Zacks will pay Trump $3.8 million, according to a new report.
The investment firm, which has been in the news for its aggressive trading strategies and aggressive price target for stocks, will be paid by the Trump Organization, according the Wall Street Journal.
Zacks chief investment officer Mark Krikorian said in a statement that Trump will “have the benefit of a team that is among the best and most experienced in the industry, including more than 100 analysts, investors, traders and clients, many of whom are also Trump allies.”
The company has said it plans to hire at least 30 more analysts and analysts in the coming months, adding that it plans “to add additional hires in the future.”
Zacks had its biggest annual profit in 2018, thanks in part to the rise of cryptocurrency, according CNNMoney.
The company’s stock has been trading up nearly 60% over the past three years, according its website.
It has been criticized for its high volatility, high fees and lack of transparency.
The firm has also been accused of being too much of a “front for Wall Street,” CNNMoney noted.