Fisher Investments

Last updated

Fisher Investments
Company type Private
Industry Financial services
Founded1979;45 years ago (1979)
Founder Ken Fisher
Headquarters
Plano, Texas
,
U.S.
Number of locations
29 offices (2023)
Area served
United States, Canada, Europe, Middle East, Asia, Australasia
Key people
  • Damian Ornani (CEO)
  • Jill Hitchcock (Senior EVP US Private Client Group)
  • Carrianne Coffey (Senior EVP Fisher Investments International)
  • Justin Arbuckle (Senior EVP Fisher Investments Institutional Group)
Services Asset management
AUM $275+ billion (June 2024)
Members135,000
Number of employees
5,200 (2023)
Subsidiaries Fisher Investments Europe, Grüner Fisher Investments GmbH
Website www.fisherinvestments.com/en-us
Footnotes /references
[1] [2] [3]

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

Contents

History

Ken Fisher founded the firm in 1979, 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 2024, Fisher Investments and its subsidiaries manage over $275 billion in assets for individual and institutional investors globally. [6] The firm maintains three principal business units: Fisher Investments Institutional Group, Fisher Investments Private Client Group, and Fisher Investments Private Client Group International. [7] In June 2024, the firm announced its 401(k) Solutions business for small to mid-sized retirement plans would be spun off into an independent company called Fisher Retirement Solutions. [8] [9]

The firm incorporated Fisher Investments Europe Limited in 1999 with its headquarters in London. [10] Later it expanded the firm's US operations by opening offices in Vancouver, Washington; Plano, Texas; and Tampa, Florida. [11] [12] 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. [13]

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. [14] In 2020, the company opened a fourth building on the campus. The five-story building has room for an additional 1,100 employees. [15]

Fisher Investments has also opened international offices in eight countries. [16]

The firm announced its intention to move its headquarters to Texas in March 2023. [17] The firm intends to complete the move by June 2023. [17] The company has stated they will maintain offices in Camas, Washington; however staffing will be prioritized in other locations. [18]

In June 2024, Fisher Investments announced that Advent International and ADIA had acquired a minority interest in the firm for $2.5-$3 billion. The deal would result in the firm being valued at $13 billion. Ken Fisher will maintain about 70% ownership. [19]

Ratings and awards

Grüner Fisher Investments was rated "Best Employer in the (German) Financial Sector" in 2015 by the German investment magazine, Cash.Online, [20] and again in 2016 by the magazine Das Investment. [21]

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. [22]

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. [23] In late 2019, Ken Fisher came under fire for comments he made at a summit for CEOs, where he likened winning clients to "going up to a woman in a bar and saying, hey I want to talk about what's in your pants." [24]

Related Research Articles

<span class="mw-page-title-main">Morgan Stanley</span> American financial services company

Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in 41 countries and more than 90,000 employees, the firm's clients include corporations, governments, institutions, and individuals. Morgan Stanley ranked No. 61 in the 2023 Fortune 500 list of the largest United States corporations by total revenue and in the same year ranked #30 in Forbes Global 2000.

<span class="mw-page-title-main">Fidelity Investments</span> American multinational financial services corporation

Fidelity Investments, formerly known as Fidelity Management & Research (FMR), is an American multinational financial services corporation based in Boston, Massachusetts. Established in 1946, the company is one of the largest asset managers in the world, with $5.4 trillion in assets under management, and $14.1 trillion in assets under administration, as of June 2024, Fidelity Investments operates a brokerage firm, manages a large family of mutual funds, provides fund distribution and investment advice, retirement services, index funds, wealth management, securities execution and clearance, asset custody, and life insurance.

The United Services Automobile Association (USAA) is an American financial services company providing insurance and banking products exclusively to members of the military, veterans and their families. It was founded in 1922 in San Antonio, Texas, by a group of 25 U.S. Army officers as a mechanism for mutual self-insurance, when they were unable to secure auto insurance because of the perception that they, as military officers, were a high-risk group.

<span class="mw-page-title-main">Charles Schwab Corporation</span> American financial services company

The Charles Schwab Corporation is an American multinational financial services company. It offers banking, commercial banking, investing and related services including consulting, and wealth management advisory services to both retail and institutional clients. It has over 380 branches, primarily in financial centers in the United States and the United Kingdom. It is on the list of largest banks in the United States by assets. As of December 31, 2023, it had $8.5 trillion in client assets, 34.8 million active brokerage accounts, 5.2 million corporate retirement plan participants, and 1.8 million banking accounts. It also offers a donor advised fund for clients seeking to donate securities. It was founded in San Francisco, California, and is headquartered in Westlake, Texas.

<span class="mw-page-title-main">Franklin Templeton Investments</span> Global investment firm founded in New York City in 1947

Franklin Resources, Inc. is an American multinational holding company that, together with its subsidiaries, is referred to as Franklin Templeton; it is a global investment firm founded in New York City in 1947 as Franklin Distributors, Inc. It is listed on the New York Stock Exchange under the ticker symbol BEN, in honor of Benjamin Franklin, for whom the company is named, and who was admired by founder Rupert Johnson Sr. In 1973, the company's headquarters moved from New York to San Mateo, California.

