‘Luxury At A Mass Market Price:’ Robinhood CEO Vlad Tenev Outlines Vision For $5 Financial Services

He said that the First Republic Bank’s fall in 2023 and subsequent acquisition by JP Morgan left a void in consumer-focused private banking.
Vladimir Tenev arrives at the 11th Breakthrough Prize Ceremony at Barker Hangar on April 05, 2025 in Santa Monica, California. (Photo by Steve Granitz/FilmMagic)
Vladimir Tenev arrives at the 11th Breakthrough Prize Ceremony at Barker Hangar on April 05, 2025 in Santa Monica, California. (Photo by Steve Granitz/FilmMagic)
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Sourasis Bose·Stocktwits
Updated Jul 02, 2025 | 8:31 PM GMT-04
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Robinhood Markets CEO Vlad Tenev said the company aims to become a consumer-focused bank by offering luxury financial services at an affordable price to subscribers of its Gold services.

“Anything that a high net worth individual can get from the private wealth manager or private banker should be available to Robinhood Gold, to a mass market audience, and for just $5 a month,” Tenev said during an interview with Stocktwits.

Robinhood Gold gives users access to Morningstar research reports, level II Nasdaq data, and a 4% annual percentage yield on uninvested brokerage cash, among other features.

The subscribers count for Robinhood Gold jumped 90% year-over-year during the first quarter to hit 3.2 million.

“We're trying to do a financial services luxury at a mass market price, which I don't think has been done before,” Tenev added.

The co-founder of Robinhood said that the fall of First Republic in 2023 and its subsequent acquisition by JP Morgan left a void in consumer-focused private banking.

“There is no consumer-friendly private bank, in our opinion, right now, and certainly not one that has any semblance of a mobile digital strategy,” Tenev said before adding that Robinhood Gold has a “natural place” in the sector.

On Friday, retail sentiment on Stocktwits was in the ‘extremely bullish’ (91/100) territory, while retail chatter remained ‘extremely high.’

HOOD’s Sentiment Meter and Message Volume as of 12:13 a.m. ET on May 5, 2025 | Source: Stocktwits
HOOD’s Sentiment Meter and Message Volume as of 12:13 a.m. ET on May 5, 2025 | Source: Stocktwits

Tenev also called to expand retail access to private market investments, arguing that current accredited investor rules are outdated and exclusionary.

Robinhood stock has gained 26% year to date (YTD) compared with a 3.8% fall in the SPDR S&P 500 ETF (SPY) and a 5% drop at Invesco QQQ Trust Series 1.

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