Robinhood Markets announced the launch of a pilot for its new Advisor Referral Program, part of the Robinhood Advisor Network, on March 2, 2026. The program allows registered investment advisors (RIAs) to refer clients to Robinhood Asset Management and earn a share of the gross revenue generated from those referrals.
The pilot targets Robinhood users with at least $250,000 in investable assets. Participating advisory firms must manage at least $500 million in assets under management and operate on the TradePMR platform, which Robinhood acquired to support its wealth‑management offering. Under the revenue‑sharing model, RIAs pay Robinhood Asset Management 25 % of the gross revenue from referred clients, creating a recurring fee stream for the company.
This initiative builds on the TradePMR acquisition and is part of Robinhood’s broader strategy to diversify beyond its core brokerage and subscription services. By offering a fee‑based advisory channel, Robinhood positions itself to compete more directly with established wealth‑management firms such as Charles Schwab and Fidelity, while advancing its “Financial SuperApp” vision of a one‑stop platform for all financial needs.
CEO Vlad Tenev emphasized that the company’s vision remains focused on building the Financial SuperApp, and CFO Shiv Verma highlighted 2026 as a year of strong momentum and profitable growth. The pilot’s expansion into eligible customers in the second quarter signals a commitment to scaling the program and generating new recurring revenue.
The launch of the Advisor Referral Program marks a significant shift in Robinhood’s revenue mix, adding a fee‑based component that can help stabilize earnings as the company continues to grow its user base and deepen relationships with professional advisors.
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