'Woke' brokerages and money managers

 

(Pick either Zachs Trade, InteractiveBrokers, FirstTrade, or Schwab.)

 

fist bord micros JP Morgan Chase - (see our detailed review of JP Morgan Chase) - See under BANKING / LOANS

fist bofa Merrill Lynch - (see our detailed review of B of A / Merrill Lynch) - See under BANKING / LOANS

fist tribal alert-1 Vanguard - Company opposed Georgia's much needed voting reform law. Supporters of ESG nonsense, including "diversity". Together with Blackrock, Vanguard controls both Big Pharma and the mainstream media. Against NC's bathroom bill. Owns 10.3% of the censorship-happy, DNC-aligned, Twitter.

fist tribal alert-1 SoFi - Committed to D.I.E. (AKA discriminate by race, gender, etc), keeps track of employees by race and gender. For "social justice" and to "fight racism" SoFi donated 1 million dollars to groups including The Bail Project and Black Lives Matter. Sofi joined Civic Alliance. Posted a #MeToo video by Trump-hater Mika Brzezinski. Supported Occupy Wall Street. SF-based.

fist tribal alert-1 Morgan Stanley Wealth Management (owns E trade) - Cut off all contributions to Republicans who voted to overturn the 2020 election. Morgan Stanley employee and PAC donations went democrat in 2018 and 2020. Morgan Stanley requires employees to get vaccinated. Hired a "Global Head of Diversity and Inclusion". Their "Morgan Stanley Institute for Inclusion" aims to "drive diversity, equity and inclusion within the firm and under-served communities". Pushing climate change nonsense and the need to "curb carbon emissions". Your body, their choice: Mandated that employees be vaccinated all the way until 8/30/2022. We don't ever recommend money managers or full-service brokerages anyway. They're all too expensive! Always invest via a self-directed account with a brokerage. Note that Morgan Stanley is not the same company as JP Morgan Chase, one of our very most hated companies.

alert-1 E trade (owned by Morgan Stanley)

bord alert-1 Western Union Financial Services - Opposes Trump ending the DACA illegal alien amnesty program.

amer bord NerdWallet - Pulled advertising from Tucker Carlson for supporting merit-based immigration.

fist tribal Invesco - Pushing ESG, pushing global warming nonsense, race-mongering, committed to "diversity and inclusion". One exception: You can invest in ticker symbol RSP. Otherwise, invest in EUSA, ACVF, and Schwab funds.

alert-1 Morningstar - CEO joined other leftists in opposition of Georgia's much needed voting reform law. BTW, never ever ever ever ever pay for financial research. Just buy index funds! Simple! No research required!

alert-1 Ariel Investments (mutual funds) - Opposed Georgia's much needed voting reform bill.

alert-1 Loop Capital ( For corporate, governmental and institutional entities) - Joined other leftists in opposition of much needed voting integrity bills.

fist tribal Four Corners Property Trust (ticker symbol FCPT) - Provides D.I.E. (diversity, inclusion, equity) training to all employees, has an "ESG committee", pushing global warming nonsense, keeps track of employees by gender, boasts that they have 'achieved' pay-equity across genders.

alert-1 Fidelity - According to Project Veritas, Fidelity's charitable organization blocked clients from making donations to conservative journalism organization Project Veritas. Fidelity employee and PAC donations to democrats surpassed Republican donations in 2020. Use a credit union or regional bank.

alert-1 T. Rowe Price - Joined other leftists in opposition of much needed voting integrity bills. We don't ever recommend money managers or full-service brokerages anyway. They're all too expensive! Always invest via a self-directed account with a brokerage.

alert-1 Betterment - CEO, Sarah Kirshbaum Levy joined other leftists in opposition of voting integrity bills.

alert-1 Advent Capital Management LLC - Opposed Georgia's much needed voting reform bill. We don't ever recommend money managers or full-service brokerages anyway. They're all too expensive! Always invest via a self-directed account with a brokerage.

fist Edward Jones - In response to the George Floyd riots, EJ pledged to increase diversity among its financial advisors and senior leadership, thus hiring based on skin pigmentation rather than merit. We don't ever recommend money managers or full-service brokerages anyway. They're all too expensive! Always invest via a self-directed account with a brokerage.

