available: torches and pitchforks Followed URB for years until they stopped buying back stock despite good performance.
Looks to me like maybe there is a culture problem at Caldwell with respect to its treatment of Urbana as its piggybank.
As an URB shareholder, do you see anything wrong with the following taken from their website quoted below?
The problem is Caldwell Investment Management is not “entirely” employee owned as they advertise – its 20% owned by Urbana shareholders through ownership of 800,000 shares of Caldwell Financial. It might seem like a simple slip-up, or it might reflect ongoing casual contempt for URB shareholders money, which in light of regulator accusations of essentially ripping off their clients (URB being likely their largest client) on brokerage fees suggest the latter to be the more plausible answer.
The board of URB should demand an independent director answerable to the minority URB and economic (class A) URB shareholders be put on the board of Caldwell Financial. One danger of being “employee controlled” is that all the profit can just get paid out as bonus to the employee with nothing left for URB shareholders – don’t think URB has ever seen a dividend for example. Don't think we've seen any financial statement of Caldwell Financial ever.
Will be interesting to see if they change their website after this post.
https://caldwellinvestment.ca/about/
"Caldwell is entirely independent and employee-owned. The integrity and experience of its people are Caldwell’s most valuable asset.
Caldwell Investment Management Ltd. (CIM) is registered as a portfolio manager and investment fund manager with the Ontario Securities Commission, its principal regulator. CIM is also registered as a portfolio manager in British Columbia, Alberta, Saskatchewan, Manitoba and Quebec. CIM is a wholly owned subsidiary of Caldwell Financial Ltd, a 100% employee controlled firm."