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Advisor IPO Access with TradePMR by Robinhood

Help your clients participate in select Initial Public Offerings directly in Fusion.

Stand out with your clients.

For growth-minded, future-focused RIAs, Advisor IPO Access could establish your firm as a truly differentiated wealth manager.

With several high-profile companies poised to enter public markets, investor demand to participate is expected to increase.

Advisor IPO Access from TradePMR by Robinhood is designed to bring select IPOs directly to eligible advisors on the Fusion platform, giving you a powerful new tool to help strengthen your value proposition and deepen ties with your best clients.
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Why This Matters for Your Firm

Set your RIA apart

Offer clients the opportunity to participate in IPOs, historically an offering type with limited availability at the independent advisor level. (IPO investments involve significant risk; see disclosures below).

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Democratize Access

TradePMR and Robinhood are helping independent financial advisors provide IPO investment opportunities to clients without the infrastructure constraints that have historically limited independent advisors.

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How it Works

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1. Upcoming IPOs that TradePMR by Robinhood has access to will appear in a dedicated tab in Fusion.
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2. Eligible RIAs will be able to submit interest at a client/account level.
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3. On the date of the IPO, allocated shares will be distributed.

How do I get access?

Access Requirements

  • Eligibility due to Operational Efficiency. Amount of Assets Under Custody (AUC) with TradePMR by RIA: $10M AUC.

  • Additional eligibility conditions, including account-level suitability requirements and applicable FINRA restrictions, may apply.

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Distribution/Operational Overview

TradePMR by Robinhood receives a limited number of shares for each IPO. We use the number of shares, client demand, and other factors to determine how many shares clients will receive. Clients may receive the full number of shares requested, a partial amount, or none at all.

Not all clients who request IPO shares will receive them. Market demand varies for every IPO. High-demand IPOs may decrease the likelihood of receiving the requested amount of shares or receiving shares at all.

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Frequently Asked Questions

What is Advisor IPO Access?

Advisor IPO Access is a feature powered by TradePMR by Robinhood that allows you to invest on behalf of your clients and get in at the initial IPO price before a company starts trading on public exchanges.

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How does TradePMR by Robinhood provide access to IPOs?

TradePMR provides IPO access to qualified advisors and their clients through the Fusion platform.

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Who gets access and what are the account minimum requirements?

Authorized advisors who have completed their FINRA attestations can access the IPO landing page. To submit an offer for a client, the client's account must meet a $100,000 valuation minimum. Restricted accounts do not qualify and any restrictions must be lifted before submitting an IPO offer for a client.

Why is there a $100,000 account value minimum to be eligible?

The offering was built with an allocation framework that supports minimum allocation thresholds to prevent economically meaningless allocations. Advisors have fiduciary obligations; small per-account allocations create administrative overhead without meaningful investment outcomes.

What account types are eligible?

All non-closed, active account types that can hold positions are eligible.

How do I get authorized for IPO access in Fusion?

Firms must meet the eligibility requirements outlined above. If the firm is eligible, current Fusion users with practice administration access will have IPO access. If user permission changes are needed for IPO access, a practice administrator at your firm must submit a “General Support” service request in Fusion with details on which users should be updated. For details on this administration access and how to modify permissions, please review the following insight page.

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How do I know when to take action on an IPO?

The IPO process is highly time-sensitive. You will receive targeted Message Center notifications via Fusion’s Message Center at critical milestones: when a new filing is available, when the Indication of Interest (IOI) window opens, and when the urgent Conditional Offer to Buy (COB) window opens.

Please note that email notification alerts for Message Center must be enabled to receive these notifications outside of Fusion

How do I request IPO shares?

You must request shares during the IOI phase. The share amount can be adjusted up until the COB window. The COB window typically opens after the market closes the day before the IPO launch (T-1). This phase lasts approximately two to five hours and strictly closes at 11:59 PM ET that same night. 

After the initial IOI is submitted, you will receive a notification via Fusion’s Message Center when the COB window has opened. You must submit offers during the COB window in order to complete the process of requesting shares.


Can I change my clients’ allocations?

Share amounts can be adjusted during the IOI phase. During the COB window, you are able to delete accounts, for which you have indicated interest, or resolve restricted accounts prior to your final submission. However, share allocations cannot be adjusted during the COB window. 


Why did my client receive fewer shares than requested?

In cases where demand for an IPO exceeds the available supply, shares are distributed using a pro-rata allocation methodology.

Why was my client’s offer cancelled?

The reason a client’s offer might have been cancelled can range from the account being restricted, not meeting the $100,000 valuation minimum, among others.

How quickly after shares are allocated am I able to trade the IPO?

Advisors remain free to sell IPO shares received through Advisor IPO Access at any time in the secondary market. However, any sale of IPO shares within 30 calendar days of the IPO date (a 'flip') will result in a suspension from participating in future IPO allocations through Fusion, consistent with FINRA Rule 5131. This restriction applies at the account level. For full details, please review the Advisor IPO Access Terms and Conditions.

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Ready to learn more?

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© 2026 TradePMR, Inc.
Securities offered through TradePMR Inc, Member FINRA/SIPC.
TradePMR, Inc. is a wholly owned subsidiary of Robinhood Markets, Inc.
Disclosures

IPO investments involve significant risks, including but not limited to: high price volatility, limited publicly available financial information, potential for substantial loss of principal, lock-up period restrictions, and the risk that the market price may decline below the offering price. IPO investments may not be suitable for all investors. Advisors should independently evaluate whether any IPO investment is consistent with their fiduciary obligations and each client's investment objectives, risk tolerance, and financial situation. 


Securities products and services are offered through Trade-PMR, Inc., member FINRA/SIPC. TradePMR is a wholly owned subsidiary of Robinhood Markets, Inc. Securities held in your account are protected by SIPC up to applicable limits.


TradePMR, Inc. is a registered broker-dealer, member FINRA/SIPC, and a wholly owned subsidiary of Robinhood Markets, Inc. This email and any attachments may contain confidential or privileged information. If you are not the intended recipient, please delete it and notify the sender; any unauthorized use or distribution is prohibited. Nothing in this communication constitutes an offer, solicitation, or recommendation of any security or investment strategy. Trade orders, account changes, and time-sensitive instructions are not accepted via email. Electronic communications with TradePMR may be monitored and retained to comply with regulatory requirements. Investing involves risk, including possible loss of principal. For additional disclosures, please visit: www.tradepmr.com.