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Robinhood CEO says he is considering offering U.S. retirement accounts


By Syndicated Content
By Echo Wang and Krystal Hu
(Reuters) – Robinhood Markets Inc is considering launching U.S. retirement accounts, CEO and co-founder Vlad Tenev said on Saturday in a webcast with users of its trading app looking to participate in its initial public offering, which is set to price next week.
The online brokerage has about 18 million funded investment accounts on its platform, most of which are held by retail traders.
Offering individual retirement accounts (IRAs) and Roth IRAs, which offer tax advantages to those saving for retirement, would allow Robinhood to tap a vast market. Americans held $12.6 trillion in IRAs at the end of March, up 2.8% from the end of December, according to the Investment Company Institute. ....

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Robinhood CEO says he is considering offering US retirement accounts


Robinhood CEO says he is considering offering US retirement accounts
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Robinhood CEO says he is considering offering US retirement accounts
FILE PHOTO: Robinhood logo is seen on a smartphone in front of a displayed same logo in this illustration taken, July 2, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
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25 Jul 2021 07:10AM
(Updated:
25 Jul 2021 08:05AM)
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REUTERS: Robinhood Markets Inc is considering launching U.S. retirement accounts, CEO and co-founder Vlad Tenev said on Saturday in a webcast with users of its trading app looking to participate in its initial public offering, which is set to price next week. ....

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