fisherinvestments.com

We had some serious issues with Fisher Investment

I trusted Fisher with a bit over $1M for about 60 days and regret it.1. Fisher has one strategy. All stock. Fisher closely aligns with the S&P500, modifying for geography and industry. Currently, they are heavier in US stocks and favor technology stocks.2. ALL efforts (meetings, literature, videos) we were exposed to focused on getting us to "stick with it". I asked, If World War III breaks out, do I call you or will you call me to suggested changes? The answer was: I will call, but we always recommend to stick with it. 3. Every person I dealt with was early in their career, including sales executives, management, and financial counselor. 4. The lack of expertise is hidden. I asked for some sort of background on my assigned financial counselor and could not get one. LinkedIn showed no relevant education and three months of experience as a Fisher employee. Fair enough, their job was to keep us pacified and NOT to guide us or our investments. 5. Two of our accounts were around $20k, too small to receive the "Fisher magic". They invested the money into index funds aligned to the S&P500 and charged us 1.25%. 6. Nothing has worked out at first try. Regular distributions, invoices, phone calls, missed appointments, ... I am stilling trying to get a final invoice for our largest account.7 My advice: Read the literature and then spend some time looking into the performance of S&P500 and NASDAQ index funds. I agree with the bias towards technology. I also agree with the need to continue the growth of the portfolio deep into retirement to keep up with inflation and distributions, as Fisher is counseling. Some mix of S&P 500 index and NASDAQ (tech heavy) index funds will serve us better and cheaper than Fisher. From time to time we will re-evaluate if we should tilt a bit away from tech or pivot to a stronger international composition.

Date of experience: Nov 07, 2023