Robinhood Markets Inc.’s HOOD second quarter earnings for 2023 were a mixed bag: active users down, but assets under custody up. How do you keep a brokerage going when your user base is shrinking? You get a bigger share of their wallets, and the fattest part of most people’s wallets are their retirement savings.
Hence Robinhood Retirement – an IRA product that offers a 1% match on rollovers and new deposits that launched at the end of last year. Robinhood now has 325,000 funded accounts, up 75,000 since last quarter, according…
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