Robinhood woos wealthier clients from bigger brokerages- WSJ By Reuters

© Reuters. Robinhood brand is seen on a smartphone in entrance of a displayed identical brand on this illustration taken, July 2, 2021. REUTERS/Dado Ruvic/Illustration/File Picture

(Reuters) – Robinhood (NASDAQ:) Markets is attracting prospects from different brokerages, and is searching for to develop past its base of younger, first-time traders, the Wall Road Journal reported on Saturday.

Via Wednesday, the buying and selling app obtained about $1.1 billion in account transfers since Oct. 23, when it started providing a 1% match on transferred brokerage accounts, the Wall Road Journal reported.