Robinhood introduces a new Platinum credit card, trust and custodial accounts, enhancements to Robinhood Strategies, and more
Last night, Robinhood announced a suite of new products designed to help customers manage, grow, and protect their wealth across every stage of life. At Robinhood Presents: Take Flight, the company unveiled a new family investing experience to help households see, organize, and share all their accounts; new trust and custodial accounts; significant updates to Robinhood Strategies; a new Platinum Card from Robinhood Money; enhancements to Robinhood Gold; and more.
“Robinhood will be the financial superapp for families to invest, plan, and grow wealth across generations,” said Robinhood CEO Vlad Tenev.
Robinhood for Families
For many families, managing money today means juggling multiple apps and logins, often without a clear way to see a full picture across accounts. Robinhood is changing that today with a new family investing experience designed to bring clarity, transparency, and shared goals into one place.
With the new family hub, users can access a unified view of accounts grouped by family member, with customizable views for each account, all while keeping ownership and permissions clear.
Unlike password sharing, family hub is built around intentional access. Customers can invite another adult to join, choose which accounts are visible, and set explicit permissions ranging from view-only to full authority. Visibility doesn’t automatically mean control, and that distinction matters when managing money together.
Family hub will begin rolling out to customers later this year.
Custodial and Trust Accounts, now on Robinhood
As part of Robinhood’s increased effort to cater to families, starting today the company is rolling out custodial accounts, which will allow parents and guardians to invest on behalf of a minor, with assets legally owned by the child and automatically transferred when they reach the age of majority.
Customers can set up recurring investments and invite family and friends to contribute seamlessly with our new gifting experience – making it easier to turn birthdays, holidays, and milestones into long-term investing moments. When the new family hub launches later this year, customers will also be able to visualize these portfolios alongside all of their other accounts.
“We’re reimagining what wealth-building will look like for the next generation of families as we prepare for the Great Wealth Transfer,” said Abhishek Fatehpuria, VP of Product at Robinhood.
Robinhood also announced trust accounts, a new brokerage account type designed for customers using trusts as part of their estate planning and wealth transfer strategy. Trust accounts will allow one or more trustees to jointly manage investments held in the name of a revocable living trust, with support for equities, options, and uninvested cash.
Trust accounts will begin rolling out to eligible customers later this year.
The Next Chapter for Robinhood Strategies
A year ago at Robinhood’s Lost City of Gold event the company first announced Robinhood Strategies, it’s digital advisory service that delivers tailored, expert-managed portfolios from a team of experts directly in the Robinhood app. Since launch, Robinhood Strategies has introduced new features like instant access to external cash deposits, portfolio customization tools like single-stock restrictions, tax loss harvesting, and much more. As of today, Robinhood Strategies is now serving more than $1.5 billion in assets under management across more than 250,000 funded customers.
Today, the company is taking Robinhood Strategies to the next level, with new capabilities that reduce friction, increase transparency, and give customers more ways to grow and manage their money.
- Tax-aware transfers: Launching today, tax-aware transfers provide a guided way for customers to move existing brokerage or robo-advisor accounts into Robinhood Strategies with ease. Once assets transfer and settle, the Robinhood Strategies team will analyze holdings and tax lots, presenting clear options that balance reinvestment with potential tax impact. Customers can also customize their outcome, all with transparency and built-in support.
- More insights on returns: Robinhood Strategies was designed to help customers understand how and why their money moves so they can invest with confidence. With an all-new returns hub experience now available, customers can take a deeper look at portfolio performance over time, including what drove results, how those results compare to benchmarks, and what they mean for long-term investing.
- New account types: The company is also expanding Robinhood Strategies account offerings beyond what’s currently available, including individual accounts, traditional IRAs, and Roth IRAs. Starting today, managed custodial accounts will begin rolling out to customers, with managed trust, and multiple-managed-individual accounts coming later this year.
“We’re constantly enhancing Robinhood Strategies to make managed investing clearer and more accessible, so customers can grow and manage their money with confidence.” said Steph Guild, Chief Investment Officer, Robinhood Markets.
