Hear Me Out: Financial Services Should Cost Something
Courtesy of Joshua M Brown
I did my friend Jeremy Schwartz’s show on XM Sirius, Wharton Business Radio, on Friday. We had a really fun conversation about the business models of Acorns, Robinhood, TD Ameritrade, Schwab, etc – and why if firms are offering a service, there’s nothing wrong with them charging money for it. This is America!
I know it’s become fashionable to play GOTCHA! every time a software company comes along and creates a non-traditional way of doing a traditional Wall Street service. But sometimes the criticism becomes too much. If no one is allowed to make money without having a finger pointed at them, then why even bother getting out of bed in the morning?
I also talk a bit about our hiring and expansion strategy. I hope you enjoy this! Shout to Jeremy and Liquian! Listen below (I come in at the 28 min mark):
