Trade-PMR
Trade-PMR is a U.S. RIA-focused custodial services platform, now a wholly owned subsidiary of Robinhood Markets, that provides custody, portfolio management, and clearing technology exclusively to independent registered investment advisors, with approximately $50 billion in assets under administration.
- Company typePrivate
- Founded1998
- HeadquartersOrlando, United States
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
What Trade-PMR does
Trade-PMR, Inc. (operating as TradePMR and TradePMR by Robinhood) is a U.S.-domiciled custodial services platform that serves independent registered investment advisors (RIAs). Founded in 1998 by former RIA Robb Baldwin, the company is headquartered in Clearwater, Florida, and was acquired by Robinhood Markets in February 2025 for approximately $300 million. TradePMR's defining commercial characteristic is its exclusive focus on independent RIAs, with no retail division competing for client assets, a positioning that addresses channel-conflict concerns advisors face with wirehouse-affiliated custodians.
The company's core technology is Fusion, a proprietary custody and portfolio management platform offering portfolio management, trading, client reporting, and workflow automation specifically designed for independent RIAs. The product set has been expanded through the Robinhood acquisition to include the Robinhood Advisor Network (an in-app referral marketplace connecting Robinhood's 27.5 million retail users to TradePMR-custodied advisors), Robinhood Cortex for Advisors (an AI tool that generates automated portfolio summaries and tax insights), margin and securities-backed lending (rates starting at 4.25%), and a forgivable loan program for advisor acquisitions and succession planning. TradePMR also relies on a long-term clearing and execution partnership with Wells Fargo Clearing Services, which was extended through 2032.
TradePMR generates revenue through three primary streams: recurring custodial services fees tied to assets under administration (currently approximately $50 billion, up 15% since the Robinhood acquisition), usage-based interest income from margin and securities-backed lending, and transaction-based clearing and execution fees routed through Wells Fargo. The go-to-market is relationship-led and event-driven, anchored by the annual SYNERGY conference, direct sales to RIAs with at least $500 million in assets, and the Robinhood Advisor Network referral channel. The company reports 1,001–5,000 employees and has been independently recognized as the #1-rated custodial platform in advisor satisfaction (2024 T3/Inside Information Advisor Software Survey) and the highest-scoring platform on the Ezra Group WealthTech Integration Score at 7.86/10.
Trade-PMR firmographics
Firmographics- Name
- Trade-PMR
- Legal name
- Trade-PMR, Inc.
- Website
- https://tradepmr.com
- Company type
- Private
- Founded year
- 1998
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Trade-PMR is a U.S. RIA-focused custodial services platform, now a wholly owned subsidiary of Robinhood Markets, that provides custody, portfolio management, and clearing technology exclusively to independent registered investment advisors, with approximately $50 billion in assets under administration.
- Ownership category
- akta.pro rank
Trade-PMR industry classification
Industry- Product category
- RIA Custody Services
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Prime Brokerage Custody & Asset Servicing (Custody Component) (FSAFAHAF)
- akta.pro secondary industry
- Regulatory Reporting & Post-Trade Transparency (Clearing/Settlement) (FSACAHAM)
Keywords
Where Trade-PMR is headquartered
LocationHeadquarters
- HQ city
- Orlando
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Trade-PMR business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain
Revenue model
- Custodial Services Fees: TradePMR generates revenue through custodial services fees charged to RIAs for custodying client assets on its platform
- Margin and Securities-Backed Lending: Interest income from margin lending and securities-backed lending services for RIA clients, with rates starting as low as 4.25% depending on bank call rate and balance size
- Clearing and Execution Services: Revenue from clearing and execution services provided through Wells Fargo Clearing Services partnership
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Monthly | Margin Lending - Rates starting at 4.25% |
| Other | Multi-year contract | Forgivable Loans for Advisors |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels5 records
Trade-PMR product offering
Product offeringCore offering
TradePMR provides custody, clearing, and portfolio management technology exclusively to independent registered investment advisors. Its proprietary Fusion platform enables advisors to custody client assets, trade, and generate reporting, supplemented by margin/securities-backed lending and a forgivable loan program. Following the 2025 Robinhood acquisition, the platform now also offers the Robinhood Advisor Network referral marketplace and the AI-powered Robinhood Cortex for Advisors tool.
