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Key takeaways
- Fisher Investments is a full-service financial advisor firm that specializes in managing investments for high-net-worth individuals.
- In most cases, you must have at least $1 million in investible assets to work with Fisher Investments.
- Management fees are relatively high compared to other financial advisor firms.
Fisher Investments is a fee-only investment advisory firm catering primarily to high-net-worth individuals. The firm offers personalized portfolio management and uses an active investment approach. Fisher also provides financial and retirement planning as well as annuity evaluation. However, fees are typically higher than the benchmark rate, especially if your portfolio falls below $900,000.
Fisher Investments review
Fisher Investments is a wealth management firm that meets a fiduciary standard. The firm offers financial planning and portfolio management services designed to help you meet your short-term and long-term financial and wealth-building goals.
Fisher Investments, like the name suggests, is investment-focused on behalf of its clients. You get access to a personalized strategy based on your goals, time horizon, cash-flow requirements, income and risk tolerance. Fisher uses a mix of stocks and bonds, along with other assets, to manage your portfolio with an eye toward market conditions and macroeconomic factors.
Overall, Fisher Investments offers financial planning services that include access to advisors who can help with cash flow management, estate and tax planning, maximizing Social Security benefits and reaching other financial objectives. The firm provides each client with an investment counselor whose sole focus is on client service. Based on their client’s needs, they will coordinate with an internal team of specialists to take on specific duties such as tax preparation and operations.
Your advisory team will schedule regular check-ins to update you on portfolio performance and adjust your plan as needed.
Fisher Investments fees and pricing
Fisher Investments uses an AUM model:
- First $1 million: 1.25%
- Next $4 million: 1.125%
- Over $5 million: 1.00%
If your portfolio balance is lower than the $1 million Fisher Investments normally works with, you might pay up to 1.50% of AUM.
Income-only accounts have lower AUM fees, but they aren’t managed for growth. Instead, you can receive income from the proceeds. These fees are also tiered and range from 0.28% to 0.75% AUM.
For all account types, Fisher’s fees cover access to several supplemental services at no additional cost, including annuity evaluation, insurance analysis and Social Security and Medicare planning.
How to sign up for a Fisher Investments account
Fisher Investments doesn’t offer online account creation for new clients. You can call or fill out a form to schedule a consultation. After the consultation, an affiliated advisor can help you set up an account and get started.
Fisher Investments pros and cons
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 0.96%, 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.
- Limitations in mobile app: While Fisher Investments does have a mobile app, it can’t be used to manage your account. Instead, it primarily offers news and market updates.
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 210,000 clients globally and manages more than $441 billion.
Fisher has a handful of local advisor 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 choosing 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.
FAQ
What types of accounts does Fisher Investments support?
Fisher Investments’ personal wealth management services support both taxable accounts and tax-advantaged retirement accounts.
The firm also provides institutional investing accounts for governments, foundations, endowments and pension funds.
Is Fisher Investments safe?
Fisher Investments is a reputable advisor that meets a fiduciary standard and requires every employee who interacts with a client to be registered as an investment adviser representative. The company is registered with the SEC and holds investment funds with a third-party custodian. However, it’s important to note that all investments carry risk, and you could lose money with Fisher Investments.
How does Fisher Investments compare to other advisors?
Fisher Investments provides similar financial planning services to other advisors, though it has a stronger focus on portfolio management than some of its competitors. The fees are a little above average, however, and Fisher Investments requires a higher minimum account balance than many other advisors.
Is Fisher Investments suitable for beginners?
In general, Fisher Investments isn’t suitable for beginners with less than $1 million in investible assets, as the AUM fee for those clients can be as high as 1.5%. Additionally, $1 million can be a high threshold for investors who are just starting out.
What customer support options are available with Fisher Investments?
Fisher Investments can be reached at 888-823-9566. Prospective customers can also fill out a web form and schedule an appointment. The firm operates from 8 a.m. ET until 9 p.m. on weekdays and from 9 a.m. until 6 p.m. on Saturdays, though individual investment counselors might be available outside the normal business hours. During times of market volatility, the firm offers extended business hours, including Sundays.
