Robinhood (HOOD, Financial), the American online brokerage firm, announced its plan to acquire TradePMR, a provider of brokerage and custody services, for $300 million. This strategic move aligns with Robinhood's venture into the wealth management sector, aiming to integrate the expertise of trust advisors with its cutting-edge technology.
The acquisition is expected to be finalized in the first half of 2025. This initiative reflects Robinhood's broader strategy to diversify its offerings and enhance its service capabilities by merging with a company that shares a similar mission.
