Just got out of Fisher entirely. They're fine in a bull market but have no overall plan when the market goes south, e.g., no reactive or stop-loss strategy or capital preservation. When I first met with a Fisher representative in person, I asked what they do in bear markets, and was told that they would protect my money. They haven't they preserved or protected my portfolio in the past 14+ months - other than move out of some equities and into others. When I saw my portfolio dip >20%, and then >25%, I asked my investment counselor what was being done, and received an edgy, "What do you want us to do, put it all in cash? You won't be positioned when the market rebounds." Like any investor, bear markets and recessions happen. But a contingency plan is key ... especially when markets / portfolios keep sliding >9 months! To their credit, they do provide webinars and client calls, but pointing to historical examples and being reminded to be patient doesn't help when your portfolio is no better in November 2022 than November 2020. Fisher doesn't have a well-rounded or understood strategy when markets slide over time, and no plan to stop the bleeding. Given what has happened with my hard-earned money, I'm done.
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Founded in 1979, Fisher Investments is an independent investment adviser serving both individual and institutional investors.
