One reason is that it’s hard to feel like you’re moving ahead in life when you associate with your parents’ brands. Every generation wants their own stuff. The odds of getting a 16 year old hooked on Seinfeld or Alanis Morissette round to zero – they are social hand-me-downs. Morgan Stanley could make the indisputably best robo advisor and millennials would still prefer Betterment. That’s how Charles Schwab blossomed in the 1980s and 1990s; with a brand baby boomers felt was theirs,...
Robinhood caused a stir in the trading community, especially among the millennials, when they introduced zero commission trading in 2013.
Trading commissions have been declining for many years but zero was a big thing – nothing beats free.
To top that off, Robinhood’s app features a sleek design and good user experience that even Apple would approve of.
It’s packaged to speak to the current generation, as Morgan Housel puts across nicely,
