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Stock impact report

Robinhood to Launch Wealth Management & Private Banking Services [Yahoo! Finance]

Robinhood Markets, Inc. - Class A (HOOD) 
Company Research Source: Yahoo! Finance
investors looking for private banking and wealth management solutions. This was reported first by Reuters. On the private banking side, Robinhood is planning a launch rate of 4% yield (APY) for savings accounts. The company will also launch a private banking product for its “Gold” subscribers later this year, with real estate planning and tax advice. The new offerings will initially target Robinhood Gold subscribers on early access requests, with plans to extend access to all clients. A unique feature includes on-demand cash delivery, allowing customers to receive cash directly at their doorsteps, subject to geographic limitations. Clients will also be able to order checkbooks, pay bills and send international money transfers for free. In addition, Robinhood is also launching a personalized wealth management products under the brand “Robinhood Strategies,” with a 0.25% annual fee and capped at $250 for its premium 'Gold' subscribers. The offering will enable consumers to inves Show less Read more
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