‭Robinhood Financial LLC Customer Relationship Summary (“CRS”)‬‭Effective‬‭June 12‬‭, 2024‬‭Introduction‬‭ obinhood Financial LLC (“‬‭Robinhood Financial‬‭”, “‬‭RHF,‬‭”‬‭“‭w
R‬ e‬‭,” “‬‭our‬‭,” or “‬‭us‬‭”) is registered with the U.S.‬‭Securities and‬‭Exchange Commission as a broker-dealer and is a member of the Financial Industry Regulatory Authority (“‬‭FINRA‬‭”‭)‬ ‬‭and‬‭the Securities Investor Protection Corporation (“‬‭SIPC‬‭”‬‭).‬‭Brokerage and investment advisory services and fees differ; and it‬‭is important that you understand these differences. Free and simple tools are available for you to research firms and‬‭financial professionals at‬‭Investor.gov/CRS‬‭,‬‭which‬‭also provides educational materials about broker-dealers, investment‬‭advisers, and investing.‬‭ hat‬W‭investment‬‭services and‬‭advice can‬‭you provide‬‭me?‬‭ obinhood Financial offers brokerage services to retail investors. Our primary business is providing retail customers with‬R‭an app-based brokerage platform (“‬‭App‬‭”) to place orders to buy and sell stocks, exchange-traded funds (“‬‭ETFs‬‭”), and‬‭other securities or investment strategies such as trading on margin or using options strategies. Robinhood also provides‬‭educational content and tools for investors to learn about trading and the markets. We provide certain retail customers with‬‭recommendations to enroll in our fully paid securities lending (“Stock Lending”) program (“Stock Lending‬‭Recommendation”). Stock Lending Recommendations are made via email and App, and can be acted upon via the App.‬‭Not all customers are eligible for Stock Lending, and among eligible customers, not all will receive a recommendation to‬‭enroll in Stock Lending. While there is not an account minimum requirement to receive this recommendation, having a‬‭certain account value is one method of eligibility. Additional information about these criteria, certain limitations, and other‬‭requirements is available in the‬‭RHF Regulation Best Interest Disclosure‬‭.‬‭Stock Lending Recommendations are point in‬‭time recommendations and not monitored for changes. Also, certain retail customers are given an option to receive a‬‭recommendation of an asset allocation of ETFs through a proprietary computer algorithm, available exclusively through the‬‭App (“‬‭Portfolio Recommendation‬‭”). This is a point in time‬‭brokerage Portfolio Recommendation and is not monitored for‬‭future market changes. Portfolio Recommen‬‭dations are only available for certain ETFs with a minimum investment of‬‭$20.00; additional information about these limitations and other information about Portfolio Recommendations is available‬‭in the‬‭RHF Regulation Best Interest Disclosure‬‭.‬‭You always make the ultimate decision regarding whether to buy and sell‬‭securities (including if you receive a Portfolio Recommendation or Stock Lending Recommendation from us). We do not‬‭have any account minimums.‬‭ obinhood Financial is an introducing broker-dealer. Your cash and securities will be custodied by our affiliate, Robinhood‬
R‭Securities, LLC (“‬‭Robinhood Securities‬‭” and together with Robinhood Financial, “‬‭Robinhood‬‭”), which services your‬‭account by executing, clearing and settling your trades; preparing and distributing your account statements and trade‬‭confirmations; and extending credit to margin accounts. We offer NYSE- and NASDAQ-listed stocks, ETFs, options and‬‭American depositary receipts (“‬‭ADRs‬‭”), as well as certain stocks and ADRs traded in over-the-counter markets. We also‬‭offer fractional shares in many of the same stocks, ETFs, and ADRs. We offer individual and joint brokerage accounts and‬‭Traditional and Roth Individual Retirement Accounts (IRAs). We do not offer mutual funds or fixed income securities, except‬‭in the form of an ETF. Robinhood does not provide account or investment monitoring services.