Fisher Investments Lost me $XXX,XXX – Negligent and Unprofessional Advisors
Fisher Investments is the worst financial advisor you can hire. They don’t believe in benchmarks and tend to focus on their own benefit, rather than the client’s. My friend lost hundreds of thousands through the terrible investment advice they threw at him. His expectations were pretty high with them but after that horrible experience, he regrets ever working with them. He keeps alerting his friends and family to beware of them too. However, I realized that other people should be aware of this shady advisory firm as well.
After seeing how much he went through because of those horrible advisors, I asked him if I could share his experience.
This article should help you understand why Fisher Investments is a terrible choice for any investor.
My Friend’s Experience with Fisher Investments
My friend hired Fisher Investments in 20XX for portfolio management. To be honest, there weren’t many complaints about Fisher Investments back then online.
Instead, there were only praises for these guys everywhere. So he was quite happy to hire them. I guess he just didn’t know that Fisher Investments is filled with unprofessional individuals. They don’t like to study the market before recommending investments to their clients.
They were managing his account and even after a year, their performance was way below the market.
He told me that he enquired about it but the advisor responded by saying that they are “in it for the long haul”. Whenever my friend would ask his advisor to explain their investment strategy he would quote Warren Buffett and give a vague reply.
Still, my friend believed his account was in better hands. Earlier this year, their returns were quite impressive as the market soared.
So the advisor requested my friend to invest more in his account. He baited him! This is the point when everything went downward.
My friend was so excited about their performance in early 20XX that he believed every word the advisor said, even though it was the first time they had shown any positive results.
To be honest, he didn’t want to miss out on any gains in the market as well. My friend had added around XXX,XXX dollars in his account and notified the advisor.
I believe If someone had told him that he could lose all that money within a few months, he wouldn’t have made that decision in the first place. But there was no one to alert him at that time. And he was so eager to capitalize on the market that he made haste decisions without much thinking.
How They Lost My Friend His Investments
Shockingly, he lost his investment within a few months. By May, his trading account had lost the entire XXXXXX he had added to it along with several percent of the principal amount. What happened was, the advisors from Fisher Investments pressured my friend into investing 40% of his portfolio in a single company.
They had made many big claims about that company and assured him that they had done extensive research on its leadership and past performance.
My friend claims that it was the biggest mistake he has made so far. I guess he should have known that he can’t trust an advisor blindly but the returns from early 20XX had fogged his judgment.
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You should note that it is probably among the most expensive advisory firms in the US. They charge various kinds of fees, they tell you about some before, while they don’t inform you about some at all.
My friend told me that he didn’t mind paying those fees because he believed he always was in the right hands.
After losing him more than XX,XXX dollars, the advisors from the company had no excuses. They kept assuring my friend that they would recover the entire sum and he gave them a chance, but the results didn’t change.
Either the analysts at Fisher do a poor job at studying the market, or the advisors are too ignorant to do their jobs properly.
My friend even considered firing them.
Negligent Advisory Firm
What bothered my friend the most about them and their advisors was their terrible negligence. When market gained, these advisors focused on companies they knew nothing about. The result? Their clients lost a huge percent of their portfolios. What kind of financial advisor recommends allocation of 40% funds in a single company? Fisher Investments.
I think there aren’t any others who do such lunacy.
After my friend’s horrible experience with those people, and the constant phone calls he received from them, I thought I should do a little research as well. I wanted to find out if there are others who have faced similar issues with Fisher Investments. To my surprise, I found many complaints.
It turns out, they are among the worst financial advisors in the market. Their only advantage is they are good at hiding these facts from the public. On their website, they have added numerous awards and accolades so no one would suspect a thing.
Fisher Investments: Background and Important Details
My article would be incomplete without specifying a few details about Fisher Investments (or Fisher Wealth Management). Ken Fisher started this company in 1979.
He is a prominent figure in the investment field. Also, he has earned a lot of recognition in the past few decades. However, he is also notorious for being a misogynist.
In 20XX, his misogynistic comments had cost his company more than a billion dollars in investments. Ken has held the position of CEO at Fisher Investments for 37 years. Currently, Ken Fisher is the co-chief investment officer and the executive chairman of this firm.
