Why You Should Avoid Fisher Investments In 2024: Must Read -

Did you come across Fisher Investments? A wealth management platform that helps clients manage their investments. If you’re considering Fisher Investments as your financial advisor and have lots of questions to ask, this article will give you answers to these queries.

About Fisher Investments

Ken Fisher started Fisher Investments back in 1979. He’s known for his innovative investment ideas and wrote a book to help clients reach their financial goals with customized plans and clear fees.

When you join Fisher Investments, they’ll pair you with an advisor. This advisor will chat with you to understand what you want to do with your money. Based on that, they’ll create a plan just for yo

You’ll need to have at least $500,000 to get started with Fisher Investments, so it might not be accessible for everyone.

Fisher Investments offers services like:

Managing Your Money: Pros handle your investments based on what you want to achieve financially.
Planning for the Future: They help set up goals for saving and investing, and check how you’re doing over time.
Getting Ready for Retirement: They figure out how much you need to save for retirement and how to manage your money once you stop working.
Sorting Out Your Will: They help plan who gets your money and stuff after you’re gone, and make sure all the legal stuff is in order.
Checking Out Annuities: They give you advice on annuities, explaining the good and bad sides, even though they don’t sell them.

Customer Complaints

Lots of users who tried Fisher Investments call it out as a total ripoff that promise high returns but deliver lousy ones, and their fees are sky-high. Plus, they make it super hard to keep track of your money.

I spent a lot of time with Fisher examining my pensions. We spent hours discussing my investments and options – then they went silent. They simply stopped answering phone calls or emails and I never heard from them again.
Marketing themselves is what they do best….serious lack of performance and professionalism.
Gave them every opportunity to handle over $5 million and they failed us miserably.
Advisors are no more than salesmen.
Been there 8-9 months and pulling out ASAP.
This is just another investment company, though not the good kind. Very poor returns. You can make more money with just a typical S&P 500 index fund.

Is Fisher Investments Right for You?

If you’ve got a lot of money saved up and want someone else to handle your investments, Fisher Investments could be a good fit.

The fee you pay depends on how much money you have invested with them. For the first $1 million, it’s 1.25% per year. For the next $4 million, it’s 1.125% per year. If you have over $5 million invested, the fee is 1% per year.

Pros:

Makes custom investment plans that fit your needs
Gets advice from Ken Fisher for investing decisions
Gives ongoing help from your advisor
Has good customer service, even in person
Offers helpful educational stuff about the market

Cons:

Needs at least $500,000 to start investing
Charges high fees for managing your money
Doesn’t let you do your own trading
Website doesn’t have fancy tools for research

Reasons to Steer Clear of Fisher Investments:

All-Stock Strategy: Fisher only invests in stocks, closely mirroring the S&P 500, with a heavy emphasis on US and tech stocks.
Pushy “Stick with It” Approach: They pressure you to stay invested, even in turbulent times like World War III.
Inexperienced Staff: Everyone I dealt with, from sales to management, was new to their roles.
Hidden Lack of Expertise: They claim expertise but couldn’t provide basic background info on my financial counselor.
Small Accounts Get Ignored: If your account is small, they throw your money into basic index funds and still charge high fees.
Constant Problems: Everything from billing to communication was a hassle, and I’m still trying to sort out issues with my largest account.
Better Alternatives: Consider investing in S&P 500 and NASDAQ index funds directly. They’re cheaper and likely to perform better than Fisher Investments.

Conclusion

If you prefer making your own investment choices, Fisher Investments might not be the best option, this platform promises big returns but delivers disappointment. Their fees are sky-high, and they make it tough to track your money. They’re better at advertising than investing. Once they’ve got your cash, you’re stuck. I fell for it, but you don’t have to.

Similar scam: Halsted Financial Platform