I got a call from Fisher Investments today claiming they could substantially exceed the market long term (24% net of fees) on a moderate risk portfolio at a cost of 1.25-1.50 Aum. Does anyone have experience working with them? Would appreciate counsel on weather their claims are credible and if their services were worth the fee. Thank you for your counsel.

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You don't need us to tell you that that's empty promises

likesmart

Run!

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For the hills!

likesmart

These guys are chodes, don’t do it

likesmartfunny

Too much hype, founder has various skeletons in closet, and I low balled them years ago on NW (said I had $2m) for intro conversation. They ghosted me.

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You know what they say, when it’s too good to be true…….

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My grandfather, and now my father use Fisher. They’ve performed well for my grandfather over ~2 decades, and his friends have done even better taking on more risk. I cannot personally verify, but I do believe they have historically outperformed by a decent margin, somewhere around 400bps, BECAUSE they did will in 2008 and 2020.

24% long term however is blasphemy. I am surprised that was your experience.

Making this claim is a lawsuit waiting to happen, and securities / FINRA arbitration lawyers everywhere are waiting anxiously.

likefunny

I spoke to them about my personal situation, and they made all sorts of initial promises. I responded with, "Okay, if you can do what you say you can do with my Independence restrictions (I'm a B4 partner), I'm in." They then asked to see my Independence restrictions, so I gave them broker level access. They got back to me saying they could not help me, but that I should call them after I retire when my Independence restrictions will no longer be in effect. I appreciate that they did the proper due diligence.

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Dubious. I would stay far away.

likesmart

Also, 1.25 and 1.5 is high. The quote my family has gotten is 1, for all the service they offer

Agree. Anything over 1 is high, and even that is questionable you are getting your money’s worth. I put a portion in Walmart stock, it’s up 186% and I paid zero fees.

You can't make 24% without taking additional risk

Ask him what risk you would have to take on to get that potential return

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