SEC 8-K News



2024-08-26 11:41:16

Financial Gravity Companies, Inc. has reported that Marathon Financial Group, LLC is terminating long-term agreements with the company's registered investment advisor subsidiaries. Previously, Financial Gravity acquired client accounts from Marathon and earned fees from the assets under management, contributing approximately $350,000 annually to their cash flow. Marathon has started reclaiming the assets under management, which could potentially lead to a $350,000 drop in cash flow for the fiscal year 2025, possibly resulting in a net loss. Financial Gravity disputes Marathon's claims and will seek legal enforcement of the agreements. The company is currently assessing the situation's impact and will provide updates as developments occur.

  • Financial Gravity Companies, Inc.
  • Marathon Financial Group, LLC
  • Scott Winters