Robinhood to acquire managed investing platform TradePMR for $300 million
Robinhood Markets Inc. has agreed to acquire custody and investment portfolio management platform TradePMR. This move is aimed at attracting a wider range of wealthy investors to the online brokerage. Robinhood said in a statement that the deal, involving about $300 million in cash and stock, is expected to be completed in the first half of next year. Through this acquisition, registered investment advisers at TradePMR will be able to reach Robinhood's customers, who will also be able to easily connect with registered investment advisers (RIA).
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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