Robinhood 3% Match

- Robinhood offered a 3% match on IRAs which led to an increase in AUM - Participants had to liquidate mutual funds to get the match - Many older account holders are moving their money to Robinhood for the benefit of the offer - Customers are also moving their checking and savings accounts for a 5.25% interest rate - The 1% match for brokerage accounts is also attracting customers - The company has a five year lock-in to recoup their investment - The promo is changing Robinhood's customer profile and future prospects.

Summarized top reddit comments: - Robinhood offers a 3% match on annual IRA contributions - Fidelity offers the same interest but allows for more investment options - Predictive models may indicate that Robinhood stock could go down - Some believe the 3% match is not significant - Some see Robinhood as a value trap - Some users moved 7 figure accounts to Robinhood, others find this unlikely