Robinhood Markets, Inc. has entered into an agreement to acquire TradePMR, a custodial and portfolio management platform for Registered Investment Advisors (RIAs).
Final deal consideration is expected to be approximately $300 million, subject to customary purchase price adjustments, consisting of a mix of cash and stock.
The acquisition is expected to close in the first half of 2025, subject to customary closing conditions, including regulatory approvals.
With over 25 years in the industry and over $40 billion in assets under administration, TradePMR will enhance Robinhood’s offering for customers by delivering an RIA custody and portfolio management platform that connects financial advisors to a new generation of investors.
This strategic acquisition brings together…
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