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Anti-Woke Asset Management Company Prioritizes Profits Over ESG

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This article was originally published at StateOfUnion.org. Publications approved for syndication have permission to republish this article, such as Microsoft News, Yahoo News, Newsbreak, UltimateNewswire and others. To learn more about syndication opportunities, visit About Us.

An Ohio-based asset management company is introducing a new 401(k) retirement plan for medium and small businesses that prioritizes maximizing shareholder profits over “woke” environmental, social, and governance (ESG) investing priorities.

The CEO emphasized the plan’s focus on shareholder value maximization and criticized the ESG approach used by larger investment firms.

He argued that prioritizing shareholder capitalism has led to more innovation and higher returns in the US compared to Europe. (Trending: Fox News Star Accused Of Major Scandal)

The company also announced a new Direct Indexing service for investors seeking portfolio customization and tax efficiency.

The CEO believes their 401(k) plan will set a new standard for retirement plans and push corporate America to excel.

The plan will “allow employers to offer a customized 401(k) plan specific to their company’s needs while allowing their employees to enjoy Strive’s investment philosophy of prioritizing shareholder value maximization over the interests of other stakeholders,” Strive Asset Management stated.

“We have a simple mission that we take to corporate America: Maximize value, period,” Strive CEO Matt Cole said.

“Corporate America has taken this different approach, ESG, that says we’re going to take stakeholder capitalism, which by definition means you deprioritize the shareholder for other stakeholders. And I think that’s a big fiduciary breach. We reject that.”

“Your retirement plan should be working for you, not against you,” he said.

“Are you willing to accept lower returns in exchange for pushing values in corporate America, yes or no?” Cole asks investors.

“The second question would be, if you were pushing the values, do you agree with the values of racial equity audits in corporate America? Affirmative action? Forced emissions reductions? Do you agree with those values or would you have different values?” he said, noting that such an idea “lowers returns” and “pushes values that are not aligned with the average investor.”

“When you think about that, and you think about a career, the average career being somewhere in the neighborhood of 40 years, a 2,000% difference is basically the difference between being able to retire and not being able to retire,” he said.

“That’s why we care so much about this. And stakeholder capitalism, what it says is that all stakeholders are equal. And in biblical terms, what that means is you can serve multiple masters. My belief is you can only serve one master. … You want to provide your customers with great products, great services, but you do those things as a company to maximize value to your shareholders,” he said.

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