Fisher Investments Explained

Fisher Investments
Type:Private
Industry:Financial services
Predecessors:-->
Successors:-->
Founder:Ken Fisher
Hq Location City:Plano, Texas
Hq Location Country:U.S.
Num Locations:29 offices
Num Locations Year:2023
Area Served:United States, Canada, Europe, Middle East, Asia, Australasia
Services:Asset management
Aum:$211 billion (June 30, 2023)
Owners:-->
Members:135,000
Num Employees:5,200
Num Employees Year:2023
Subsid:Fisher Investments Europe, Grüner Fisher Investments GmbH
Footnotes:[1] [2] [3]

Fisher Investments is an independent money management firm headquartered in Plano, Texas.[4]

History

Ken Fisher founded the firm in 1979, incorporated in 1986, then served as CEO until July 2016, when he was succeeded by long-time Fisher Investments employee Damian Ornani. Fisher remains active as the firm's executive chairman and co-chief investment officer.[5]

As of June 2023, Fisher Investments and its subsidiaries manage over $210 billion in assets for individual and institutional investors globally.[6] The firm maintains four principal business units: Fisher Investments Institutional Group, Fisher Investments Private Client Group, Fisher Investments 401(k) Solutions Group and Fisher Investments Private Client Group International.[7]

The firm incorporated Fisher Investments Europe Limited in 1999 with its headquarters in London.[8] Later it expanded the firm's US operations by opening offices in Vancouver, Washington; Plano, Texas; and Tampa, Florida.[9] [10] In 2005, the firm was reorganized as a Delaware limited liability company. The firm also entered into a joint venture in Germany to offer investment services as Grüner Fisher Investments GmbH, which is now a wholly owned subsidiary of Fisher Investments.[11]

In late 2011, Fisher Investments opened a new headquarters on the 120-acre Fisher Creek campus in Camas, Washington. Over the next three years, Fisher Investments expanded its local presence by constructing two additional buildings on the Fisher Creek campus.[12] In 2020, the company opened a fourth building on the campus. The five-story building has room for an additional 1,100 employees.[13]

Fisher Investments has also opened international offices, including locations in the United Kingdom, Luxembourg, Ireland,[14] Germany, and elsewhere.[15] [16] Fisher Investments’ global footprint requires significant effort to produce content for non-English-speaking clients. The firm translates content into Dutch, French, German, Italian, Spanish, Danish, Swedish, Finnish, Korean, Chinese and Japanese.[17]

The firm announced its intention to move its headquarters to Texas in March 2023.[18] The firm intends to complete the move by June 2023.[18] The company has stated they will maintain offices in Camas, Washington; however staffing will be prioritized in other locations.[19]

Ratings and awards

For seven consecutive years (2014–2020) the firm was recognized as one of the top 300 US-based Registered Investment Advisors (RIAs) in Financial Times' Top 300 list. The survey ranks money managers with at least $300 million total assets under management.[20] [21] [22] [23] [24] [25]

In 2019 and 2020, Financial Times and Ignites Research recognized Fisher Investments as one of its Top Retirement Advisers in its FT 401 list. The line-up is described as "a list of elite professionals who specialize in advising US employers on their defined contribution plans."[26] [27]

In 2016, Fisher Investments ranked #164 on the Pensions and Investments/Towers Watson list of the World's 500 largest money managers.[28]

Grüner Fisher Investments was rated "Best Employer in the (German) Financial Sector" in 2015 by the German investment magazine, Cash.Online,[29] and again in 2016 by the magazine Das Investment.[30] The honor is based on a survey of employees across 115 different companies, ranked on 13 individual factors including career opportunities, work climate and atmosphere.

Fisher Investments Europe, a wholly owned subsidiary of Fisher Investments, was recognized by ADVFN as Wealth Manager of the Year in its International Financial Awards, announced March 8, 2016.[31] The awards aim to recognize and celebrate best of breed products and services from across the financial industry, both nationally and internationally.

Corporate culture

According to a 2019 Bloomberg article based on anonymous interviews with former and current Fisher Investments employees, the company's workers contend there is a culture of fear and stress. The pressure on employees to acquire and retain clients is said to be particularly intense.[32] In late 2019, Ken Fisher came under fire for comments he made at a summit for CEOs.[33] Bloomberg initially reported Fisher referenced winning money-management clients to "trying to get into a girl's pants." In an interview at the time, Fisher said he felt his comments were taken out of context. In February 2020, Bloomberg corrected their reporting and wrote that Fisher cautioned against using financial planning as a way to sign up new clients and compared it to approaching a woman at a bar.

