and a private banking product with tax, savings, and estate planning features.
According to Stephanie Guild, President of Robinhood Asset Management and a former executive at JPMorgan Chase, the goal is to fill the gap between high-cost financial advisers and generic robo-advisors.
“When we looked across the landscape today, we felt there was a gap and an opportunity,” she said.
The move marks a major strategic shift as the company seeks to compete with established financial giants like Fidelity and Charles Schwab.
New wealth management service offers entry at $50
Robinhood’s new wealth management offering, Robinhood Strategies, provides access to professionally managed portfolios for investors starting with just $50.
The service charges an annual fee of 0.25%, capped at $250, and is exclusively available to members of the company’s Gold subscription tier.
Users investing at least $500 can access portfolios that include individual stocks in addition to exchange-traded funds (ETFs), all managed by Robinhood’s in-house investment team. The goal is to offer a more accessible, tailored alternative to traditional advisory services.
Guild noted that market volatility reinforces the need for active portfolio management, saying the new offering helps users “more quickly get exposure to assets on an upswing”, and citing Chinese tech and European equities as recent examples.
Robinhood also plans to launch a new AI-powered investment tool, Cortex, in 2025. The platform will deliver personalized updates, portfolio insights, and real-time market commentary via written and audio formats within the app.
According to Guild, the tool is designed to go beyond basic automation, aiming to deliver “active management” insights in a format tailored for individual investors.
Private banking to include estate tools and concierge-style perks
Later this year, Robinhood will introduce a private banking product tailored for Gold subscribers.
The offering will include access to estate planning, tax support, and high-yield savings, delivering features typically reserved for high-net-worth clients.
Among the planned banking tools are traditional services such as checkbook access, international money transfers, and bill payments, along with a 4% APY savings account.
Notably, users will also have the option to receive physical cash deliveries to their homes, bypassing the need for ATMs.
The company will rebrand its current Gold app to Robinhood Banking as part of the launch, aiming to offer “everything a legacy bank does”, according to Deepak Rao, Vice President and general manager of Robinhood Money.
“We’re not going after someone who has $10 million,” Rao said. “We’re going after everybody else.”
As presented in the Wednesday keynote, the new service will provide “traditional checking and savings accounts with luxury benefits”, such as buying tickets for the Oscars, the Met Gala, and the Formula 1 Grand Prix in Monaco.
