Robinhood Nears Debut of Retirement Accounts Within App
- Company working to add IRA, Roth IRA and pension accounts
- Work on new feature appears in beta version of iPhone app
Photographer: Tiffany Hagler-Geard/Bloomberg
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Robinhood Markets Inc. is nearing the launch of retirement accounts, according to evidence found inside of the company’s iPhone app, part of a bid to challenge traditional money managers and stock-trading platforms.
The company -- best known for commission-free trading of stocks and crypto -- has begun adding support for traditional IRA and Roth IRA retirement accounts, as well as pension accounts. Underlying code inside of a beta version of the Robinhood app was updated this week to include several references to the retirement accounts, according to findings from developer Steve Moser that were shared with Bloomberg.