Product overview
TradePMR operates as an RIA-focused custodial services platform providing custody, clearing, and technology solutions exclusively for registered investment advisors. The core product is the Fusion platform, a proprietary custody system that enables advisors to manage client assets. TradePMR offers integrated add-on services including margin and securities-backed lending with competitive rates, and has been expanded through Robinhood's acquisition to include the Robinhood Advisor Network (a referral marketplace connecting advisors with Robinhood's retail customers) and Robinhood Cortex for Advisors (an AI-powered tool for automated portfolio summaries and tax insights integrated into Fusion). The platform is exclusively RIA-focused with no retail division competing for client assets.
Differentiator
Problem solved
Functional benefit
Brands
- Fusion: TradePMR's proprietary custody platform designed for independent RIAs, featuring technology for portfolio management, client service, and business operations.
Products and services
- Fusion Platform Proprietary custody and portfolio management platform designed for independent RIAs, offering portfolio management, trading, client reporting, workflow automation, and AI-powered portfolio analysis. Used by RIA firms to custody client assets and run day-to-day advisory operations.
- Custodial Services Custody and safekeeping of client assets for independent RIAs, with clearing and execution handled through the Wells Fargo Clearing Services partnership. Serves U.S. RIA firms seeking a non-competing custodial partner.
- Robinhood Advisor Network In-app referral marketplace connecting Robinhood's 27.5 million retail customers with TradePMR-custodied independent advisors, targeting investors with at least $250,000 in investable assets. RIAs access Robinhood's user base and pay a share of revenue from referred clients.
- Robinhood Cortex for Advisors AI-powered add-on tool integrated into the Fusion platform that produces automated portfolio summaries and tax insights for RIA advisors, reducing manual reporting workload and enabling process automation of client-facing analyses.
- Margin and Securities-Backed Lending Margin lending and securities-backed lending services offered to RIA clients and their end investors, with usage-based pricing that starts as low as 4.25% depending on bank call rate and balance size. Serves RIAs whose clients need liquidity against portfolio holdings.
- Forgivable Loan Program Forgivable loan program available to independent advisors to fund acquisitions and succession-planning ventures, structured as multi-year contracts that forgive over time. Targets breakaway brokers and growing RIA firms.
Quantifiable outcome
- #1 rated custodial platform in advisor satisfaction (2024 T3/Inside Information Advisor Software Survey)
- +2 more outcomes
Companies that use Trade-PMR
Customer profileNamed customers4 records
Segments2 records
Ideal customer profiles2 records
Trade-PMR technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability4 records
Feature3 records
Trade-PMR partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered minor and core.
- Gryphon Wealthminor$3 billion team departed Wells Fargo Advisors Financial Network to launch Gryphon Wealth, selecting TradePMR as its custodial and technology partner. The firm leverages TradePMR's Fusion platform for AI, estate planning, and tax planning integration.
- The Mather Groupminor$17 billion RIA signed to Robinhood Advisor Network referral program. The Mather Group pays Robinhood 25% of revenue generated from clients referred through the network, with custodians at TradePMR.
- Wells Fargo Clearing ServicescoreTradePMR extended its custody and clearing partnership with Wells Fargo through 2032. Wells Fargo provides clearing and execution services while TradePMR focuses on custody and RIA services. Despite the extension, both companies are reportedly building capabilities to potentially replace the partnership as early as 2028.
- Robinhood MarketscoreRobinhood acquired TradePMR for approximately $300 million in February 2025. The acquisition brought TradePMR into the Robinhood ecosystem, providing RIAs with access to Robinhood's retail customer base, Robinhood Ventures, IPO opportunities, and AI tools like Robinhood Cortex for Advisors.
Scale indicators4 records
Recent moves6 records
Expansion highlights6 records
Trade-PMR competitors and assessment
Company assessmentDirect peers
- Charles Schwab (Schwab Advisor Services): Schwab Advisor Services is one of the largest RIA custodians in the U.S., offering custody, trading, technology, and banking to independent advisors — directly competing with TradePMR for the same breakaway and independent RIA segment.
