Consider sending Fisher feedback, anonymously so you don't get on the mailing list. I did some time ago, and within a year they changed their long-standing TV ads to address the particular element I'd written about. Maybe coincidence, but maybe they listened, which is lots more than many companies do. Even so, before sending them money to invest, I'd want strong evidence their approach is superior.
Anyone Here Have Personal Experience Using Fisher Investments?
- Thread starter RetiredAt49
- Start date
Off Topic as well, Google Voice is great if you can get a number - definitely in short supply these days. Another alternative in these times of robocalls and whatnot is to just block calls from numbers not in your address book. On my iPhone the calls go right to voicemail with no ringing or interruptions. If they leave a message I'll glance at it and usually delete.
Winemaker
Thinks s/he gets paid by the post
I used to follow Ken Fisher's advice when he wrote articles for Forbes magazine. He helped me make some money back in my younger days. Never did invest with his firm.
I inherited a portfolio that Fisher was managing at Fidelity a decade ago. I had previously attended a few events at Ken Fisher's fine home and hear him speak when he hosted clients several years earlier.
I kept the portfolio for about a year, the service and performance were mediocre. They provided a lot of info and prognostications with their monthly reports, which was impressive to many clients I suppose. They actually tracked their performance relative to a benchmark, a very rare step toward accountability in my experience. They seemed to adjust the benchmark periodically, and of course cherry picked timing and asset classes favorably. The performance wasn't terrible, mostly lagging the market by a bit more than the AUM fee, 1.25% or 1.5% I recall.
Their tone became defensive, escalating to rude and almost hostile as I advised them of my plans to invest elsewhere, fairly typical. I suppose they black listed me from their marketing blitz, how unfortunate.
I had been a DIY Boglehead investor for many years, but was impressed by another highly recommended FA, and gave him a shot with this portfolio for a year or two. Again, lagging the market by the AUM plus a couple points. Again, lots of protests, counter arguments, and scare tactics when moving out.
I'm much better off since then with a simple, low cost, DIY portfolio. There's just no reason to split my retirement withdrawal rate with a FA who is almost certain to lag the market.
Edit:
One point to add: The Fisher performance noted and my decision to leave were based on 10-12 years of account statements, not just the one year they managed a portfolio for me.
I kept the portfolio for about a year, the service and performance were mediocre. They provided a lot of info and prognostications with their monthly reports, which was impressive to many clients I suppose. They actually tracked their performance relative to a benchmark, a very rare step toward accountability in my experience. They seemed to adjust the benchmark periodically, and of course cherry picked timing and asset classes favorably. The performance wasn't terrible, mostly lagging the market by a bit more than the AUM fee, 1.25% or 1.5% I recall.
Their tone became defensive, escalating to rude and almost hostile as I advised them of my plans to invest elsewhere, fairly typical. I suppose they black listed me from their marketing blitz, how unfortunate.
I had been a DIY Boglehead investor for many years, but was impressed by another highly recommended FA, and gave him a shot with this portfolio for a year or two. Again, lagging the market by the AUM plus a couple points. Again, lots of protests, counter arguments, and scare tactics when moving out.
I'm much better off since then with a simple, low cost, DIY portfolio. There's just no reason to split my retirement withdrawal rate with a FA who is almost certain to lag the market.
Edit:
One point to add: The Fisher performance noted and my decision to leave were based on 10-12 years of account statements, not just the one year they managed a portfolio for me.
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That is a large part of why I never followed up with anything they sent me. I figure that in order for them to justify the expense of sending me that big package their sources must suggest that I am both stupid and wealthy. I am neither, so that forever damages their credibility with me.
Come to think of it, maybe they gave up. I haven't received anything from them for quite a while now.
