Robinhood is a suitable choice for beginners and those seeking commission-free trading with a focus on stocks, ETFs, options, and cryptocurrencies. Goldman Sachs Personal Financial Management is better suited for high-net-worth individuals who require personalized financial planning, a wide array of investment options, and access to financial advisors, but it comes with higher account minimums and fees.
| Attribute | Robinhood | Goldman Sachs Personal Financial Management |
|---|---|---|
| Investment Options | Stocks, ETFs, options, and cryptocurrencies are available. Fractional shares are offered, allowing investments with as little as $1 (February 24, 2025). Does not offer mutual funds or bonds. | Wide range of asset classes including cash, fixed income, equities, and alternative investments like private equity and hedge funds. Custom investment vehicles. |
| Account Minimums | $0 for standard accounts (February 24, 2025). $2,000 minimum is required for margin accounts (May 23, 2025). | Generally requires a minimum asset amount of $500,000. Institutional clients: $2,000,000. Minimums may be waived. Wrap fee programs: $100,000 minimum. Family office services: minimum investment required. |
| Commission Fees | $0 commission for stocks, ETFs, options, and cryptocurrency trading (February 24, 2025). Regulatory transaction fees apply to sell orders (January 1, 2024). | Annual advisory fee (generally does not exceed 1.5%). U.S. and Canadian stocks: $0.03 to $0.06 per share. |
| Trading Platform | Web and mobile platforms are offered (June 18, 2025). | Primarily web-based. Mobile app available (GS PWM). |
| Research and Educational Resources | Provides basic educational resources (March 2025). | Educational seminars and workshops. Periodicals and newsletters. Market insights through wealth management services. |
| Financial Advisor Access | No direct access to financial advisors is available (May 21, 2025). | Yes, access to financial advisors for in-depth planning. |
| Automated Investing (Robo-advisor) | Robinhood Strategies is a robo-advisor service with a 0.25% management fee (April 2, 2025). | Marcus Invest is closing and digital investing accounts are being sold to Betterment. |
| Account Types | Taxable brokerage accounts, Traditional IRA, and Roth IRA are available (December 20, 2024). | Advisory services for retirement accounts and plans. Asset allocation and manager selection tailored to tax sensitivity. Trust and Estate Services. |
| Customer Support Channels | Customer support is primarily through email, with limited live chat or phone support (2025). | Personalized financial planning and investment management services. |
| Security and Insurance | Offers two-factor authentication, biometric login, and encryption (January 16, 2025). SIPC insurance protects securities up to $500,000 (including $250,000 for cash) (January 16, 2025). | UpGuard continuously monitors the security posture. |
| Mobile App Rating | 4.3 with 4.5 million ratings (App Store) (2025). | GS PWM app: 4.5/5 in the App Store. |
| User Interface and Experience | Known for its clean, user-friendly interface, designed to simplify investing for beginners (July 27, 2023). Intuitive and easy to navigate, especially for beginners (July 27, 2023). Charting tools include line graphs and candlesticks with basic indicators (2025). | Building a new website and a new mobile app. |