Summary
The authors believe that Robinhood has the potential to outpace overall asset growth in the self-directed industry as its client base grows and matures, despite currently having a small share of U.S. self-directed assets.
Key Points
1. Robinhood has a relatively small share of U.S. self-directed assets, but a significant share of self-directed brokerage accounts.
2. There is room for Robinhood to outpace overall asset growth in the self-directed industry as its core client cohort matures.
3. The authors believe that Robinhood has the potential for significant growth in the future.