New Robinhood Joint Accounts- First Look

Now Robinhood is giving joint accounts without any added cost, but are they actually ready to go and worth using? Lets talk about it

I reserved my spot for the new Robinhood Gold Card! Here’s my link so you can get access, too.

⏱Handy Timeline:
0:00 Joint accounts
0:47 Why?
1:29 Benefits
2:28 Overall
3:00 How to open joint account
3:45 What it CAN do
5:00 What it CANT do yet
7:44 No crypto
7:58 No added cost
9:00 Who else does this?
9:30 Secret
9:38 Classes
9:55 Stock lending

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Disclaimer: Any financial or investing-related topics discussed on this channel are not from a professional investment advisor and are not financial advice for you. This is for entertainment and inspirational purposes only. My opinions are not reflective of the companies mentioned in the video. Also please know that many of the links I have in video descriptions like this one are affiliate links which means I may be compensated by the company whom you do business with at no extra expense to you. Thank you for your support!

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[Xairos]

Rh needs to have a dividend tracker and they would 100x their base.

[EfLuis]

If Robin Hood had a pie allocation type system like M1, then I would be very serious about switching to them

[nathanrainer]

Joint! I want to see other videos from other brokerages

[joaquinsanchez]

i got alot of info out of this video, thank you

[beanbaggamer]

I agree with you. I'll wait till they add some features like drip and to transfer assets

[GuardedLegacy]

I've had a joint brokerage account with Vanguard for about 8 years. Actually, running into problems trying to transfer into Robinhood is what brings me to your video.

[rookandpawn]

That's lame. No investing in options on the joint account? Also how do withdrawls work? Each partner gets to independently withdraw to where they want?

[Carsonkcooper]

I really enjoy your videos man! Especially the different brokerage firms/apps!

[jotdhami]

Why wouldn’t there be no feature of not being able to put any ordere besides market, that literally makes no sense lol, but looks like they are trying to release it as a alpha mode or not fully complete yet but regardless it’s a step in the right direction for people trying to invest and grow together 👍

[dthom]

yes, make that video. Ideally, daily recurring auto investing, individual to joint account transfer and pies or baskets,

[dawnross]

Joint, I want to open accounts with all of my children to invest in crypto, do you know where I can do this? Just opened an account in RH with my daughter and was disappointed about the lack of crypto trading.

[shanjeevkumar]

Would appreciate review of other joint accounts, especially with regards to features like options trading and recurring investments.

[EDNICK]

Joint account still waiting on my credit card 🤦🏽‍♂️

[ffSleepy]

So this creates one account or a third account to deposit stocks/cash into?

[robyaggie]

Hey Brendan, I've watched a few of your videos in the past and congrats on your following and dedication to content creating. I hesitate to offer constructive criticism because some people are so sensitive and don't want to hear it but know I mean well (and I'm old so I'm starting to care less about how I come across... lol). You lost a bit of credibility with your lack of knowledge in this video. Although I would have expected you to know about ACATS transfers, that wasn't it. It was your comment about the in-kind transfer limitations. You said you probably would want to do that with your IRA too since it should be joint with your wife (or your desire that finances be combined). By definition an IRA is an "individual" account so you certainly can't move them to a joint account and that isn't what they were saying. They meant you can't do in-kind transfers between YOUR IRAs (plural) if you have 2 IRAs with them and secondly you can't do in-kind transfers from an individual account to the joint account (a valid concern as you correctly pointed out).

If you want to dig deeper though, I think I would be more concerned about the restrictions on beneficiaries for your RH accounts. Hint 1: You can't specify different percentages for each primary (ex. can't do 50% to wife, 25% to kid 1, 25% to kid 2). Hint 2: No contingent beneficiaries (ex. Can't do 100% primary to wife and then 50% to kid 1 and 50% to kid 2 as contingents... yikes, hello probate).

Anyway, take my comment for what it is worth and keep growing. Best.

[OlenDalton]

You should do an update on this feature.

[Just_another_dads]

My wife doesn’t work and I want to open her a spousal roth ira would this be the place to do it?

[crynoob]

How do taxes work on a joint account? Who is responsible for the tax? What if you have more money in there then your joint co owner. How do they calculate that?

[GordonGavin]

Joint accounts are a great way for your partner to legally steal all your money.

[Ezikiel]

Does joint work if I add my cash app individual account to Robinhood account