Ahead of its IPO, Robinhood Says It Wants to Start Offering Retirement Accounts
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Robinhood, the popular stock trading app that is set to go public later this week, is considering entering the long game: retirement accounts.
Over the weekend, just days before Robinhood's expected IPO, CEO and co-founder Vlad Tenev told would-be investors the company is seriously looking into creating a suite of account options for those looking to save for their later years. Reuters reported the news on Saturday.
The move could be a big money-making opportunity for the company. Robinhood currently has 18 million funded accounts containing almost $81 billion, according to its SEC filing, and many of its customers are younger investors who are less likely to have opened retirement accounts already.