‬‭ or more information about our products and services,‬‭please visit our website at‬‭robinhood.com/us/en/about‬‭as well as‬F‭our‬‭RHF Regulation Best Interest Disclosure‬‭and‬‭RHF Customer Agreement‬‭.‬‭ onversation starters‬‭:‬‭Given my financial situation, should I choose a brokerage service? Why or why not? How will you‬C‭choose investments to recommend to me? What is your relevant experience, including your licenses, education and other‬‭qualifications? What do these qualifications mean?‬‭Responses to these questions can be found at:‬‭rbnhd.co/crs-rs‬‭.‬‭ hat fees will‬W‭I pay?‬‭ obinhood does not charge commissions for executing buy and sell orders, nor does it charge for the point in time Portfolio‬
R‭Recommendations or Stock Lending Recommendations we make. Other fees will apply. The primary fees you should‬‭expect to pay include:‬‭Robinhood Gold Fees‬‭:‬‭Robinhood charges a subscription-based fee for access to premium features for eligible users‬‭such as the ability to participate in the brokerage cash sweep program with a preferred annual percentage yield (APY) rate,‬‭the ability to receive a preferred match rate for eligible IRA contributions, the ability to receive an increase in Robinhood‬‭Instant deposits based on your account balance, access to certain Level II Market Data and Morningstar Equity Research,‬‭and access to the Robinhood Gold Card, a credit card product offered by Robinhood’s affiliate, Robinhood Credit, Inc.‬‭(“RCT”). Gold subscription fees are disclosed in the‬‭Fee Schedule‬‭.‬‭Margin Interest‬‭:‬‭Robinhood charges a percentage on funds you borrow to purchase securities in a margin account.‬‭Other Fees and Costs‬‭:‬‭Robinhood charges other administrative fees, such as regulatory and exchange fees, and fees for‬‭certain paper copies of account documents as outlined in our‬‭Fee Schedule‬‭.‬‭Underlying Fees Associated With Investments:‬‭You will pay management fees (expense ratio) or other charges for‬‭ETFs you purchase, which are explained in more detail in the ETF’s prospectus.‬‭ ou will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount‬Y‭of money you make on your investments over time. Please make sure you understand what fees and costs you are paying.‬‭For more information about fees and costs, please refer to the Robinhood Fee Schedule in the App or website, as well as‬‭the securities prospectus where applicable. Fees may change without notice and any changes will be reflected in the‬‭Fee‬‭Schedule‬‭.‬‭ onversation‬‭starters:‬‭Help‬‭me‬‭understand‬‭how‬‭these‬‭fees‬‭and‬‭costs‬‭might‬‭affect‬‭my‬‭investments.‬‭If‬‭I‬‭give‬‭you‬‭$10,000‬
C‭to‬‭invest,‬‭how‬‭much‬‭will‬‭go‬‭to‬‭fees‬‭and‬‭costs,‬‭and‬‭how‬‭much‬‭will‬‭be‬‭invested‬‭for‬‭me?‬‭Responses‬‭to‬‭these‬‭questions‬‭can‬‭be‬‭found at:‬‭rbnhd.co/crs-rs‬‭.‬‭1‬‭of‬‭2‬

‭RHF Customer Relationship Summary‬‭ hat are‬W
‭your legal‬‭obligations‬‭to me when‬‭providing‬‭Recommend-‬‭ations?‬‭ ow else‬H‭does your‬‭firm make‬‭money, and‬‭what conflicts‬‭of interest do‬‭you have?‬‭ hen‬‭we‬‭provide‬‭you‬‭with‬‭a‬‭recommendation‬‭,‬‭we‬‭have‬‭to‬‭act‬‭in‬‭your‬‭best‬‭interest‬‭and‬‭not‬‭put‬‭our‬‭interest‬‭ahead‬‭of‬‭yours.‬
W‭At‬‭the‬‭same‬‭time,‬‭the‬‭way‬‭we‬‭make‬‭money‬‭creates‬‭some‬‭conflicts‬‭with‬‭your‬‭interests.‬‭You‬‭should‬‭understand‬‭and‬‭ask‬‭us‬‭about‬‭these‬‭conflicts‬‭because‬‭they‬‭can‬‭affect‬‭the‬‭recommendations‬‭we‬‭provide‬‭you.‬‭Here‬‭are‬‭some‬‭examples‬‭to‬‭help‬‭you‬‭understand what this means:‬
