Robinhood has unveiled a suite of new products aimed at expanding its wealth management offering for households, including new account types and an invite-only premium credit card.

The US trading platform is developing a family-focused financial “super app” designed to support investing, planning and wealth management across generations. The new family hub will give users a unified view of accounts grouped by family member, with customisable views for each account while keeping ownership and permissions clearly defined.

Rather than relying on password sharing, the hub is built around explicit access controls. Customers will be able to invite another adult into the hub, choose which accounts are visible, and determine whether they have view-only access or full authority to manage those accounts. Robinhood said the experience is intended to bring greater clarity, transparency and shared goals into one place for households juggling multiple apps and logins.

The family hub is expected to begin rolling out to customers later this year.

As part of a broader push into family wealth management, Robinhood is also introducing new custodial and trust accounts. Custodial accounts will allow parents and guardians to invest on behalf of a minor, with assets legally owned by the child and transferred when they reach the age of majority. Trust accounts, meanwhile, are designed for customers using revocable living trusts as part of their estate planning and wealth transfer strategies, enabling one or more trustees to jointly manage investments held in the name of the trust.

In parallel, the FinTech is enhancing Robinhood Strategies, its digital advisory service. The firm is adding tax-aware transfers to make it easier for customers to move existing brokerage or robo-advisor accounts into the service, alongside an expanded returns hub to give users more insight into portfolio performance. Robinhood is also broadening the range of Strategies account types to include managed custodial accounts, with managed trust and multiple managed individual accounts to follow.

Alongside these wealth and planning features, Robinhood has announced the launch of an invite-only premium credit card.

The Robinhood Platinum Card, plated with 99.9 per cent pure platinum, is positioned as the next step up from the existing Robinhood Gold Card. It carries an annual fee of $695 and is designed for customers seeking elevated rewards across dining, health, wellness and travel. According to the company, the package of perks and credits is worth over $3,000 per year.

Benefits include higher cashback rates on selected categories such as restaurants, hotels, rental cars and flights booked through the Robinhood Banking app, as well as access to airport lounges and a range of partner memberships in areas like healthcare and fitness. Cardholders will also receive a complimentary Robinhood Gold membership and an annual credit towards autonomous rides.

Robinhood said the Platinum Card will offer up to five times higher credit limits than the Gold Card. The firm added that it now has more than 700,000 Gold Card customers and over $10 billion in annualised spend, while Robinhood Banking has attracted more than 50,000 funded customers and over $800 million in deposits to date.

“We built the Gold Card to be the best card for everyday spending, and customer demand showed us there was room to push the boundaries even further,” said Deepak Rao, general manager and vice president at Robinhood Money. “The Platinum Card offers higher limits, elite rewards and luxury benefits, and raises the bar for what customers should expect from a premium credit card.”

The announcements came at the company’s Take Flight event, where Robinhood chief executive Vlad Tenev said the firm aims to become “the financial superapp for families to invest, plan, and grow wealth across generations”.

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