Robinhood to acquire TradePMR for $300 million to boost advisory business

📆 11/19/2024 7:31 AM
📰 ChannelNewsAsia

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Retail trading platform Robinhood Markets will acquire portfolio management platform TradePMR in a cash-and-stock deal for about $300 million, the companies said on Tuesday.

FILE PHOTO: The logo of Robinhood Markets Inc is seen at a pop-up event on Wall Street after the company's IPO in New York City, U.S., July 29, 2021. REUTERS/Andrew Kelly/File Photo

Over the past few months, Robinhood has unveiled a credit card, launched a desktop trading platform, added futures and index options trading and rolled out contracts for betting on the U.S. presidential election. The TradePMR acquisition, expected to close in the first half of 2025, will help Robinhood's customers find and connect to registered investment advisers .

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