Robinhood unveils family hub, trusts & platinum card

Robinhood has announced new products and account types focused on family finance, alongside an invite-only premium credit card and updates to its managed investing service, Robinhood Strategies.

Robinhood framed the launch as a step toward a single place where households can see and manage money across life stages. "Robinhood will be the financial superapp for families to invest, plan, and grow wealth across generations," said CEO Vlad Tenev.

Family hub

A new "family hub" will provide a consolidated view of accounts grouped by family member, with customisable views for each account. Account ownership and permissions will remain distinct.

Rather than informal password sharing, the family hub uses invitations and permission settings. Users can invite another adult, choose which accounts are visible, and set access from view-only to full authority.

The family hub is expected to begin rolling out later this year.

Custodial accounts

Robinhood is also rolling out custodial accounts, allowing parents and guardians to invest on behalf of a minor. Assets are legally owned by the child and transfer automatically when the child reaches the age of majority.

The product includes recurring investments and a new gifting experience, designed to let family and friends contribute. Robinhood linked the accounts to broader generational planning. "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.

When the family hub launches, customers will be able to view custodial portfolios alongside other accounts.

Trust accounts

Robinhood is adding trust accounts, a brokerage account type for customers using trusts in estate planning and wealth transfer. The accounts are designed to let one or more trustees manage investments held in the name of a revocable living trust.

The trust accounts will support equities, options, and uninvested cash. Rollout to eligible customers is expected later this year.

Strategies update

Robinhood also announced updates to Robinhood Strategies, its digital advisory service. The service now has more than USD $1.5 billion in assets under management across more than 250,000 funded customers.

One change is "tax-aware transfers", a guided process for moving existing brokerage or robo-advisor accounts into Robinhood Strategies. After assets transfer and settle, the team analyses holdings and tax lots, then presents options that balance reinvestment choices with potential tax impact.

Robinhood also introduced a "returns hub" in the app, which provides a deeper view of performance over time, including drivers of results and benchmark comparisons.

Robinhood Strategies is also expanding its account types beyond individual accounts, traditional IRAs, and Roth IRAs. Managed custodial accounts are starting to roll out, with managed trust and multiple-managed-individual accounts expected 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 at Robinhood Markets.

Premium credit card

Robinhood introduced a new credit card under Robinhood Money. The Robinhood Platinum Card is invite-only and positioned above the existing Robinhood Gold Card.

Robinhood reported more than 700,000 Gold Card customers and more than USD $10 billion in annualised spend. It also said Robinhood Banking is rolling out now, with more than 50,000 funded customers and over USD $800 million in cash deposits to date.

The Platinum Card has an annual fee of USD $695. Robinhood said it is plated with real platinum and offers higher credit limits than the Gold Card, with limits up to 5x higher.

Benefits include 5% cash back on dining, a USD $250 DoorDash discount, and a DashPass membership. Health and wellness benefits include memberships and a USD $200 annual credit toward health wearables. Travel benefits include 10% cash back on hotels and rental cars, and 5% cash back on flights booked through the Robinhood Banking app, plus Priority Pass lounge access. The card also includes a USD $250 annual credit on autonomous rides, according to Robinhood.

"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 of 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."

Gold rewards

Robinhood also outlined new perks for Robinhood Gold subscribers. Gold Rewards will provide a rotating set of rewards that refresh regularly, including ticket drops, crypto gifts, partner perks, and access to a "Gold Collection" of products and experiences.

Other product changes

Robinhood announced "Early Dividends", which it said will allow customers to receive dividends from major US stocks up to one month before the official payment date. The feature is expected to roll out by April.

Another update is a "portfolio overview" that shows customers all their accounts on Robinhood, including accounts held at other brokerages. The overview provides breakdowns by account type and diversification across accounts. The feature is rolling out to all customers.

Robinhood also announced Robinhood Market, a curated storefront featuring official Robinhood apparel and accessories.

Further rollouts later this year include the family hub, trust accounts, and additional managed account types under Robinhood Strategies.