Robinhood has expanded its Cortex platform to RIAs that custody assets with TradePMR, providing advisors with AI‑generated portfolio analysis, tax insights, and automated meeting prep and summaries for client communications.
More than one million retail investors on Robinhood have used Cortex as an AI assistant for their self-direct investing. The tool now debuts at no extra cost for advisors inside TradePMR’s Fusion technology platform, the company announced Wednesday at its Synergy26 conference in Washington, D.C.
“[Cortex] shows a [client’s] security that would be better suited for a tax advantaged account while maintaining the household's intended allocation. Then, within tax loss harvesting, you can immediately review unrealized losses across overweight securities, and in this example, create a basket directly within the experience,” Robinhood product manager Jason Simmons said during a visual presentation demo of Cortex for Advisors.
Robinhood discloses that Cortex for Advisors provides informational insights only and does not provide tax, legal or financial advice. TradePMR founder and general manager Robb Baldwin said Wednesday that 90% of Robinhood employees are using AI, which he said will help fill the advisor industry’s projected talent shortage amid a massive generational transfer of wealth from baby boomers.
“We have a math problem in our industry, we're looking at a long-term future with fewer advisors, but trillions of dollars in motion. We have more clients entering the wealth building phase of their lives than ever in history,” said Baldwin. “So, how do you maintain your high-touch standards when your client base doubles or even triples? The answer lies in AI and automation. We imagine a future where a small agile team can leverage tools to efficiently manage billions of dollars in assets.”
TradePMR's total assets under administration have grown 15% to $50 billion since its sale to Robinhood closed last year, according to Robinhood.
"We understand our future competitors are someone very young who's going to go out there on social media—grow an incredible practice, use AI, be managing billions of dollars—and literally have three, four, or five people on his staff operating. It's gonna happen. You see it in social media, and a lot of other businesses, it's going to happen here too," said Baldwin. Entrepreneur Anthony Pompliano, who has millions of followers across social media, co-founded a similar AI investment startup called CFO Silvia.
For Robinhood's network of roughly 27 million retail investors, the brokerage recently launched AI agents that can execute equity trades and make credit card purchases without requiring the customer to approve individual transactions, but Baldwin says that usage will not extend to RIAs until regulatory changes occur.
“Right now we can't do that in this space. RIAs aren't allowed to hire an AI agent to manage money for customers at this point in time, because it doesn't suit the rules currently, so you won't see it until that changes,” Baldwin told InvestmentNews in Washington D.C.
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