Fisher Investments offers services to ultra-high net worth people, companies, foundations, retirement plans, and many others.
The minimum threshold to become their client is $XXX,XXX in assets. It’s surprising how a company that focuses on high-net-worth individuals fails in providing proper services. Maybe they have become arrogant or lethargic in doing their duties.
Fisher Investments Reviews You Should Know About
Apart from my friend, there are many other people who have either lost a huge sum or have grown sick of their horrible customer support. I’ve shared as many customer reviews as I could so you can see just how bad Fisher Investments really is.
“Fisher Investments is Only Good at Marketing”
Here, OP claims that Fisher Investments is a trap that markets itself to be a great investment company. The reviewer had shifted his portfolio to Fisher Investments in 20XX. They worked with Fisher for 6 years until 20XX. Apparently, this person was frustrated with the terrible portfolio management of Fisher Investments just like my friend was.
The reviewer alleges that Fisher Investments follows a one size fits all policy. It wouldn’t surprise anyone if they did. There’s a lot of technical details the person has shared but the primary concern was that Fisher Investments offer poor returns and charge phenomenally high fees.
“Terrible Service in Their Billing Department”
In this review, the person has a similar complaint as the first one. Apparently, many people are irritated with the terrible returns Fisher Investments offers. This person had an account with them from XXXX to XXXX 20XX and a huge reason why they considered firing Fisher Investments was that the company never focused on providing detailed billing.
The people from Fisher Investments would give vague responses when the reviewer would ask for a proper invoice. Apart from that, it seems like Fisher Investments didn’t provide good returns to this person as well.
“Extremely Aggressive Sales Approach”
This person complains about the numerous times Fisher’s salespeople contact him. On top of that, the sales person started yelling at this person when they declined his offer. My friend had also complained about the numerous emails and calls he has been receiving since he got rid of their services. Fisher Investments tends to harass people into buying their services.
“Invested without Asking and Overextended an Account”
In this review, the person had hired Fisher Investments to manage their portfolio. They had informed their advisors about their particular interests. And had booked an appointment to discuss the same. However, the advisors invested the reviewer’s money and even overextended one of their accounts without asking them.
I have shared links of all these reviews below my article. You can check them out yourself. And see how terribly Fisher Investments treats its customers.
There’s no reason for you to risk financial loss by hiring the negligent advisors present in this firm.
Fisher Investments Review – Final Thoughts
After my friend shared his painful experiences with me, I wanted to do something about it. That’s why I have shared this article here. I want others to know the truth behind the pomp and show of Fisher Investments. Those people seriously need a makeover and a change in leadership, otherwise, they would keep losing their clients’ money.
Fisher Investments is the worst financial advisor you can hire. They don’t believe in benchmarks and tend to focus on their own benefit, rather than the client’s. It's best to avoid them.
- False Claims
- Quite Highly Priced
They lost me over $20,000 within a year. Never trusting these hacks ever again.
Either they are too stupid to know what they are doing or too cunning. But in both cases, they are not suitable for any investor whatsoever.
These people looted my parents during the pandemic. In fact, they are looting them even now. Those crooks at Fisher Investments kept blaming the economy or the world but never take any responsibility for the pisspoor returns they are generating for my mom and pop. It’s irritating. I’m telling you, stay miles away from these white-collar criminals. They deserve 0/5 stars.
How do you get this article noticed by more people.
I’m a current client with FI and hopefully in the near future a former one. Your friends and the other reviews sound similar to my short experience with FI. I moved my +1M$ retirement portfolio to them with a good cash reserve in place. Once they got the funds, it was like “Trust Us” we know better than you and I became known as the “individual investor”! I asked about the cash reserve being kept in my account to cushion any downturn in the market as I was recently retired and drawing from the account. However, FI went full in with all my money and now I’m selling stocks at a loss to pay for my retirement. Just for reference, I’m down +200k$ In less than 4. months. Question: How can FI make such bad investments March/End/2022 based on the previous 3M market performance?
