Review Time
I've had a really good experience with Fisher, unfortunately I invested at the tail end of 2021 and suffered the market dip (around the 20% which made me whince a bit) but here we are just over 2 years later and I'm up comfortably more than 10% overall and climbing. It's not all about the numbers, I've had great service from my Investment Counsellors with a call whenever I want and clearly they know what they're doing so I'm happy to leave them to go about their business.I feel for those reviewers here who've lost money, but it's clearly a long game not a short one!Sadly this is probably one of those things where positive experience doesn't attract enough good reviews but negative ones do.
I am a UK Client and have been with Fisher Investments for nearly 6 years, since March 2018. I am invested 100% in The Purisima Equity Fund. Performance has been fabulous, far outstripping various big name UK investment houses I had been with previously. Communication has been fabulous. Customer Service has been fabulous. I note one or two negative remarks on this forum, but they come from individuals who were only with Fisher for extremely short periods of time. In one case only 60 days - Good Grief! To get the real picture all you need do is look at Fisher Investments performance over the last Year, 5 Years or 15 Years...and it's very good indeed. I give them a 24 Carat recommendation.
I moved our investments from RL360 and SJP to Fisher Investments in 2021 and it was the best move ever! Regular calls from our Investment Counsellor, Ken Fisher column and an impressive return on the Purisma Fund (38% in 2023).Unlike SJP & Abbey Wealth (RL360), they use in house analysts and publish their Investment Committee meetings. Personally I rate them very highly. They have a investment strategy, and inform investors of trading changes with rationale.
Scott contacted me after I downloaded an article from the Fisher Investment website. I have had 2 calls with Scott Duff. Scott was very knowledgeable and provided answers to all my questions to help me make my pension investment decision. Scott did not give a sales pitch but provided the data I required. Although I decided to manage my pension myself for the moment, if my circumstances change I will definitely engage with Scott again.
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.
I invested my SIPP and ISA funds in Jan 2016 when I retired and this was all of my 'third leg of the financial stability in retirement stool'; the others being rental property and private and state pensions. I have never looked back and am delighted with Fisher while I travelled widely and followed my motor racing interests round the world. I trusted Fisher and am so pleased I did, despite a c.20% fall back at one point. In less than 7 years, growth has on average been double digit each year. I'd never have achieved that myself, so why try? Why micro-manage? Why expect short term gains when this is for the longer haul? Support, with quarterly Counsellor calls, seminars and frequently published articles, communications are genuinely superb.
It has been a little over two years and I have lost $180,000 on one account and about as much in an account I moved. They got everything wrong. Inflation was temporary and it proved not to be. Interest rates would drop and they didn’t. I remember one of their gurus saying the UK-RU war would be insignificant to the global economy as they only represented 2% of global GDP. They forgot oil and grain and the impact of western involvement in the war. I’m a 77 year old. They over-weighted my equity portfolio in tech stocks that tanked. They also stayed with Chinese tech stocks long after everyone raised questions about the Chinese regulatory environment. On top of that they tried to convince me that ESG was best practice in stock selection. Ken Fisher is a legend, only in his own mind.
Long story short, my experience is they lied to me , mislead me and lost 28% of my investment in 14 months. I was down from the very first quarter statement and it only got worse from there. The original account rep. we had supposedly left the company before the first quarter review and they declare everything we told them was not in his notes. Remember if you have 500k or more they will be willing to turn it into 350k.
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Founded in 1979, Fisher Investments is an independent investment adviser serving both individual and institutional investors.
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