Latest news with #StephGuild
Yahoo
28-03-2025
- Business
- Yahoo
Robinhood pushes into banking with 4% APY savings account, launches wealth management
Robinhood made its name as a stock trading app but, in recent years, the company has been making a concerted push to become a full-fledged financial services firm akin to Fidelity or Charles Schwab. On Wednesday, it took another step toward that goal by announcing Robinhood Banking, a service that provides "traditional checking and savings accounts with luxury benefits," as well as a wealth management product called Robinhood Strategies. According to Steph Guild, a former JPMorgan executive who is president of Robinhood Asset Management, the company's goal is to fill a gap in the current wealth management landscape—one that is marked by pricey investment advisors on one hand and low-cost generic robo-advisors on the other. In practice, this will entail Robinhood using AI to offer active portfolio management to its customers that goes beyond what the low-end advisors currently offer. Features include personalized portfolio displays as well as personalized notes delivered via written and audio messages in the app. Guild says the offering is especially timely given recent market volatility, and that active management means investors can more quickly get exposure to assets on an upswing. She cited Chinese tech stocks and European equities as recent examples. The most noteworthy aspect of Robinhood's new wealth management service may be the cost, which is 0.25% and is capped at $250 per year for those who subscribe to the company's Gold service. On the banking side, Robinhood is planning a debut rate of 4% yield (APY) for savings accounts, and a novel feature that will deliver cash directly to a customer's door if they don't wish to go to an ATM. Customers will also be able to order checkbooks, pay bills, and send international money transfers for free. "We will have everything a legacy bank does," said Deepak Rao, VP and GM of Robinhood Money, adding that Robinhood Banking will not come with the limits of so-called neobanks, which typically do not offer checks and certain other services. Meanwhile, the banking service will also offer special perks like the opportunity to buy tickets to events like the Oscars, the Met Gala, and the F1 Grand Prix Monaco. As part of the banking launch, which is set for this fall, the company will rebrand its existing secondary app known as Gold—which currently serves as a hub for its credit card—as Robinhood Banking. The company announced the banking and wealth management plans as part of its second annual Gold keynote event. Robinhood also used the occasion to tout an impending AI-driven stock research tool known as Cortex and the popularity of its high-rewards Gold credit card, which is made of 10-karat gold and weighs twice as much as other cards. The latest announcements come a week after Robinhood launched a foray into prediction markets, which let users wager on the outcome of real-world events. This story was originally featured on
Express Tribune
27-03-2025
- Business
- Express Tribune
Robinhood to offer wealth management and private banking for everyday investors
Listen to article Robinhood is stepping up its game in the financial services space, rolling out wealth management and private banking offerings aimed at retail investors with smaller portfolios. The move signals the trading platform's ambition to shape user financial behavior beyond trading, offering tools traditionally reserved for high-net-worth clients. The company on Wednesday unveiled 'Robinhood Strategies', a new wealth management service exclusively for its premium Gold subscribers. The service charges a modest 0.25% annual fee—capped at $250—and allows users with just $50 to access expert-managed portfolios of exchange-traded funds. Those investing $500 or more will also gain access to individual stocks curated by Robinhood's in-house investment team. Steph Guild, President of Robinhood Asset Management and a former JPMorgan Chase executive, said the platform is filling a gap in the market. 'When we looked across the landscape today, we felt there was a gap and an opportunity,' she said, adding that the service aims to level the playing field for everyday investors. The initiative reflects a growing demand for accessible financial planning tools. A 2023 survey by Betterment found that retail investors who had access to financial advisers reported significantly higher confidence in managing their finances. In addition to wealth management, Robinhood is set to launch a private banking service for Gold users later this year. The offering will include estate planning, tax advice, and luxury perks such as tickets to the Met Gala and the Oscars. The push into premium services is part of Robinhood's broader strategy to 'democratize' financial tools once limited to the wealthy. 'We're not going after someone who has $10 million. We're going after everybody else,' said Deepak Rao, general manager and vice president of Robinhood Money. An AI-powered investment tool is also in the pipeline for 2025, which will offer real-time market analysis and insights—another nod to Robinhood's efforts to bring institutional-grade features to everyday users. The expansion comes as Robinhood's stock has climbed 29% so far this year, bucking broader market trends. The Nasdaq Composite (.IXIC) has declined by 5.4% over the same period.
