Review Time
Started the review process from a contact from Fisher in response to an add about their publication. A local VP came to our home and reviewed their services. We agreed to start with an annuity review. Had that review and received basic results. At this point we were still satisfied and considered moving forward and surrendering some annuities. However, after that with mtgs scheduled to review entire portfolio (additional information), we received a lame excuse to cancel/reschedule mtg. It never happened. All further emails and voice messages to ask what happened were never responded to. Have to say, poor customer satisfaction. A simple courteous response that they did not plan on moving forward with us would at least have been the right thing to do. Since that time, they contacted TrustPilot because our initial review contained an employee's name. Interesting that they are more concerned about this than reaching out to us to rectify the situation.
We are in the process of signing on w Fisher and Robert who has a VP title was out point and lead. We liked what he had to say of the firm’s performance. However, he handed us off to Carl and we are a bit concerned of the level of Carls ability to listen and don’t get a sense he truly understands our goals. He was asking us what we wanted to make and we said, you are the expert! What do we expect at a minimum? He was nice but not exuding confidence. The paper work has been a debacle with the help of Theron. How can you not know your process with peoples live savings at stake? We are not impressed and rethinking on going with Fisher. Have appreciated these reviews. I have to listen to my gut and it says to look elsewhere…People, do your homework well for your future.
I think the best way to describe Fisher is to say, over diversified. They started one account with $462,500 and had it in 85 stocks. I understand that they want to make sure you don't go down to much but you also don't go up to much. It feels like a bit of a scam at 1.25% fees. I had them from March through September and was up 7%. Remember the year the market just had. I just didn't feel like they were actually managing my account but rather one size fits all. My guess is that the portfolio is used for all their clients and they rake in the fees. I remember them talking about the investment team working on what my portfolio will look like at the beginning, it ended up being almost every stock I have ever heard of. Anyways...after six months they were up 7% and after ending the relationship with them and adjusting the portfolio and adding some real opportunities I am up 22% in three months.
Update: I was notified by Trustpilot that Fisher Investments flagged my review and asked them to remove it.According to Morningstar published rates of returns, I'm doing MUCH better elsewhere than Fisher Investment's rate of return.2nd Update: Fisher again requested Trustpilot to remove my review after my first update and this time Trustpilot removed it saying I was "advertising" for other companies when I never mentioned any other company by name. But I edited my review anyway to get it to stand.3rd Update: Fisher yet again requested Trustpilot to remove my review claiming it "contained defamatory content". Fisher's rates of returns are factual, black & white numbers, as are the returns from investments options offered by their competitors. Same goes for their much higher fees than many of their competitors. Morningstar is a very highly reputable and respected reporting service in the financial field and makes it easy to compare. Those figures are also available directly from each company in their prospectus.Those numbers are what they are. They are factual and not defamatory. Maybe if Fisher thinks the reporting of those factual numbers is defamatory, they should work harder on improving their returns and/or lowering their fees?Here's more factual, hard numbers: As of this writing 40 out of a total of 74 Trustpilot reviews give them the lowest possible 1 star rating.More black & white factual numbers: On Yelp, as of the time of this writing, 97 out of 139 total reviews gave them the lowest possible rating of 1 star.
I’m reading all of these reviews and to say I am flabbergasted is an understatement. Fisher are not miracle workers, they are an investment firm that has consistently out performed the benchmark MSCI World index. Yes, their fees are high, but the service they provide is second to none in my opinion. I joined around 3 years ago, and since then we have had a number of market crashes, but I have stuck with them and again they inevitably out perform the benchmark by some distance in the recovery. They have one fund, Purisima, and depending on your risk appetite, will balance the levels invested versus cash based investments. My pot has grown 40ish % in those 3 or so years and I’m very happy. A lot of these reviews are about the hard sell etc, very few come from actual investors in Fisher, and those negative ones appear to be because they didn’t have the patience to see through a down turn. I saw one saying “manage it yourself”. If you do that, make sure you are an expert! If not, Fisher is a well respected investment firm and if you have the patience that’s stock require, you will be rewarded!
I have to say I was very disappointed in the way Fisher VP Larry handle a issue with Fisher. I had an account set up and was about to transfer my 401k and Pension for them to manage. When I asked how we should handle my pension he told me they would not answer any question until they had access to all my accounts. I just asked a question nothing more and the response was we do not answer those questions until we have your money in under our control. You will never get my money if you can not even answer a question about my accents. It also took a week and I had to send a message to the VP Larry for him to answer 2 weeks later. Not the way to run a business if you ask me.
Poor communication upon requesting the sell of part of my portfolio, was not made clear funds would not liquidate from stocks on same day and lost small portion of withdrawal due to dip in market. Would have held until value increased had it been clear. Please improve communication in future!
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Founded in 1979, Fisher Investments is an independent investment adviser serving both individual and institutional investors.
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