Robinhood Gold Member Upgrades

In partnership with

Was this email forwarded to you? Sign up here

Your job called—it wants better business news

Welcome to Morning Brew—the world’s most engaging business newsletter. Seriously, we mean it.

Morning Brew’s daily email keeps professionals informed on the business news that matters, but with a twist—think jokes, pop culture, quick writeups, and anything that makes traditionally dull news actually enjoyable.

It’s 100% free—so why not give it a shot? And if you decide you’d rather stick with dry, long-winded business news, you can always unsubscribe.

Check it out

$HOOD ( ▼ 0.53% ) released a ton of new features at their live event, many of which will wipe out a lot of startups that were building products in and around the space. What did Robinhood release that caught my eye?

• Private Banking - lot of features going after private banking. Not only checking and savings accounts plus accounts for kids, but access to CPAs and the ability to create trusts. They also released a DoorDash ( $DASH ( ▲ 0.87% ) ) for cash. No more ATMs. Do we need this feature? Maybe, maybe not. For the lazy its great. For the Degens- it makes a ton of sense. If you need cash, why go to the ATM. Order your cash just like you order your burrito, sushi, and beer.

• Robinhood Strategies- this one is going right at the wealth management space. I think it hits the robo advisors hardest and then the wealth managers that focus on smaller accounts or younger generations. The big news is no fees on AUM, but rather a cap on fees at $250. This feels like the moment when they did $0 commissions stock trades. Capping fees is unheard of in wealth management in most cases especially at $250. This is something to watch

• AI for research- cool, nice to have, lots of competition here but baking it into their app is a value add for those with Gold membership.

All in all lots of big releases at $HOOD ( ▼ 0.53% ) that is going to lead to massive flows of cash into their products. Gold Members are already getting a ton of enticing offers such as 3% match on IRA, 1$ match on any crypto you bring over, and 2% match on any brokerage accounts you transfer. The list goes on, but Robinhood is giving a ton of value for their $5 a month subscription price.

Makes you wonder how quickly does this stock become a $100B market cap!?!