The online brokerage adds professionally managed mutual funds to retirement accounts, targeting self-directed investors seeking diversification.
Webull has introduced mutual funds for IRA accounts, enabling customers to access professionally managed portfolios directly on its platform. The feature is currently in beta for select U.S. users, with a full rollout planned for all IRA accounts later this year.
The move follows Webull’s expansion into advisory services, including BlackRock model portfolios in 2024 and futures trading in 2023. The platform, initially launched as an equities-trading service in 2018, has steadily broadened its product lineup to compete with traditional financial advisors.
Webull stated the addition aims to simplify retirement planning by consolidating investment options within a single interface. Support for ACAT transfers of mutual fund positions is expected in future updates.