One of the scary things about retiring is if you will have enough money saved up to be able to sustain all of your financial needs without the need to borrow money or require help from relatives or the government.
This is the concern of a lot of people and it’s not only reserved for those who are already close to retiring. There are also a number of people in their 30s that also think about their retirement.
Heck, there are even people who are only in their mid-20s but are already considering saving money to prepare for their retirement.
This is a very valid concern as no one wants to retire without enough money to cover their needs for the rest of their lives.
This is also why there are a lot of financial companies out there offering investment programs where people can put their money into and see it grow.
One such company is called Fisher Investments. It’s a wealth management company that offers several investment programs you can put your money into in order for it to grow.
The growth it can achieve will depend on several factors, including the program that you will put your money into. But does Fisher Investments really offer a legit program that can grow your money or is it just a scam to avoid?
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Fisher Investments Does Offer Legit Investment Programs For Your Money to Grow
Fisher Investments is a wealth management company that provides you with several investment programs that can help your money grow.
They actively manage investment portfolios through different market environments and conditions. The company was founded in 1979 by Ken Fisher, a well-known person in the world of finance and investment.
He has already authored 11 books and has written a Portfolio Strategy column for Forbes magazine for more than 30 years.
Based on Ken Fisher’s track record and from what I’ve seen about the company, I can say that Fisher Investments a legit company that offers investment programs.
Its longevity is a clear sign that it’s legit as companies that are just out to scam people, especially in the finance industry, don’t usually last as long.
Then, there’s also the reputation of its founder Ken Fisher, so you know this wealth management company is the real deal.
Of course, there are still some issues and complaints with Fisher Investments. Chief among them is the high management fees that you have to pay compared to other wealth management companies.
There were also various complaints from several people who have experienced the company. I’ll discuss these issues and complaints in more detail as we proceed further in this review.
Who Uses Fisher Investments?
Fisher Investments is designed for high net-worth people who are looking for professionals to manage their portfolio and prefer to have live people talk to them instead of robo-advisors.
The company offers several investment programs that you can join depending on your risk preference, goals, and objectives.
The company is owned by a well-known person in the finance and investment industry, Ken Fisher. To invest in a program, you first need to open an account with Fisher Investments. The process begins with you talking to an investment advisor.
In the next section, I’ll discuss in more detail how you can open an account and what kind of investment programs you can join.
How Does Fisher Investments Work?
Fisher Investments is a wealth management company that offers investment programs that can help your money grow.
The investment program you can join will depend on your goals, preferences, and objectives. To help you learn more before you begin, the company created a 15-Minute Retirement Plan.
The plan will answer several questions that you might have when it comes to choosing the right investment program and planning for your retirement. Once you have read it, you can start choosing your program.
Before you start, you’ll first need to open an account with Fisher Investments. To do that, you’ll need to talk to an investment advisor first and there are several ways to do that.
First is to call the dedicated number to set an appointment. The other way is by filling up a contact form and wait for an advisor to contact you to set up an appointment. You can also visit any of their branches that are near your area.
It’s important to note that Fisher Investments target high-net-worth individuals and the minimum investable assets you need to have to open an account with them is $500,000.
They do have the WealthBuilder program, where they accept individuals who only have $200,000 in investable assets.
The company also accepts individuals with a smaller account size, but these, together with those who only have $200,000 to invest, are subject for approval and are usually on a case-by-case basis. These accounts will also be subject to a higher fee rate.
Now, before discussing the rates, let’s look at the investment programs that the company offers.
Fisher Investments offer their private clients several services, including portfolio management, financial planning, retirement planning, and annuity conversion.
Portfolio management is the service that the company offers to its private individuals to help them grow their money. This service has three categories
The first one is the Equity accounts, which is an investment portfolio that focuses mainly on stock and cash equivalents. The other is the Balanced accounts, which focuses on a combination of stocked fixed income and cash.
These two categories will have an annual management fee, depending on the amount invested. For the first million dollars, the fee will be 1.25%. For the next $4 million, the fee will be 1.125%.
The fee for any additional amounts over $5 million is at 1.00%. The third category is the Fixed Income account, which is an investment program that mainly uses different fixed income instruments and cash.