I‭ntraFi Network Deposit Sweep Program.‬‭Robinhood gives‬‭you the choice to have your uninvested cash in your‬‭brokerage Account deposited into an insured account at one or more Program Banks. We earn money on the difference (or‬‭spread) between the rate at which the Program Bank pays you for the cash and the fees paid to us by the Program Banks‬‭for the use of your cash, so Robinhood has an incentive to send your cash to the Program Banks, and you receive a lower‬‭yield than if the Program Banks did not pay us a fee.‬‭ ayment‬‭for‬‭Order‬‭Flow.‬‭Robinhood‬‭earns‬‭revenue‬‭from‬‭your‬‭trade‬‭activity‬‭and‬‭therefore‬‭has‬‭a‬‭monetary‬‭incentive‬‭for‬P‭you‬‭to‬‭trade‬‭more.‬‭Specifically,‬‭we‬‭earn‬‭revenue‬‭from‬‭third-party‬‭market‬‭centers‬‭to‬‭which‬‭we‬‭route‬‭customer‬‭orders,‬‭so‬‭we‬‭have‬ ‭an‬ ‭incentive‬‭to‬‭route‬‭orders‬‭to‬‭market‬‭centers‬‭that‬‭pay‬‭or‬‭rebate‬‭us‬‭for‬‭such‬‭orders,‬‭subject‬‭to‬‭our‬‭best‬‭execution‬‭requirements.‬‭ rincipal Trading.‬‭RHS is responsible for executing‬‭your fractional share orders. When RHS has sufficient inventory in its‬P
‭principal account to facilitate your fractional orders, RHS‬‭may execute‬‭your fractional orders in a principal‬‭capacity.‬‭RHS‬‭may also‬‭source shares from the market and provide‬‭you with the same price that RHS received from the market in a‬‭riskless principal‬‭or agency‬‭capacity. When it acts‬‭as principal, RHS may make money or lose money on a transaction,‬‭depending on a variety of factors. For more information on money RHS can make from trading activity please see our 606‬
‭Report within the‬‭Disclosure Library‬‭.‬‭Examples of Other Revenue Robinhood Receives:‬‭‬●‭●‬I‭nterest on uninvested cash deposited in interest-bearing bank accounts outside the Sweep Program.‬‭Stock loan income from lending the stocks you purchase on margin or through your participation in the‬‭fully paid‬‭securities lending program‬‭.‬‭●‬‭Payment from a third-party for services rendered in distributing new securities issues.‬‭ onversation starters:‬‭How might your conflicts of‬‭interest affect me, and how will you address them?‬‭Our response to‬C
‭this question can be found at:‬‭rbnhd.co/crs-rs‬‭.‬‭ or more information about conflicts of interest,‬‭please visit the‬‭Robinhood Disclosure Library‬‭and‬‭the‬‭RHF Regulation‬
F‭Best Interest Disclosure‬‭.‬‭ ow do your‬H‭financial‬‭professionals‬‭make‬‭money?‬‭ obinhood Financial professionals do not receive commissions or other compensation related to client assets or clients’‬R‭investment activities. In limited circumstances, some employees may receive incentive compensation tied to the overall‬‭success of certain products, including our Portfolio Recommendations and Stock Lending Recommendations products.‬‭Robinhood Financial professionals receive salaries and bonuses that are based on their overall job responsibilities and‬‭performance.‬‭ o you or‬D‭your financial‬‭professionals‬‭have legal or‬‭disciplinary‬‭history?‬‭ es. Visit Investor.gov/CRS for a free and simple search tool to research Robinhood and Robinhood Financial‬Y‭professionals. You can also find additional information about our financial professionals and the firm at‬‭https://brokercheck.FINRA.org‬‭:‬‭Robinhood Financial’s‬‭CRD number is 165998.‬‭ dditional‬
A‭Information‬‭ or‬‭more‬‭information‬‭about‬‭our‬‭services‬‭or‬‭financial‬‭professionals‬‭or‬‭to‬‭request‬‭an‬‭up-to-date‬‭version‬‭of‬‭this‬‭Form‬‭and‬F‭our‬‭Written‬‭Responses,‬‭please‬‭see‬‭our‬‭Disclosure‬‭Library‬‭,‬‭email‬‭help@robinhood.com,‬‭visit‬‭robinhood.com/contact‬‭,‬‭or‬‭call (650) 772-5277.‬‭ onversation starters:‬‭As a financial professional,‬‭do you have any disciplinary history? For what type of conduct?‬‭Our‬C‭responses to these questions are found on our website:‬‭rbnhd.co/crs-rs‬‭.‬‭ onversation starters:‬‭Who is my primary contact person?‬‭Is he or she a representative of an investment adviser or a‬C‭broker-dealer? Who can I talk to if I have concerns about how this person is treating me?‬‭Our responses‬‭to these‬‭questions can be found at:‬‭rbnhd.co/crs-rs‬‭.‬‭2‬‭of‬‭2‬

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