Robinhood doesn’t expect to close its $300 million acquisition of wealth management platform TradePMR until next year—part of an effort to supercharge growth by expanding into an entirely new business. But Robinhood is already starting to roll out plans for combining the two workforces.
On Tuesday and Wednesday, Robinhood presented offer letters to TradePMR’s approximately 200 employees—giving them until the end of day on Friday to accept their new contracts, according to four people with knowledge of the matter. Only two of TradePMR’s employees—its building maintenance team—didn’t get offers to join the beefed up fintech, according to one of the people.
