2 months ago

Robinhood to Offer 1% Retirement Match

Wibbitz Top Stories
Wibbitz Top Stories
Robinhood to Offer , 1% Retirement Match.
Yahoo Finance reports that the online brokerage made the announcement on Dec. 6.
Users can now join a waitlist to access traditional or Roth IRAs with a 1% match.
Those who participate will be able to
access up to $1,000 of contributions to
invest before they settle in their account.
The offering is set to roll out in January.
I think you'll really like what the product is going to look like and the value prop for customers, Vlad Tenev, Robinhood Chief Executive Officer,
via third-quarter earnings calls.
And we're polishing it and making sure that it looks great, but we feel good about rolling it out just in time for the tax season, Vlad Tenev, Robinhood Chief Executive Officer,
via third-quarter earnings calls.
The offering comes as the retail trading boom from last year has begun to fade and the company has gone through two rounds of layoffs.
Robinhood's latest quarterly report shows that active monthly users declined by
1.8 million from the previous quarter.
Robinhood shares were down 48% year-to-date on Dec. 5