BNY, Robinhood Tapped for Trump Accounts Launch

The new investment accounts aim to provide parents another tax-deferred savings option for their children's future.

Apr. 6, 2026 at 7:25pm

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An extreme close-up of a highly detailed, gleaming metal bank vault door, its complex mechanisms and hinges filling the frame in a dramatic, cinematic composition that conveys a sense of institutional security and financial stability.The new Trump Accounts program aims to provide parents a government-backed, tax-deferred investment option for their children's futures.NYC Today

The U.S. Treasury Department has announced that Bank of New York Mellon and Robinhood Markets will play key roles in establishing the new 'Trump Accounts' - investment accounts designed to help parents save for their children's future in a tax-deferred manner.

Why it matters

The Trump Accounts represent a new government-backed investment vehicle that could significantly impact the personal finance and wealth-building strategies of American families. BNY Mellon and Robinhood's involvement as major financial partners signals the program's scale and importance.

The details

Under the Trump Accounts program, parents will be able to open investment accounts for their newborns and children that offer tax-deferred growth. BNY Mellon will serve as the custodian for the accounts, while Robinhood will provide the trading platform and user experience for account holders.

  • The Treasury Department announced the new Trump Accounts program on April 6, 2026.

The players

Bank of New York Mellon

A major global financial services company that will serve as the custodian for the new Trump Accounts.

Robinhood Markets

A popular financial technology company that will provide the trading platform and user experience for the Trump Accounts program.

U.S. Treasury Department

The government agency that established the new Trump Accounts to provide parents another tax-deferred savings option for their children's future.

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What they’re saying

“We're proud to partner with BNY Mellon and Robinhood to launch this important new savings program for American families.”

— Janet Yellen, U.S. Treasury Secretary

What’s next

The Trump Accounts program is expected to officially launch and begin accepting new accounts in the third quarter of 2026.

The takeaway

The involvement of established financial institutions like BNY Mellon and innovative fintech firms like Robinhood signals the government's intention to make the Trump Accounts program widely accessible and user-friendly for parents seeking new ways to invest in their children's futures.