Introducing the Robinhood Platinum Card
Over the past year, Robinhood has rapidly expanded its product offerings through Robinhood Money. Today, the company has more than 700,000 Robinhood Gold Card customers with over $10 billion in annualized spend. Robinhood Banking is rolling out now and has more than 50,000 funded customers and over $800 million in cash deposited to date.
Today, Robinhood is introducing the next evolution of Robinhood Money: the Robinhood Platinum Card. It’s an invite-only premium credit card plated with real platinum and designed for those who want elevated benefits, with up to 5x higher credit limits than the Robinhood Gold Card.
With an annual fee of $695*, The Robinhood Platinum Card will offer over $3,000 in value per year with benefits across dining, health & wellness and travel. Here’s what customers can expect:
- Dine out or stay in: Earn 5% cash back on dining, plus a $250 DoorDash discount and complimentary DashPass Membership**
- Elevate your health and wellness: Enjoy premium perks like an Amazon One Medical Membership, complimentary Function Health Membership, complimentary ŌURA Membership, and $200 annual credit toward the purchase of health wearables**
- Travel with real returns: Earn 10% cash back on hotels and rental cars and 5% cash back on flights booked through the Robinhood Banking app. Cardmembers also receive unlimited Priority Pass airport lounge access**
- Buckle up and sit back: Cardmembers will earn a $250 annual credit on autonomous rides**
- Plus: 1% cash back on everything else and a complimentary Robinhood Gold membership**
“We built the Gold Card to be the best card for everyday spending, and customer demand showed us there was room to push the boundaries even further,” said Deepak Rao, GM and VP, Robinhood Money. “The Platinum Card offers higher limits, elite rewards and luxury benefits, and raises the bar for what customers should expect from a premium credit card.”
New Robinhood Gold Perks
Robinhood is leveling up what it means to be a Robinhood Gold member.
To celebrate the company’s tenth anniversary of Robinhood Gold, it’s rolling out Gold Rewards, a suite of new perks that will give Robinhood Gold customers exclusive access to rewards and experiences typically reserved for high net-worth individuals.
Robinhood Gold members can soon access a rotating suite of rewards that will refresh regularly, including:
- Premium ticket drops: Access exclusive drops for tickets to the world’s most coveted events and once-in-a-lifetime experiences.
- Crypto gifts: Claim a full crypto coin, courtesy of Robinhood Gold, from a selection of top traded assets on the platform, including favorites like ETH, DOGE, and BTC.
- Partner perks: Unlock exclusive perks and limited-time benefits from premium food service brands and more.
- The Gold Collection: Shop a curated collection of exclusive products and experiences, from gold bars to branded items only available for purchase by Robinhood Gold customers.
Other Highlights from Take Flight
Robinhood is not stopping there. Today the company also announced:
- Early Dividends: Rolling out by April, customers can receive dividends from major U.S. stocks up to 1 month before the official payment date, getting earlier access to cash and more time in the market.
- Portfolio overview: Track all your accounts on Robinhood, including your accounts at other brokerages. See a breakdown of your investments by account type and also the diversification of your assets across your accounts, from one unified place. Portfolio overview is rolling out now to all Robinhood customers.
- Robinhood Market: A new curated storefront featuring official Robinhood apparel and accessories, bringing our brand beyond the app and into the real world. Live today at shop.robinhood.com.
HOOD Rewards Season is In-Flight
To celebrate Take Flight, now through March 25, eligible Robinhood customers can participate in HOOD Rewards, a series of limited-time promotional drops, including a Robinhood Gold-exclusive sweepstakes featuring life-changing prizes – from home down payments and student loan payouts to gold bars. Every eligible deposit counts as an entry.***
For all eligible Robinhood customers, the company is also offering transfer bonus promos, including a 2% match on eligible assets moved to Robinhood for Gold members (1% for non-Gold), with even higher bonuses available on qualifying margin transfers, and a 2% crypto deposit match on eligible crypto transfers, with no cap.
