Looking at the numbers, in 2021, HOOD majorly depended on transaction-based revenues (almost 75% of total revenues) to generate income. In the first three months of 2024, this came down to nearly 50%.Recent initiatives by the company reflect its ambition to become a full-spectrum financial services provider. Last month, Robinhood announced the $300 million acquisition of TradePMR, a custodial and portfolio management platform specializing in services for Registered Investment Advisors. By foraying into the advisory space, the company will directly compete with established players like SCHW and Fidelity Investments.Moreover, in July, Robinhood acquired Pluto Capital Inc. With the integration of Pluto's advanced capabilities, the company is set to revolutionize the investment experience for its users.