Webull adds mutual funds to IRA accounts in retirement push

Webull has moved to broaden its retirement investing credentials with the addition of mutual funds for IRA accounts, giving eligible customers access to professionally managed, diversified portfolios without leaving the platform.

The fintech, which operates across 16 markets and counts more than 27 million registered users globally, said the rollout forms part of a wider push to develop products that serve longer-term financial planning rather than just active trading.

Lindsay Ryan, Webull's head of US products, said the move was driven by a desire to consolidate the retirement investor experience.

"Expanding access to mutual funds within IRA accounts allow investors to more easily diversify their portfolios and manage their retirement savings through a single platform," Ryan said. "By bringing more investment choices into one streamlined experience, we're helping clients simplify long-term financial planning and stay focused on achieving their goals."

The offering is aimed at three distinct investor groups: those making ongoing IRA contributions, those rolling over retirement assets from other accounts, and those seeking to shift existing long-term holdings into professionally managed products.

Retirement planning tension

The move comes as fresh research underscores a growing tension in retirement planning.

InvestmentNews covered a Vanguard study last week that argues that the central challenge for today's IRA holders is no longer how much to accumulate, but how to convert those assets into a reliable income stream once work stops.

The firm found that many retirees struggle with the shift from saving to spending, lacking a coherent withdrawal strategy even after years of disciplined investing with some depleting savings too quickly and others holding back unnecessarily out of fear of running out.

With retirement wealth now heavily concentrated in IRAs, the pressure on individuals to make sound, ongoing drawdown decisions has rarely been greater — and it's that gap that platforms like Webull are increasingly positioning themselves to address.

Initial launch

Webull’s initial launch is running in beta for a select group of US-based customers, with a full rollout to all IRA accounts planned in the near term. No-load mutual funds are among the products available. Webull said the fund lineup would grow over time through the addition of new funds and CUSIPs, and that support for ACAT transfers of mutual fund positions is expected in a future release.

The expansion reflects a broader strategic shift at Webull, which has been steadily adding product lines beyond its equities and options trading roots. Earlier this year the company moved to remove Pattern Day Trader restrictions, opening active trading to customers without the previously required $25,000 minimum balance.