Notes and References

  1. Web site: Our History . Fisher Investments.
  2. Web site: Fisher Investments AUM . Fisher Investments.
  3. Web site: Meet Our Leadership Team . Fisher Investments.
  4. News: Parton . Mitchell . March 27, 2023 . Fisher Investments' headquarters move to Plano will add jobs in North Texas . The Dallas Morning News.
  5. Web site: Fisher Investments names Damian Ornani CEO as Ken Fisher relinquishes role. March 22, 2016. Investment News. November 4, 2016.
  6. Web site: Assets Under Management Fisher Investments. July 7, 2021. www.fisherinvestments.com.
  7. Web site: Ken Fisher Reveals His Market-Beating Secrets. August 4, 2015. Wollman Rusoff. Jane. June 1, 2015.
  8. Web site: Fisher Investments Europe Ltd . Bloomberg.
  9. News: Breen. Oisin. June 18, 2020. 'Firing on all cylinders,' Fisher Investments forms East Coast hub with 600 desks after it adds another $10 billion of AUM, leaving last year's social media firestorm in the dust. RIABiz. RIABiz. August 30, 2020.
  10. News: Joner . Cami . Work Starts on 2nd Fisher Building . The Columbian . Vancouver, WA . December 26, 2013 . https://web.archive.org/web/20140611073052/http://www.highbeam.com/doc/1P2-35528904.html. dead. June 11, 2014. January 20, 2014 .
  11. News: Staff . Fisher Investments expands into Germany . July 16, 2007 . Reuters.
  12. Web site: Acheson . Heather . Fisher Investments plans for two new buildings . Camas-Washougal Post-Record . June 7, 2011 . March 25, 2015 . https://web.archive.org/web/20150325183200/http://www.camaspostrecord.com/news/2011/jun/07/fisher-investments-plans-two-new-buildings/ . March 25, 2015.
  13. Web site: Fisher Investments announces completion of five-story office building in Camas. October 22, 2020. The Columbian. en-US.
  14. Web site: US giant Fisher to enter Irish market. Independent.ie. en. August 12, 2019.
  15. News: Business News . Fisher Investments opens at DIFC . March 29, 2014 . Khaleej Times.
  16. Web site: Fisher Investments Address and Office Locations. FisherInvestments.com . March 25, 2015.
  17. Web site: March 10, 2020. At Fisher Investments, Localization Drives Revenue Through Client Retention. December 23, 2020. Slator. en-US.
  18. News: Hagan . Shelly . Woolley . Suzanne . Ken Fisher Boosts Wall Street West With $197 Billion Texas Shift . March 28, 2023 . Bloomberg . March 28, 2023.
  19. Web site: 2024-03-12 . Fisher Investments: Camas offices won’t close over HQ shift to Texas . 2024-03-21 . The Columbian . en-US.
  20. Web site: FT 300 Top Registered Investment Advisers. June 26, 2014. Financial Times. November 15, 2016.
  21. Web site: FT 300 Top Registered Investment Advisers . March 25, 2015.
  22. Web site: The FT 300 List. https://ghostarchive.org/archive/20221211231238/https://www.ft.com/content/37bd6974-31b9-11e6-ad39-3fee5ffe5b5b. December 11, 2022. subscription. live. June 15, 2016. ft.com. Financial Times. November 15, 2016.
  23. Web site: FT 300 — the list: the top US registered investment advisers 2018. https://ghostarchive.org/archive/20221211231254/https://www.ft.com/content/a07f2b38-4d54-11e8-97e4-13afc22d86d4. December 11, 2022. subscription. live. Fox. Loren. June 28, 2018. Financial Times. en-GB. August 12, 2019.
  24. Web site: FT 300 list: the top US registered investment advisers in 2019. https://ghostarchive.org/archive/20221211231210/https://www.ft.com/content/44d2b2b2-6cef-11e9-9ff9-8c855179f1c4. December 11, 2022. subscription. live. Fox. Loren. June 27, 2019. Financial Times. en-GB. August 12, 2019.
  25. Web site: Investments. Fisher. Fisher Investments Recognized by the Financial Times as a Top 300 Registered Investment Advisers (RIAs) for Seventh Consecutive Year. October 10, 2020. www.prnewswire.com. en.
  26. Web site: Fox. Loren. October 10, 2019. FT 401: complete list of the top US retirement advisers. https://ghostarchive.org/archive/20221211231228/https://www.ft.com/content/c0cb89ee-b8f7-11e9-8a88-aa6628ac896c. December 11, 2022. subscription. live. October 10, 2020. www.ft.com. en-GB.
  27. Web site: Fox. Loren. October 22, 2020. FT 401: complete list of the top US retirement advisers. https://ghostarchive.org/archive/20221211231245/https://www.ft.com/content/a19bc519-77ef-4cbb-b4df-861c3a9152fa. December 11, 2022. subscription. live. October 22, 2020. www.ft.com. en-GB.
  28. Web site: Table: The world's largest money managers. October 31, 2016. pionline.com. Pensions & Investments. November 15, 2016.
  29. Web site: Die besten Arbeitgeber in der Finanzbranche. November 18, 2015. Cash.Online. November 4, 2016.
  30. Web site: Die nettesten Chefs der Finanzbranche. October 14, 2016. Das Investment. November 4, 2016.
  31. Web site: ADVFN International Financial Awards 2016. October 14, 2016. uk.advfn.com. November 4, 2016.
  32. Web site: Willmer . Sabrina . Inside Ken Fisher's Private Kingdom, Where Hardball Culture Reels in Billions . October 21, 2019 . bloomberg.com . Bloomberg.
  33. Web site: CFP® . Darla Mercado . 2019-10-11 . Here's the Ken Fisher audio that inflamed executives at a financial conference . 2024-03-21 . CNBC . en.

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