The fees for these accounts are 0.75% for the first $5 million, 0.50% for the next $10 million, 0.43% for the next $10 million, 0.38% for the next $10 million, 0.33% for the next $10 million, and 0.28% for the next $45 million.
Aside from these annual management fees, there will also be other fees like brokerage commissions and other custodian fees associated with investing in ETFs or structured notes.
Now, when you place an account with the company, they manage every aspect of your portfolio and they use several criteria to determine the best portfolio for you.
They look at your investment time horizon, cash flow requirements, any other assets you have that they don’t manage, investment objective, risk tolerance, capital gain situation, and other restrictions that you might have.
After getting all the information needed, they will recommend a portfolio based on the data from their criteria. The company itself doesn’t take custody of your investments, as the accounts will be titled under your name.
It will also be placed in a reputable third-party custodian and Fisher Investments will have discretionary control. They basically just manage your portfolio and make changes, depending on market conditions.
Of course, they will keep you informed about certain developments that are related to your investment portfolio.
What Are People Saying about Fisher Investments?
The reviews about Fisher Investments have been mixed, with some people happy and satisfied with the returns their money is generating from their investment portfolios. They are happy with the service that the company provides, and they found the investment advisors very helpful.
As for those who weren’t satisfied, one of the complaints I saw was that the management fees for this company are high, especially if you compare them to companies that use robo-advisors.
If you compare it to similar companies that also provide real people as investment advisors, then the fees are within range, but against wealth management companies that offer robo-advisors, they are high.
I also saw various complaints about Fisher Investments posted in Yelp.com. A Lot of the complaints, though are about having an unpleasant experience dealing with the company’s advisors.
Fisher Investment has tried to address some of these issues. But I hope they do a better job of hiring people who will represent them well.
There are some, though, who complained about Fisher Investment’s performance, saying their portfolio did poorly. This is really something that should be expected in investing.
You can’t always expect your investment to go up. The only thing you and the company can do is to stack the favor in your odds, so the chances of your investment going your way are higher.
What I Like about Fisher Investments
Now that we know what Fisher Investments is and what they offer, it’s time to discuss what I like about this opportunity.
- The first thing that I like about Fisher Investments is that they seem to be genuine in trying to help their clients to achieve their investment goals in life. Their investment advisors will really work with you to see what your objectives and goals are in investing. They also look at your risk aversion, as well as other assets that they don’t manage and outside income to provide an investment program recommendation that will fit your investment goals.
- I also like that Fisher Investments still use real people to provide you with investment advice instead of robo-advisors. Though these new robo-advisors are likely going to be more accurate and faster in giving advice, it’s still better to have a human interaction as they’ll be able to explain the investment program much better than any software can.
What I Dislike about Fisher Investments
Of course, not everything is good with Fisher Investments, as there are also things about this opportunity that I don’t like.
- Probably one of the things that I don’t like about Fisher Investments is that they only target high-net-worth individuals. You’ll need to have a large sum of money available for investment if you want to open an account with this company. Yes, you can still try opening an account even if you are not a high-net-worth individual, but you’ll be subject for approval first and you have to contend with higher fees.
- Another thing I don’t like about Fisher Investments is the complaints that some people have about the company, especially when it comes to dealing with some of the brokers or advisors. Though the company is trying its best to provide customers with a pleasant experience, there are still some people who felt the broker they talked to was only after earning a commission. Hopefully, the company can address this issue.
Do I Recommend Fisher Investments?
After learning more about Fisher Investments and what it can really offer, I would say that it is a wealth management company that is worth checking out.
The company gears your portfolio based on several factors, including your goals and objectives, risk aversion, outside assets, and source of income.
This ensures that the investment portfolio they will create for you is really aligned with what you are trying to achieve financially with your investment.
Probably the only major downside here is that the investment opportunity that the company offers is really geared more for high-net-worth individuals.
Yes, you can still try to open an account even if you are not a high-net-worth individual, but you’ll be subject for approval first and a high annual management fee.
So, unless you are a high-net-worth individual, it would likely be better to look for a different investment program to join than Fisher Investments.
But if your net worth is high, then you could take a look at what they are offering.