'RIA Reflections' went live today under ex-IN reporter Ryan Neal, who oversees the 'story-sharing platform' for Robinhood's RIA custody acquiree TradePMR

In the biggest news since its sale to Robinhood, TradePMR's Ryan Neal is set to launch a new industry website that shuns… news. 

“RIA Reflections," will be the industry’s “first forum for exclusively sharing personal perspectives," according to the company.

The publication went live today (Feb. 12), after pre-announcing the launch on Feb. 3. It is intended to “offer a unique window into the lives of those in wealth management and financial planning,” but no news. 

TradePMR President and CEO Robb Baldwin and Neal declined to be interviewed, but Neal answered emailed questions to explain the concept.

“It is not a news outlet,” says the senior editor, Columbia Journalism School grad, and former InvestmentNews technology editor and writer. 

“However, if someone wants to share their personal perspective of how an industry news event impacted them, we would welcome that story for consideration,” he adds.

Baldwin has given the endeavor his full backing. He equates his establishment of the new publication with the custodian itself.

“In establishing TradePMR, I sought to create a custodial platform distinctly focused on RIAs and their specific needs,” he says in the Feb. 3 release. 

“This is a media platform created with the same intention — to share the unique stories within our industry with our peers, so we can continue to learn and grow together." 

Sharing stories

“Featuring compelling first-person narratives from financial advisors, executives, and thought leaders, 'RIA Reflections' offers a unique window into the lives of those in wealth management and financial planning,” a release states.

Because it depends on RIA submissions, the publication schedule won't follow strict deadlines. It also does not have a revenue source such as subscription fees or advertising.

“We are hoping to publish new content weekly, but it will depend on the flow of stories we receive,” Neal says.

MarketCounsel's Anthony Stich, RIA Tim Whitney, and Baldwin and Neal currently have essays published on the website. 

In his contribution, Neal invites people to cut out the journalistic go-between. He writes RIA Reflections is “a platform for people to say what’s on their minds, without having to go to a reporter.”

Ryan disabused the idea he might pen something on software based on his legacy skills and reputation on the subject.

“The goal of RIA Reflections is to provide a space for the RIA Community to share personal stories from a first-person perspective, not to cover the news – software or otherwise,” he reiterated. 

Focus on needs

The RIA Reflections name echoes long-time advisor publication Advisor Perspectives, though the latter tends more toward asset management topics.

"We hope 'RIA Reflections' will serve as a voice for the wealth management industry, and we can’t wait to see how our new platform could facilitate conversation, information sharing, and, ultimately, growth and community for financial professionals,” Baldwin says.

Of course, any action taken by TradePMR will eventually need acquirer Robinhood's approval, once the merger is consummated. The deal's closing is still to be scheduled, but Robinhood guides that it will happen in the first half of 2025.

“The plan is for RIA Reflections to continue after the pending acquisition closes,” Neal said.

RIA Reflections follows Franklin Templeton's AdvisorEngine launch in 2022 of Action!, led by another former technology journalist, and Columbia journalism school graduate, Suleman Din. See: With 'Junxure' reboot a driver, RIA publication startup springs to life with Financial Planning magazine veterans, Franklin Templeton footing the bill and Suzanne Siracuse and Brian Hamburger on the board

Booming bottom line

Robinhood itself is booming after reporting earnings today. Its quarterly (ended Dec. 31) revenues surpassed $1.01 billion, up 115% from the fourth quarter of 2023. 

The stock (HOOD) soared to $55.91, up $2.57, or 4.82%, in regular trading, but leaped ahead after hours. It rose 15.36%, or $8.59, to close at $64.50 in the late session. 

“We did over $1 billion in revenue for the first time,” CEO Vlad Tenev said in an earnings call. “It capped off a record-breaking year for the company.”

It accomplished those earnings without its robo-advisor. See: Robinhood is launching plain-vanilla robo-advisor, an RIA that allocates with algorithms, but walks back intent to use AI and will rely on human teams to pick investments

Or TradePMR. See: TradePMR sale to Robinhood sends ripples through the RIA industry both for its potential to rival big custodians and for the discount broker's potential clash with fiduciary culture

Or betting revenues. See: Robinhood pushes back, with force, after CFTC's 'shocking and stunning' rejection of its 'contract' betting bid, after gleaning affirmation in review process

Huge opportunity

Tenev sees his company adding myriad revenue streams soon enough. 

“We see a huge opportunity ahead of us as we work toward enabling anyone, anywhere, to buy, sell, or hold any financial asset and conduct any financial transaction through Robinhood.”

The company achieved a market cap of $47 billion – more than enough “currency” to buy and revamp TradePMR, and support its RIA story-sharing website.