A move by the major brokerages this week to scrap trading fees could be a direct hit to Robinhood, the start-up that kicked off the trend six years ago.
In response to the growing fintech competition and zero-fee model, Bettinger himself has"let's not kid ourselves: Everybody's paying, nothing is free ... it's just a matter of how you pay," he said at the Fortune conference.
That will likely be the case now at his own firm. UBS's Hawken said the likely outcome is some sort of expense rationalization through additional fees, or different "tiers" of accounts emerge, similar to traditional banking. It hasn't been easy for Robinhood to get into banking though. In December, it unveiled checking and savings account with a 3% interest rate. Just a day later, they said they were re-naming and re-launching after regulators and Wall Street sounded theThe company has also said it plans to have an IPO eventually, but hasn't set a date or given specific details.
Part of its allure to venture capital is its ability to acquire customers at a cheaper rate than their competitors. The company's growth has largely been driven by word of mouth. Free stock trading was just "the tip of the spear" in their customer acquisition strategy, according to Gilbert.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Ecuador declares state of emergency as fuel protesters battle policeEcuador's President Lenin Moreno declared a state of emergency on Thursday ...
Baca lebih lajut »
Comcast & Byron Allen’s $20B SCOTUS Battle Finds POTUS Candidates Assail NBC Owner Over Civil Rights LawDays before the new session of the Supreme Court is set to begin, an ever-growing chorus of displeasure with the alliance between Comcast and Donald Trump’s Department of Justice in Byron Allen’s $…
Baca lebih lajut »
Beyonce’s Father, Mathew Knowles, Reveals Battle With Breast CancerMathew Knowles, father and former manager of Beyonce and Solange, revealed that he was recently diagnosed with breast cancer in an interview with ABC’s “Good Morning America” that aired Wednesday. …
Baca lebih lajut »
Trump goes into battle mode on impeachment
Baca lebih lajut »
'It's a Battle Scar': The Emotional Toll of C-Sections No-one Talks AboutHere, 11 women show their cesarean section scars—and open up about the mental ones—to break the stigma about a procedure shrouded in misconceptions.
Baca lebih lajut »
Exclusive: For the First Time Shari Redstone Tells Her Side Of The Battle To Merge Viacom And CBSShari Redstone faced a vicious uphill battle for her father’s company—including, at times, with Sumner Redstone himself. Finally victorious in uniting Viacom and CBS, she tells her side of the story by DawnC331 Forbes400
Baca lebih lajut »