- Fidelity Institutional: Fidelity Institutional provides custody, clearing, technology, and wealth management tools to RIAs and breakaway brokers, with comparable scale, product breadth, and target advisor customer base as TradePMR.
- Pershing (BNY Mellon | Pershing): Pershing is a major RIA and broker-dealer custodian offering custody, clearing, and wealthtech solutions; it competes head-on with TradePMR for independent advisor relationships and breakaway transitions.
- Raymond James: Raymond James provides custodial, clearing, and technology services to independent RIAs and breakaway advisors, with similar advisor-focused service positioning and overlapping target customers as TradePMR.
- LPL Financial: LPL Financial is the largest independent broker-dealer and RIA custodian in the U.S., offering custody, technology, and advisory practice support — a direct competitor in the independent advisor segment TradePMR serves.
Broad incumbents
- Vanguard Institutional: Vanguard Institutional offers custody and investment services to RIAs, leveraging Vanguard's massive fund complex; it competes in the same RIA custody market but serves a broader institutional and retail advisor base at much larger scale.
Emerging players
- Altruist: Altruist is a fintech RIA custodian offering custody combined with a modern technology platform and lower pricing — an emerging, tech-forward competitor targeting the same independent RIA segment as TradePMR.
- Betterment for Advisors: Betterment for Advisors offers digital custody, investing, and planning tools to RIAs; partial overlap with TradePMR's RIA-focused technology and custody offering, particularly for advisors wanting a digital-first platform.
- Orion Advisor Solutions: Orion provides portfolio management, performance reporting, and advisor technology that integrates with RIA custodians; while not a custodian itself, it competes with TradePMR's Fusion platform in the advisor technology stack.
- Flourish Financial: Flourish Financial offers RIA custody and cash management solutions, targeting independent advisors with a tech-forward platform — an emerging competitor with overlapping custody and advisor tooling value propositions to TradePMR.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Trade-PMR social profiles
Digital presenceTrade-PMR financial estimates
Financial estimateRevenue estimate
Valuation estimate
Trade-PMR leadership team
Management profileNumber of profiles
Profiles3 records
Trade-PMR funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Trade-PMR M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Trade-PMR
What does Trade-PMR do?
TradePMR provides custody, clearing, and portfolio management technology exclusively to independent registered investment advisors. Its proprietary Fusion platform enables advisors to custody client assets, trade, and generate reporting, supplemented by margin/securities-backed lending and a forgivable loan program. Following the 2025 Robinhood acquisition, the platform now also offers the Robinhood Advisor Network referral marketplace and the AI-powered Robinhood Cortex for Advisors tool.
Is Trade-PMR a public or private company?
Trade-PMR is a private company. It is classified as corporate owned and is currently operating.
When was Trade-PMR founded?
Trade-PMR was founded in 1998. It employs 1,001 to 5,000 people.
Where is Trade-PMR based?
Trade-PMR is headquartered in Orlando, United States, in the North America region.
How does Trade-PMR make money?
Three revenue lines are on record. Custodial Services Fees are the primary driver. The others are margin and Securities-Backed Lending and clearing and Execution Services.
Who are Trade-PMR's main competitors?
Direct peers on record are Charles Schwab (Schwab Advisor Services), Fidelity Institutional, Pershing (BNY Mellon | Pershing), Raymond James and LPL Financial. Vanguard Institutional is listed as a broad incumbent. Emerging players are Altruist, Betterment for Advisors, Orion Advisor Solutions and Flourish Financial.
Does Trade-PMR have an API?
No public API is recorded for Trade-PMR.
What industry is Trade-PMR in?
Trade-PMR's product category is RIA Custody Services. Its primary akta.pro industry code is FSAFAHAF, Prime Brokerage Custody & Asset Servicing (Custody Component), with a secondary code of FSACAHAM, Regulatory Reporting & Post-Trade Transparency (Clearing/Settlement). Its NAICS code is 522320 and its SIC code is 6200.