Robinhood rolls out new Amazon-inspired subscription model

Robinhood has unveiled a new subscription strategy that could see users enjoying advantages similar to what Amazon Prime or Costco offers its customers.

Vlad Tenev, Managing Director of Robinsaid during a interview With CNBC, the company considers the fidelity market as a huge growth opportunity.

This could be a big news for the crypto, as it means adding more services, including digital assets, wealth management and tax councils at the company’s monthly subscription service.

If the portfolio offers a series of products that investors consider as precious, more people will be ready to pay the subscription fees, noted Robinhood CEO.

According to him, it is a model that Amazon perfected and that Robinhood finds very interesting. It is a model that could stimulate the loyalty market through financial services, said Tenev.

The loyalty to the financial services market, according to Tenev, is considerably crucial. It is mainly because it can be assimilated to the part of the portfolio.

“My philosophy behind it is the subscriptions concern loyalty. So, if you are a subscriber to something, then this service is somehow the first in mind when you think of trying something else of this category.”

Robinhood’s gold subscription currently invoices monthly costs of $ 5 or $ 50 per year.

With this, subscribers benefit from an advantage such as an interest of 4% on their unintestained species. They also have access to professional research, among others.

The company now reorganizes the offer with the new Robinhood strategies, adding wealth management to provide negotiated stock market funds and the best side actions. Gold subscribers will pay for management fees of 0.25%, this cap at $ 250.

Robinhood hopes that this strategy will see its users access the advantages of loyalty similar to what has Amazon Prime or Costco members. If customers consider that the offers justify the monthly costs, they will pay and return, he noted.