Trade-PMR

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.

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

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

• RIA custody services
• Custodial platform
• Portfolio management
• Securities-backed lending
• Advisor technology

Headquarters

HQ city

Orlando

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Custodial Services Fees: TradePMR generates revenue through custodial services fees charged to RIAs for custodying client assets on its platform
2. 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
3. Clearing and Execution Services: Revenue from clearing and execution services provided through Wells Fargo Clearing Services partnership

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core 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

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature3 records

Partnerships

Four partnerships are on record, tiered minor and core.

• Gryphon WealthminorChannel Partner/ Reseller/ Distributor · 24 May 2026$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 GroupminorChannel Partner/ Reseller/ Distributor · 1 May 2026$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 ServicescoreTechnology or Integration · 3 June 2025TradePMR 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 MarketscoreStrategic or Co-development Partner · 1 February 2025Robinhood 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

Direct 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

• Xx.com/tradepmr
• Facebookfacebook.com/tradepmr
• LinkedInlinkedin.com/company/1464140

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Trade-PMR