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Ryan Fournier criticizes the business model of proxy advisory firms ISS and Glass Lewis. He claims that these companies provide so-called independent voting recommendations for investors' 401(k) and pension plans, then offer paid consulting services to the very same corporations on strategies to secure favorable votes from investors that ISS and Glass Lewis influence.
Fournier characterizes this structure as a conflict of interest within the proxy advisory industry.
Fournier has previously raised concerns about financial sector risks. He commented on crypto ATM scams targeting elderly Americans, highlighting warnings from law enforcement about potential fraud. In a separate note, Fournier observed Brian Armstrong's push into services like direct deposit and lending. These remarks add to his ongoing criticism of industry structures he views as problematic.