I actually think RH will be good for low cost brokers like IBKR and Tastyworks long term. I think there's a lot of young professional out there who think getting in to the market is a huge hurdle/hassle (beyond 401Ks I mean), but then they discover RH. It makes investing easy. Some of these will want to look to see what else is out there and they will come across more traditional brokers like IBKR. These will be a new group of users who otherwise wouldn't have bothered with stock trading had RH not made it so accessible to them. I think brokers like TDA, Schwab, ETrade, won't get the RH crowd that's seeking something better simply because these people are used to paying $0 commissions, but when they start realizing how much margin is costing them and the wasted time due to the poor interface of RH, they will consider brokers like IBKR.