Pros explained
- Operates as a fiduciary: Fisher Investments adheres to a fiduciary standard, meaning its advice should reflect your best financial interest. Additionally, Fisher Investments is fee-only, meaning advisors are compensated through fees and not commissions.
- Builds tailored portfolios: After getting familiarized with your goals and financial situation, Fisher Investments offers customized advice and constructs tailored portfolios. Various assets are implemented to carry out your strategy.
- Dedicated investment counselor for your portfolio: Fisher Investments will assign a dedicated advisor to your portfolio, so you’re working with someone who understands your financial situation and goals.
Cons explained
- High account minimum: In most cases, you must have at least $1 million in investible assets to work with Fisher Investments. The company can choose to waive the requirement and open an account with a smaller amount, but that’s not likely.
- Relatively high AUM percentage: The average AUM fee is 1.05%, according to Envestnet. Fisher Investments charges 1.25% for those at the lowest tier, and charges up to 1.50% for clients who are allowed to invest below the $1 million threshold.
Who should consider Fisher Investments?
Fisher Investments might be an attractive choice for high-net-worth individuals who want to take a hands-off approach to portfolio management. It can be a good fit for someone who has a significant nest egg and wants it managed for income purposes.
Most beginning investors, or those who want more comprehensive planning, might prefer another financial advisor.
Other key Fisher Investments features
Fisher takes an active, customized approach when investing on behalf of its clients. Active investing involves trading more often in an attempt to achieve better returns compared to the overall market. The firm also employs a top-down approach to investing, which emphasizes first analyzing the macroeconomic forces shaping the market before choosing individual securities when building a portfolio. By contrast, a bottom-up strategy starts with picking individual securities that have the highest likelihood of performing well.
If you want to work with a wealth management firm that takes a hands-on approach to investing, you might like an active manager like Fisher.
In addition to its portfolio management and financial planning services, Fisher Investments also offers annuity evaluations for its clients. Fisher holds the view that annuities often fail to meet investors’ needs, and it can analyze your annuity to determine if it’s the right fit for you.
Clients with assets exceeding $5 million get access to Fisher’s premier wealth management, which comes with a dedicated team that includes an investment counselor, a financial planning counselor, estate planning and tax specialists, a portfolio analyst and other professionals.
Good to know about Fisher Investments
Fisher Investments was founded in 1979 by Ken Fisher. It has over 190,000 clients globally and manages more than $362 billion.
Fisher has a handful of local offices in Arizona, California, Colorado, Illinois, Texas and Washington, plus representatives throughout the U.S. The firm says that its professionals are available for both virtual and in-person meetings, regardless of your location.
Fisher has no disclosures on its Form ADV filed with the SEC. Firms are required to disclose disciplinary histories for themselves and their employees. This could include regulatory actions, bankruptcy filings or criminal proceedings in which they were involved.
If you’re a high-net-worth individual looking for an advisory firm that offers customized portfolios and active investment management, Fisher Investments might be worth exploring. You can also check out some of Buy Side’s best financial advisor firms, which include companies with no minimum asset requirements and lower fees.