Numerous times I called as the market started slipping to get FI to go defensive but was told “Trust Us” look at our pamphlets, research and pretty documents, this is only a correction and you don’t want to miss out on the up swing like most “individual investor” tend to do. Bottom line, you are stupid and FI has a buy and hold investment strategy with NO management of the account(s).
Well, FI has finally called this a bear market in my last call with them (7/2/2022). Really! My advise to anyone looking at FI, research several firms especially close to home before making a decision. If you choose FI then look again!
Lastly, Upon my reflection, I determined I didn’t keep firm to my investment principles in setting up my account properly with FI. Why? I thought they knew better than me on investing. The difference came down to these points. It wasn’t their money and they would get paid regardless of their performance. The advisors job it to keep you pinned to the wall with their car salesman pitch so you don’t take your money out.
Lol- these are all mostly phony hear say reviews
I didn’t mention in my post that I am/was looking at Fisher, but after seeing these reviews, I’ll be giving them a wide berth.
Lol- these are all mostly phony hear say reviews . Fisher doesn’t even operate the way half these reviews describe
I don’t know where you are Ron, but regardless, my advice would be the same…..don’t trust these people, any of them.
I don’t know what the answer is though. I’ve decided to manage my own portfolios, personal and superannuation, and am doing OK, at least as well as the past couple of advisers.
If you’re in Australia, I can give you a recommendation on a good managed fund, returned 19% pa for the past 6 years. I don’t want to publish it here in case I’m trolled as a shill for them, but if you email me at [email protected] I’ll pass on their name and you can do some research to satisfy yourself.
If you’re not in Australia, you could still invest, but there is the exchange rate issue that can catch you out.
All the Best
My experience with this firm was horrible. I have been much happier with my local FA. These guys have the worst rates in the market. Don’t go to them unless you like to pay extra for getting poorer results.
One thing I do not understand is how people have NO idea how the investment management works at Fisher. The advisor does not manage the portfolio at all. It is managed by the centralized management team. The advisor only does the financial planning and educational aspect of the relationship. Half the comments and half this article makes zero sense if you knew how Fisher manages relationships or money. They either have never worked with Fisher investments or worked with another firm and are confused.
If that’s the case then the central management of this firm is the most incompetent. They don’t care about your personal financial goals or results. Nope, they have created a bunch of strategies which they recommend to everyone. If finance was so simple, we wouldn’t be in today’s nightmarish economy. These guys are greedy. Don’t believe me? Compare their rates with the competition.
Thank all of your for your opinions and comments. I was thinking of going with FI because of the hype in their commercials. Last week I interviewed one of FI’s portfolio managers and I found him to be just a little too confident in what he was purposing. My current portfolio is 75% municipal bonds and 25% ETF, I despises ETF and was looking for someone who would make better decisions than ETF’S. I am 84 years old and I don’t want to go back to work because of an under experienced financial advisor. Thanks again I think I’ll pass of FI.
Vanguard and Fidelity… financial advisors are parasites… if you need advice, go to a CFP for a one-time low, set fee…
Edward Jones has done us a great job the last 16 years
Funny. The exact opposite of what you are describing happened to me. I wonder if this was a bad advisor but a good firm.
Smoke and mirrors…ask for attribution i.e. does their stock picking and sector over/under weights add value over time. Since 2012, yuge drag. Enjoy the nosebleed fees
Fisher Investments is a horrible finance company. There’s a serious problem with the analysts present there because their gains always remain at least 20% lower than the market. These people think it’s okay to experiment with their client’s funds, which is the worst thing anyone can do. If you really want to test out something, do it with your own funds. Why do you have to use your client as a scapegoat??
My advisor from Fisher Investments lost me $XXXX within a week. When I asked him what caused him to lose me this much, he said he was trying something new. Are you serious? What made him it would be okay to lose his client 5% of his portfolio within a week? He knew I wouldn’t let him take such a humongous risk with my portfolio. So he didn’t tell me this when he first recommended me to invest in a particular company.
The people at FI have some screws loose because they are ruining their clients’ funds all the time. I wouldn’t recommend their services to anyone.
I was looking at turning my monies over to Fisher Investments. Reading your experience seems this may not be a great idea. Any advice for me or what investment firm to go with