Zawya
27-03-2025
- Business
- Zawya
Robinhood to bring wealth management, private banking to retail investors
Robinhood is rolling out wealth management and private banking services for investors with modest portfolios, as the trading platform looks to have a bigger influence on its users' financial habits. The company said on Wednesday it is launching 'Robinhood Strategies' — a wealth management service with a 0.25% annual fee, capped at $250, for its premium 'Gold' subscribers. Users with as little as $50 in investments can access portfolios of exchange-traded funds managed by Robinhood's investment experts. A $500 minimum investment will unlock access to individual stocks in the portfolios. The move highlights growing demand for professional advice among retail traders, who are increasingly seeing investing as a strategic path to building wealth and securing financial independence, rather than just a hobby. A survey of retail investors by Betterment last year showed that those with financial advisers felt more confident about their personal finances. Robinhood Asset Management President Steph Guild, a JPMorgan Chase alum, said the new product could help level the playing field as personalized wealth management has long been the domain of high-net-worth clients. "When we looked across the landscape today, we felt there was a gap and an opportunity," she said. It will also roll out an AI investment tool later in 2025 to provide real-time market analysis and insights. PRIVATE BANKING The company will also launch a private banking product for its Gold subscribers later this year with estate planning, tax advice and perks such as tickets to the Met Gala and the Oscars. Tapping into users' demand for premium services could help it boost the adoption of its Gold subscription — which costs $5 a month or $50 a year — and fits into Robinhood's strategy of "democratizing" access to products traditionally reserved for the ultra wealthy. "We're not going after someone who has $10 million. We're going after everybody else," said Deepak Rao, general manager and vice president of Robinhood Money. The company's shares have risen 29% so far this year, while the Nasdaq composite index has dropped 5.4%. (Reporting by Niket Nishant and Manya Saini in Bengaluru; Editing by Sahal Muhammed) Reuters
Reuters
27-03-2025
- Business
- Reuters
Robinhood to bring wealth management, private banking to retail investors
March 26 (Reuters) - Robinhood (HOOD.O), opens new tab is rolling out wealth management and private banking services for investors with modest portfolios, as the trading platform looks to have a bigger influence on its users' financial habits. The company said on Wednesday it is launching 'Robinhood Strategies' — a wealth management service with a 0.25% annual fee, capped at $250, for its premium 'Gold' subscribers. Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here. Users with as little as $50 in investments can access portfolios of exchange-traded funds managed by Robinhood's investment experts. A $500 minimum investment will unlock access to individual stocks in the portfolios. The move highlights growing demand for professional advice among retail traders, who are increasingly seeing investing as a strategic path, opens new tab to building wealth and securing financial independence, rather than just a hobby. A survey, opens new tab of retail investors by Betterment last year showed that those with financial advisers felt more confident about their personal finances. Robinhood Asset Management President Steph Guild, a JPMorgan Chase (JPM.N), opens new tab alum, said the new product could help level the playing field as personalized wealth management has long been the domain of high-net-worth clients. "When we looked across the landscape today, we felt there was a gap and an opportunity," she said. It will also roll out an AI investment tool later in 2025 to provide real-time market analysis and insights. PRIVATE BANKING The company will also launch a private banking product for its Gold subscribers later this year with estate planning, tax advice and perks such as tickets to the Met Gala and the Oscars. Tapping into users' demand for premium services could help it boost the adoption of its Gold subscription — which costs $5 a month or $50 a year — and fits into Robinhood's strategy of "democratizing" access to products traditionally reserved for the ultra wealthy. "We're not going after someone who has $10 million. We're going after everybody else," said Deepak Rao, general manager and vice president of Robinhood Money.
Yahoo
18-02-2025
- Business
- Yahoo
How to adjust your retirement strategy as you age
There are many things to consider when laying out your investment strategy. Figuring out your risk tolerance and time horizon are some of the first steps, but what comes next? In this episode of Decoding Retirement, Robert "Bob" Powell speaks with Steph Guild, Robinhood Senior Director of Investment Strategy, about how to balance competing demands such as paying off your debt and saving for certain goals including retirement. What's the best advice for people who are behind on their savings goals? Find out in this week's episode of Decoding Retirement. Balancing debt and saving (:40) How should you balance your debt payments and saving for your goals? "You can deduct student loan payments from your income." Differentiating gambling and investing (8:00) What's the difference between gambling and investing? "The answer to this question is time." Advice for people behind on saving (13:45) What are some ways to catch up on your savings? "You only have the present so just get started." Video highlights: :40 - Balancing debt and saving 3:20 - Decoding time horizon 5:40 - Decoding risk tolerance 7:40 - Differentiating gambling and investing 10:50 - How to allocate your money 12:10 - Why it's important to save early 16:10 - How to balance competing demands Retirement planning doesn't mean locking up your money for a rainy day and forgetting about it. Planning your future means reacting to events today. Decoding Retirement gives you the tools to navigate the years ahead, and take action now! Yahoo Finance's Decoding Retirement is hosted by Robert Powell, and produced by Austin Rivera. Find more episodes of Decoding Retirement at Thoughts? Questions? Fan mail? Email us at yfpodcasts@ Sign in to access your portfolio
