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In a letter to investors, BlackRock Chairman and CEO Larry Fink (BLK) warned of a potential retirement crisis, writing, "America needs an organized, high-level effort to ensure that future generations can live out their final years with dignity."

Robinhood Markets Co-Founder and CEO Vlad Tenev (HOOD) echoes the sentiment, telling Yahoo Finance Executive Editor Brian Sozzi that "People really need to take the initiative to take care of their retirement on their own" adding that "We're kind of past the point where you join a company, you work there for 20 or 30 years or more, and... you can count on the pension plan."

That's why Robinhood is expanding its suite of products. The latest is a new credit card, but it offers savers options to save for retirement too. It's a segment Tenev says is growing: "In the first year, we got up to about $1.4 billion in assets under custody in retirement accounts. And we just announced that yesterday we crossed $4 billion. So it took us about a year to get to $1.5 billion and in the first three months of this year, went from $1.5 billion to $4 billion."

Catch the full interview with Vlad Tenev here. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

Editor's note: This article was written by Stephanie Mikulich.