<div>
 
 Earnings/results
 
 <ul>
 <li>
 
 Robinhood reported a loss per share of USD 1.17 for Q4 2022, up significantly compared to the loss per share of USD 7.49 recorded in Q4 2021. The company reported total revenue of USD 380.0 million for Q4 2022, a 4.7% YoY growth compared to total revenue of USD 363.0 million recorded during the previous quarter. For Q4 2022, net interest revenue accounted for 44.0% of Robinhood&rsquo;s total revenue and was up 2.7x YoY. This also drove total revenue upwards despite a decline in transaction-based revenue (down 29.6% YoY) and other revenue (down 7.1% YoY) (February 8, 2023; 
 <a href="https://s28.q4cdn.com/948876185/files/doc_financials/2022/q4/Q4-2022-Robinhood-Exhibit-99.1-vDISTRIBUTION.pdf">
 Company earnings release
 </a>
 ).
 
 </li>
 </ul>
 
 Product update
 
 <ul>
 <li>
 
 Wells Fargo announces the launch of LifeSync, a digital financial planning and wealth management tool that will be available to its wealth management clients by the end of March 2023 (February 22, 2023; 
 <a href="https://www.cnbc.com/2023/02/22/wells-fargo-boosts-digital-connection-with-rich-clients.html">
 CNBC
 </a>
 , 
 <a href="https://www.pymnts.com/news/digital-banking/2023/wells-fargo-launch-digital-platform-wealth-management/">
 PYMNTS
 </a>
 ).&nbsp;
 
 </li>
 </ul>
 
 Management news
 
 <ul>
 <li>
 
 Betterment, a robo-advisory platform, announced plans to lay off 28 staff in anticipation of rising inflation and market volatility throughout 2023. In addition, the company also plans to close its Philadelphia office and sub-lease a floor in the New York office in an additional attempt to minimize costs. (February 15, 2023; 
 <a href="https://www.businessinsider.com/betterment-layoffs-digital-wealth-management-firm-cuts-costs-2023-2">
 Business Insider
 </a>
 , 
 <a href="https://www.thinkadvisor.com/2023/02/16/betterment-laying-off-28-employees/">
 Think Advisor
 </a>
 ).&nbsp;
 
 </li>
 </ul>
 
 
</div>

Retail investors demanding sophisticated passive investment strategies are looking for an edge.

Retail Trading Infrastructure

Monthly News Wrap (February 2023)

Plum launches in five more European countries

Ejara raises USD 8 million in Series A funding

Truist Wealth launches an online trading platform for commission-free trading

Robinhood Q3 losses below analyst estimates; despite decline in monthly active users and assets under management

Sidekick raises GBP 3.3 million in pre-seed funding

AleFi raises USD 600,000 in funding

Stash Financial raises USD 52.6 million in debt financing

Plum raises over GBP 1 million in crowdfunding

Goldman Sachs to restructure its digital consumer banking unit and robo advisor due to losses

Equi raises USD 15 million in Series A funding

Betterment announces partnership with Gemini to offer crypto-based portfolios

Composer raises USD 6 million in funding

UBS abandons plans to acquire Wealthfront for USD 1.4 billion

VRGL raises USD 15 million in Series A funding

Robinhood faces lawsuit over market manipulation claims

Robinhood’s reports halving revenues in Q2 due to volatile markets and depressed asset valuations

Robinhood fined USD 30 million by NYDFS for non-compliance and consumer protection violations

Shares raises USD 40 million in Series B funding

Lightyear raises USD 25 million in Series A funding

M1 Finance expands product offering with crypto trading

Nutmeg names JPMorgan Chase managing director Sanjiv Somani as CEO

AlgoPear raises USD 2 million in seed funding

Wahed Invest raises USD 50 million in Series B funding

Wealthsimple announces layoffs of nearly 13% of its workforce

Freetrade raises GBP 30 million in funding

Robinhood announces new NFT-compatible DeFi wallet

Tumelo raises GBP 15.3 million in Series A funding

Robinhood’s Q1 loss overshoots analyst estimates as user numbers fall

Stake raises AUD 50 million in Series A funding

All Updates