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Motley Fool Hidden Gems Investing

Another New Trend from Robinhood?

Motley Fool Hidden Gems Investing

The Motley Fool

Business, Investing

4.33.1K Ratings

🗓️ 7 December 2022

⏱️ 24 minutes

🧾️ Download transcript

Summary

After helping to drive trading costs to $0, Robinhood offers a financial incentive for IRA investing. (0:21) Jason Moser discusses: - Whether Robinhood's 1% match on new IRA accounts will force other financial institutions to do the same - If the new service from the still-unprofitable Robinhood will reward shareholders - A new survey from Forbes Advisor about the increase in buy-now, pay-later activity and what it bodes for consumer savings in 2023 (10:25) Asit Sharma talks with Endava CEO John Cottrell about digital payment trends and differentiating from the competition. Stocks mentioned: HOOD, DAVA, WISE Holiday Music: Christmas Will Work It Out by Paola Bennet Host: Chris Hill Guests: Jason Moser, Asit Sharma, John Cottrell Producer: Ricky Mulvey Engineers: Rick Engdahl Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This is the season of Giving and One Financial Services Company wants to give the gift of cash.

0:11.0

Bottlyful Money starts now.

0:16.8

I'm Chris Hill and back by popular demand.

0:19.2

Bottlyful Senior Analyst Jason Moser. Thanks for being here.

0:21.8

Popular demand you sit on a throne applies.

0:25.9

I could only wish that were the case, but I'm happy to be here.

0:29.6

Nonetheless.

0:31.2

Let's begin with Robinhood, shall we?

0:32.9

Because the stock trading app is trying to broaden its offerings.

0:37.2

And this week rolled out something that caught our attention.

0:41.8

For anyone who opens an individual retirement account on their platform,

0:46.1

Robinhood is offering to match one percent of the funds that customers contribute.

0:52.6

The catch is you have to keep the retirement funds with Robinhood for at least five years to get

0:57.2

the match. I kind of like that. I beat I was a someone and you're with me and everyone here at

1:05.6

the Motley Fool. We really focus on long-term investing. So I like that for customers.

1:12.5

Do you like this for Robinhood and their shareholders?

1:16.6

Well, I'll do it ultimately. Yes. I mean, I think you're right. I mean, this is regardless,

1:20.9

this is a really positive message. This is the kind of thing we love to see.

1:27.9

It is encouraging folks to think longer term, start preparing for retirement.

1:33.8

Robinhood's demographic does skew a little younger. And so that I think is important to remember as

1:40.8

well because I mean, you're trying to educate younger investors, give them that mindset of thinking

1:45.4

in the context of many, many years as opposed to quarters. But generally speaking, I think it,

...

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