Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Fisher Investments?
Old 11-26-2012, 09:19 PM   #1
Full time employment: Posting here.
 
Join Date: Jun 2012
Location: Suburban Woods in Ohio
Posts: 503
Fisher Investments?

Has anyone had any experience with Fisher Investments? They keep contacting us, wanting to manage our rollover IRA's (from 401Ks). We've invested quite well on our own over the years, between Vanguard,T Rowe Price, and my husband managing his 401K options through his employer.

From what I can tell, Fisher would simply create for us a portfolio that they think is appropriate, but charge us 1.5% in fees annually, whether the acct. makes or loses $. Vanguard and T.Rowe Price have done the same, in theory, through the specific funds we have chosen from them.........but their fees are quite reasonable. Plus, funds are easy to track on their websites. If they decrease in value, at least we are only paying low fees to watch our $ drop a bit.

We spent years as "do-it-yourself"ers, selling our own house and cars, painting, doing home maintenance, etc. But, we are getting tired...........and my husband is not well. (No, he doesn't have cancer or heart issues; it's a rare form of lung disease, though he never smoked).

(If it would help to know more about our situation, I put our background on the "Hi, I am...." thread.)

It would be nice to hear if anyone has had experience with the Fisher Co., based in Woodside, CA.

Thanks!
__________________

__________________
LitGal is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 11-26-2012, 09:36 PM   #2
Thinks s/he gets paid by the post
Major Tom's Avatar
 
Join Date: Nov 2009
Location: SF East Bay
Posts: 3,129
I made the mistake of giving them my contact info about a year ago in return for a free market report. They still keep calling me, even though I have expressly told them that I am not interested.

I thought their fees were a bit high and realized that I am perfectly comfortable with my low-fee passive index fund approach.
__________________

__________________
ER, for all intents and purposes. Part-time income <5% of annual expenditure.
Major Tom is online now   Reply With Quote
Old 11-26-2012, 09:43 PM   #3
Thinks s/he gets paid by the post
2017ish's Avatar
 
Join Date: Apr 2012
Posts: 1,847
I obliviously signed up for them to contact me when I downloaded a report or analysis that they were touting some time ago. The recommendations of the report/analysis were dangerous, at least in my opinion. I told their representative that in great detail (with citations) when he emailed me, and they haven't bothered me again.
__________________
2017ish is offline   Reply With Quote
Old 11-26-2012, 10:01 PM   #4
Full time employment: Posting here.
gcgang's Avatar
 
Join Date: Sep 2012
Posts: 928
They are a relentless marketing organization. Kenneth Fisher's father was Irving Fisher, I think, a pioneer in money management who made the notorious quote in October, 1929, just before the crash, that stocks were permanently trading on a higher plateau.
Ken has had a column in Forbes for 25+ years.
IMHO, a rather high priced stock picking service.
__________________
gcgang is offline   Reply With Quote
Old 11-26-2012, 10:13 PM   #5
Full time employment: Posting here.
 
Join Date: Jun 2012
Location: Suburban Woods in Ohio
Posts: 503
Just an FYI-- I checked Wikipedia. Ken Fisher's father was Philip Fisher, not Iriving Fisher. But I do agree that it seems to be a high-priced stock-picking service.
__________________
LitGal is offline   Reply With Quote
Old 11-26-2012, 10:18 PM   #6
Thinks s/he gets paid by the post
Brett_Cameron's Avatar
 
Join Date: May 2011
Location: South Eastern USA
Posts: 1,010
I too gave them my contact info just before I became FI. They keep contacting wanting me to turnover my entire portfolio to them despite me telling them I would never do that. I wish they would leave me alone.
__________________
Brett_Cameron is offline   Reply With Quote
Old 11-26-2012, 10:40 PM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
bbbamI's Avatar
 
Join Date: Dec 2006
Location: Dallas 'burb
Posts: 9,039
I have no idea how they got our address. I keep getting info from them in the mail. ...and I keep throwing it in the trash.
__________________
There's no need to complicate, our time is short..
bbbamI is offline   Reply With Quote
Old 11-26-2012, 11:36 PM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,386
Quote:
Originally Posted by gcgang View Post
They are a relentless marketing organization. Kenneth Fisher's father was Irving Fisher, I think, a pioneer in money management who made the notorious quote in October, 1929, just before the crash, that stocks were permanently trading on a higher plateau.
Nope, Kenneth's father was Philip Fisher, a very good money manager in the Bay Area who Warren Buffett credited with expanding Buffett's investment universe into good businesses, not just statistically cheap stocks. Philip Arthur Fisher - Wikipedia, the free encyclopedia

Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is offline   Reply With Quote
Old 11-27-2012, 01:18 AM   #9
Thinks s/he gets paid by the post
growing_older's Avatar
 
Join Date: Jun 2007
Posts: 2,608
Fisher is everywhere and they are quite aggressive. Lots of seminars and once you are on their mailing list they will send you hugely oversized envelopes touting their latest "reports" forever.

