Robinhood CEO Vlad Tenev said the company uses cryptocurrency, stock trading and prediction markets to attract customers before moving them into longer-term financial products and wealth-management services. He described active traders as the engine and foundation of the business, with trading products helping acquire customers before directing them toward retirement accounts, financial advice and other services. Robinhood is expanding through custodial investment services, asset management, banking and credit cards, and has acquired TradePMR to launch an adviser network connecting customers with registered investment advisers. The company aims to bring services traditionally offered mainly to wealthy clients, including trusts, estate planning and private banking, to a broader customer base. Robinhood had 28 million funded accounts at the end of the second quarter, up 7% from a year earlier, while average revenue per user rose 24%. Tenev has identified a projected $100 trillion intergenerational wealth transfer over the coming decades as an opportunity to offer lower-cost wealth services to a wider population.