Public Launches Reserve Membership Tier to Unlock $4,000 in Annual Value for Investors

Public has launched a new "Reserve" membership tier designed to capture a larger share of wallet from sophisticated retail investors by offering aggressive yield and matching incentives. By shifting previously gated premium features to its free tier while introducing a $20 monthly subscription, the brokerage is pivoting toward a high-value membership model to drive long-term asset retention.

What was announced

The new Reserve tier is priced at $20 per month and aims to provide over $4,000 in annual value through a combination of higher interest rates and investment matches. Key features include a 3.75% APY on cash with no fees or minimums, and a 4% match on IRA contributions—four times the standard rate offered by the platform. This match is credited as additional income that does not count toward the user's annual IRS contribution limit.

Furthermore, Reserve members can earn a 1% annual match on up to $250,000 invested in Generated Assets, representing a potential $2,500 yearly benefit. The tier also includes a 0.5% annual match on up to $250,000 held in Treasury Accounts or Direct Indexing products, alongside priority customer support. These incentives are designed to encourage users to consolidate their diverse holdings within the Public ecosystem.

In tandem with the Reserve launch, Public has democratized its existing premium toolset. All members, regardless of subscription status, now have access to extended hours trading, waived OTC trading fees, and free investment plans and bond accounts. Index option contract fees have been set at $0.35 per contract for the entire user base, and all data and key metrics that were previously behind a paywall are now accessible to all investors on the platform. This shift effectively moves the platform's monetization strategy from charging for information to charging for enhanced financial performance and priority service.

"As Public continues to serve sophisticated investors, we saw an opportunity to evolve our subscription offering around what matters most: improving the after-tax, after-fee returns our members earn. Reserve's enhanced 3.75% yield on HYCA and 0.50% match on Treasury Accounts create a compelling value proposition for investors looking to put more of their cash to work—whether they're building an emergency fund, saving toward a near-term goal, or optimizing the income-generating portion of their portfolio."

Stephen Sikes, COO at Public.

The companies involved

Public describes itself as the world’s first "Agentic Brokerage," a positioning that emphasizes the use of AI and a broad spectrum of asset classes to help investors build long-term portfolios. Headquartered in New York City, the company launched in 2019 and has since grown to manage billions in assets for affluent investors. Its platform is notable for its multi-asset approach, allowing users to trade stocks, bonds, cryptocurrencies, and options within a single interface.

The firm has secured significant backing from major venture capital players, including Tiger Global and Accel. This institutional support has fueled its expansion from a social-focused stock trading app into a comprehensive wealth management platform. Public’s evolution reflects a broader trend in the fintech sector where brokerages are moving beyond simple transaction fees toward subscription-based models and high-yield cash management products. By positioning itself as an "Agentic Brokerage," Public is signaling a shift toward more automated, AI-driven investment tools designed to assist users in navigating complex market environments and diverse asset categories.

What FF News has reported before

FF News has closely followed Public’s expansion and its integration of advanced financial technologies. In late 2025, the platform significantly broadened its product suite when Public Launches Fully Customizable Direct Indexing, a move that brought institutional-grade tax-loss harvesting and customization to retail investors. The company’s international ambitions were highlighted earlier in its journey when Trulioo Partners With Public for Its UK Launch, facilitating its entry into the British market.

More recently, the brokerage has been part of broader industry shifts toward digital banking and crypto infrastructure. This includes the integration of flexible payment options, as seen when Snappi Pay Later Launches on Public to Enhance Digital Banking Flexibility. Additionally, the platform’s capabilities in the digital asset space are supported by industry-wide movements like when Zero Hash Launches Staking Infrastructure for Banks and Brokerages to Meet Rising Crypto Demand, which underscores the technical environment in which Public operates.

What this means

The launch of Reserve signals an intensifying "yield war" among retail brokerages as they compete for the deposits of high-net-worth individuals. By offering a 3.75% APY and aggressive matches, Public is directly challenging traditional banks and established discount brokers who have historically relied on low-interest sweep accounts for profitability. This move puts significant pressure on competitors to either match these subsidies or risk losing "sticky" assets like IRAs. The decision to make previously premium data free suggests that basic investment information is becoming commoditized, forcing fintechs to find value in direct financial incentives and sophisticated AI-driven portfolio management rather than just access to markets.