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The Tidal Financial Group (Tidal) expanded rapidly over the last decade and encompassed multiple ETF related brands including Toroso Investments, Tidal ETF Services, and the ETF Think Tank. Going forward all activity will be unified under the Tidal brand as we become one company, dream, family, and platform focused on holistic ETF customer solutions.

A Revealing Breakfast with Charles Schwab CEO

The parallels between the restaurant industry and the financial service industry continue to provide me with insights, but I may be alone in my views. Nevertheless, this article in the Blaze entitled ” Charles Schwab CEO reveals how he tests job candidates by taking them to breakfast, having a restaurant mess up their order” made me laugh so I decided to share. https://www.theblaze.com/news/2016/02/22/charles-schwab-ceo-reveals-how-he-tests-job-candidates-by-taking-them-to-breakfast-having-restaurant-mess-up-their-order/amp

The parallels I see in the article:

  • Financial advisors as fiduciaries need to review their business model and decide whether their service model is aligned with a Full Service restaurant (FS), a Quick Service Restaurant (QSR) and or simply a Delivery service.
  • Who your customers are define how you build your business. If you are catering to millennial you will need to align your services with Fintech and a Robo Advisor Delivery Service.
  • If you are catering to the Ultra High Networth, a retainer model or percentage of AUM model makes sense depending upon how much full service you are providing. Obviously a family office model is all about a retainer much like the service provided in a private club, but as a fiduciary you should  be bench-marking what you invest in versus similar ETFs. More to follow in time on this thesis.
  • The side comments made by  Walt Bettinger, the CEO of Charles Schwab, on how he manages  breakfast interviews  highlights a key need in the people he interviews in the financials service industry. Meaning that people in the financial service industry need to be empathetic listeners and NOT get frustrated by small changes and curve balls. Service begins by listening and focusing on your surroundings knowing that in business there is so much that we do not control.
  • Conclusion: What does this have to do with ETFs? Remember  – ETFs are bought not sold! ETFs (ETF Entrepreneurs) need to know who their potential buyer might be and focus less on the expected  performance of their ETF as a solution – definitely not focus on past index performance – and think about what service their ETF will provide in the context of a portfolio. Are they serving caviar as an appetizer/side dish, a $10 McDonalds meal or a Gluten Free/ESG meal?
The Good, The Bad, and The Innovation of ETF Growth

The Good, The Bad, and The Innovation of ETF Growth

Last week, the Toroso Research team attended Inside ETFs in Hollywood,

Low Vol ETF Meaning? You Are NOT Alone If You Are Confused.

Low Vol ETF Meaning? You Are NOT Alone If You Are Confused.

Do my eyes deceive me?

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