fist alert-1 Goldman Sachs Private Wealth Management - Stopped donations to pro-Trump Republicans. Joined other leftists in opposition of much needed voting integrity bills. We don't ever recommend money managers or full-service brokerages anyway. They're all too expensive! Always invest via a self-directed account with a brokerage.

fist tribal State Street - Supports ESG, has a "Chief Diversity Officer" pushing D.I.E., pushing CO2 global warming nonsense.

alert-1 Acorn Financial Planning - Signed a letter supporting the democrat’s radical “For the People Act”. Not even an American company.

alert-1 Capricorn Investment Group - Signed a letter supporting the democrat’s radical “For the People Act”.

alert-1 Trillium Asset Management - Signed a letter supporting the democrat’s radical “For the People Act”. Promotes ESG.

fist Ally Invest - Discriminates. Obsessed with "diversity and inclusion in the workplace" AKA sometimes having to specifically exclude Caucasians for the sake of meeting a race quota. Teaches critical race theory to employees, urging white employees to "cede power to people of color." Obsessed with diversity. Donations slightly favor Republicans.

china WeBull - Owned by the Chinese company, Fumi Technology. We avoid communist China companies.

 

Honorable mention or guilty by association

2nd = Indicates that broker partners with JP Morgan Chase or BMO Harris Bank to be custodian of cash in accounts.

 

Because there are no perfect choices that we are aware of, we recommend these brokerages, but advise people to limit doing business with their custodial banks whenever possible. Also, hound them to stop doing business with their offending custodial banks.

 

2nd 2nd Charles Schwab (owns TD AmeriTrade) - Schwab is a mixed bag. On the bright side, Schwab has a solid donation record. On the downside, Schwab uses JP Morgan Chase as their custodial bank (when you park cash in your account), so you are doing some business with JP Morgan Chase. Schwab charitable also cut off donations to the NRA. If you use Schwab, then in order to mitigate business with JP Morgan Chase, don't leave a lot of cash sitting in your Schwab account. Either invest it or transfer to your bank account.

2nd amer 2nd TD AmeriTrade (now owned by Schwab) - In 2018 pulled advertising from Tucker Carlson for supporting merit-based immigration, then falsely and laughably claimed to be "politically neutral". TD AmeriTrade's founder gave $315,000 to Joe Biden's campaign. However, the founder, Joe Ricketts pledged $1 million to a pro-Trump super PAC. Most importantly, since then, TD AmeriTrade has been bought out by Charles Schwab. Schwab uses JP Morgan Chase as their custodial bank. If you use Schwab, then in order to mitigate business with JP Morgan Chase, don't leave a lot of cash sitting in your Schwab account. Either invest it or transfer to your bank account.

2nd InteractiveBrokers - InteractiveBrokers is a mixed bag. On the bright side, their employees and PAC's have a stellar donation record. However, IB uses JP Morgan Chase as their custodial bank. InteractiveBrokers also uses ESG score table to rate stocks. At least, so we are told, they do not use ESG to rate their own customers, as Merrill Lynch does. If you use InteractiveBrokers , then in order to mitigate business with JP Morgan Chase, don't leave a lot of cash sitting in your account. Either invest it or transfer to your bank account.

2nd Zachs Trade - Essentially uses Interactive Brokers LLC, to provide custodial banking through JP Morgan Chase, who we boycott. If you use Zachs Trade, then in order to mitigate business with JP Morgan Chase, don't leave a lot of cash sitting in your account. Either invest it or transfer to your bank account. Zachs Trade mirrors InteractiveBrokers' ESG policy. InteractiveBrokers is Zachs' clearing firm.

2nd FirstTrade - Uses BMO Harris Bank, which joined the anti-Trump group StopHateForProfit.

2nd Trade Station - TradeStation's custodial bank is JP Morgan Chase, who we boycott. Headquartered in Florida, but the parent company is Monex Group, a Japanese company. Therefore, you might as well do business with InteractiveBrokers, Zachs Trade, FirstTrade, or Schwab instead.

 

 

Go back to Liberal Companies you should boycott.