I think they are quite expensive as a generic wrap account and they are absolutely relentless. If you are happy with what you have been doing, there's no reason to involve them and their generous fees.
__________________
growing_older is offline   Reply With Quote
Old 11-27-2012, 01:52 AM   #10
Full time employment: Posting here.
gcgang's Avatar
 
Join Date: Sep 2012
Posts: 928
Thanks for correcting me on Ken's dad. I was always amazed and thought it was a testament to chutzpah and marketing that Ken could make it after his father had made such a blunder.
But LitGal, if by getting "tired" you mean that you need someone to help manage your finances, you may want to explore fiduciary relationships with an entity like a Trust company. If you've got $1mm+ of financial assets, you should be able to get a more comprehensive approach than a stock only manager like Fisher provides, for less than 1%.
__________________
gcgang is offline   Reply With Quote
Old 11-27-2012, 06:27 AM   #11
Thinks s/he gets paid by the post
obgyn65's Avatar
 
Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
No, sorry.

I like Edward Jones and Bank of America / ML.

Quote:
Originally Posted by LitGal View Post
Has anyone had any experience with Fisher Investments?
__________________
Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
obgyn65 is offline   Reply With Quote
Old 11-27-2012, 06:34 AM   #12
Full time employment: Posting here.
 
Join Date: Jan 2008
Posts: 609
Never give out your real Name/Address and use an email designed specifically for this type of junk marketing. It'll save you tons of hassle when signing up for stuff on the internet.

Nano
__________________
NanoSour is offline   Reply With Quote
Old 11-27-2012, 07:24 AM   #13
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
 
Join Date: Mar 2007
Posts: 9,896
Rule of thumb is that you can spend 4% of your portfolio yearly in retirement. If you give this wrap account 1.5%, that leaves you 2.5%. Does that sound OK?
__________________
Yes, I have achieved work / life balance.
travelover is online now   Reply With Quote
Old 11-27-2012, 08:04 AM   #14
Recycles dryer sheets
Richard4444's Avatar
 
Join Date: Jul 2011
Location: South Florida
Posts: 402
Quote:
Originally Posted by travelover View Post
Rule of thumb is that you can spend 4% of your portfolio yearly in retirement. If you give this wrap account 1.5%, that leaves you 2.5%. Does that sound OK?
Perfectly said
__________________
Richard4444 is offline   Reply With Quote
Old 11-27-2012, 08:09 AM   #15
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,117
Quote:
Originally Posted by travelover View Post
Rule of thumb is that you can spend 4% of your portfolio yearly in retirement. If you give this wrap account 1.5%, that leaves you 2.5%. Does that sound OK?
Said another way, does paying Fisher 37.5% of the annual amount you can safely spend from your portfolio sound OK?
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 11-27-2012, 08:17 AM   #16
Thinks s/he gets paid by the post
 
Join Date: Jan 2011
Posts: 1,207
Add me to the chorus of responders who keep getting nagged by Fisher. I now just hang up on them.
__________________
mystang52 is offline   Reply With Quote
Old 11-27-2012, 08:51 AM   #17
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
"Extended warranty? How could I lose?!"

- Homer Simpson
__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Old 11-27-2012, 09:07 AM   #18
Thinks s/he gets paid by the post
Major Tom's Avatar
 
Join Date: Nov 2009
Location: SF East Bay
Posts: 3,129
When on the phone with the rep, I asked how their portfolios performed against the major benchmarks. It turns out that of the benchmarks they use, the S&P 500 isn't one of them. One of them had the word "world" in the title. Sorry I cannot be more specific - I have now thrown their literature away.

I don't remember which benchmarks they were using, but the fact that they couldn't (or wouldn't) tell me how their portfolios had performed against the S&P 500 was a factor in my losing interest. That, and the high fees.
__________________
ER, for all intents and purposes. Part-time income <5% of annual expenditure.
Major Tom is online now   Reply With Quote
Fisher Investments?
Old 11-27-2012, 09:12 AM   #19
Recycles dryer sheets
 
Join Date: Nov 2011
Posts: 106
Fisher Investments?

I had some money with Fisher Investments several years ago, but left them due to poor performance and high fees. Ken Fisher is rather arrogant and tends to let his ego get the best of him. He presents perfectly logical investment strategies that turn out to be wrong, but then is very slow to change course only to provide more elaborate rationalizing to explain the below-market results. Steer clear.
__________________
523HRR is online now   Reply With Quote
Old 11-27-2012, 09:54 AM   #20
Thinks s/he gets paid by the post
 
Join Date: Mar 2010
Posts: 1,649
I downloaded something off the internet from Fisher years ago. Probably at least 8 years ago. Went so far as to set up an appointment with them to have their rep come and "discuss". At that point, I was willing to learn more about investing and was taking in information from all sources.

This rep kept telling me he had clients in my area but would not give me their names. I asked him for copies of "real" statements from their clients (with the names marked out). Never provided it. I asked him for detailed explanations of why they were different from everyone else out there. While he gave me a lot of "words" in response, his answer didn't answer my question. I cancelled the appointment.

I ended it by telling the guy:
"you know what, I DO NOT KNOW WHO YOU ARE and I am not investing my money with you on a cold call. I don't care what your literature says. It could be made up for all I know". I found Ken Fisher arrogant and agree with most other's here regarding him and his firm.

I still periodically receive their mailings.
__________________

__________________
sheehs1 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


 

 
All times are GMT -6. The time now is 11:51 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.