<span class="mw-page-title-main">PIMCO</span> US global investment management firm

Pacific Investment Management Company LLC is an American investment management firm focusing on active fixed income management worldwide. PIMCO manages investments in many asset classes such as fixed income, equities and other financial assets across public and private markets. PIMCO is one of the largest investment managers, actively managing more than $2 trillion in assets for central banks, sovereign wealth funds, pension funds, corporations, foundations and endowments, and individual investors around the world. According to the Sovereign Wealth Fund Institute, PIMCO is the 6th-largest asset manager in the world by managed AUM.

In finance, assets under management (AUM), sometimes called fund under management, refers to the total market value of all financial assets that a financial institution—such as a mutual fund, venture capital firm, or depository institution—or a decentralized network protocol manages and invests, typically on behalf of its clients. Funds may be managed for clients, platform users, or solely for themselves, such as in the case of a financial institution which has mutual funds or holds its own venture capital. The definition and formula for calculating AUM may differ from one entity to another.

<span class="mw-page-title-main">Bridgewater Associates</span> U.S. based investment management firm

Bridgewater Associates, LP is an American investment management firm founded by Ray Dalio in 1975. The firm serves institutional clients including pension funds, endowments, foundations, foreign governments, and central banks. As of 2022, Bridgewater has posted the second highest gains of any hedge fund since its inception in 1975. The firm began as an institutional investment advisory service, graduated to institutional investing, and pioneered the risk parity investment approach in 1996.

<span class="mw-page-title-main">Citadel LLC</span> American hedge fund and financial services provider

Citadel LLC is an American multinational hedge fund and financial services company. Founded in 1990 by Ken Griffin, it has more than $63 billion in assets under management as of June 2024. The company has over 2,800 employees, with corporate headquarters in Miami, Florida, and offices throughout North America, Asia, and Europe. Founder, CEO and Co-CIO Griffin owns approximately 85% of the firm. As of December 2022, Citadel is one of the most profitable hedge funds in the world, posting $74 billion in net gains since its inception in 1990, making it the most successful hedge fund in history, according to CNBC.

Kenneth Lawrence Fisher is an American billionaire investment analyst, author, and the founder and executive chairman of Fisher Investments, a fee-only financial adviser. Fisher's Forbes "Portfolio Strategy" column ran from 1984 to 2017, making him the longest continuously-running columnist in the magazine's history. Fisher is now known for writing monthly, native language columns in international outlets. Fisher has authored eleven books on investing, and research papers in the field of behavioral finance. In 2010, he was included in Investment Advisor magazine's "30 for 30" list of the 30 most influential people in the investment advisory business over the last 30 years. As of August 2024, his net worth was estimated at $11.2 billion.

<span class="mw-page-title-main">Stifel</span> American investment bank

Stifel Financial Corp. is an American multinational independent investment bank and financial services company created under the Stifel name in July 1983 and listed on the New York Stock Exchange on November 24, 1986. Its predecessor company was founded in 1890 as the Altheimer and Rawlings Investment Company and is headquartered in downtown St. Louis, Missouri.

<span class="mw-page-title-main">Canaccord Genuity</span> Canadian financial company

Canaccord Genuity Group Inc. is an investment banking and financial services company that specializes in wealth management and brokerage in capital markets. It is the largest independent investment dealer in Canada. The firm focuses on growth companies, with operations in 10 countries. Canaccord Genuity, the international capital markets division, is based in Canada, with offices in the US, the UK, France, Germany, Ireland, Hong Kong, China, Singapore, Dubai, Australia, Barbados, and The Bahamas.

<span class="mw-page-title-main">JLL (company)</span> Real estate consultancy firm

Jones Lang LaSalle Incorporated (JLL) is a global real estate services company, founded in the United Kingdom with offices in 80 countries. The company also provides investment management services worldwide, including services to institutional and retail investors, and to high-net-worth individuals, as well as technology products through JLL Technologies, and VC investments via its PropTech fund, JLL Spark. The company is ranked 193 on the Fortune 500.

<span class="mw-page-title-main">PGIM</span> American Investment Management firm

PGIM, Inc. (PGIM), formerly known as Prudential Investment Management, functions as the asset management arm of Prudential Financial, an American life insurance company.

<span class="mw-page-title-main">Moelis & Company</span> Global independent investment bank

Moelis & Company is a global investment bank that provides financial advisory services to corporations, governments, and financial sponsors. The firm advises on strategic decisions such as mergers and acquisitions, recapitalizations and restructurings and other corporate finance matters. Moelis has advised on more than $4 trillion in transactions since its inception.

Brevan Howard is a European hedge fund management company based in Jersey with its funds domiciled in the Cayman Islands. Brevan Howard was founded in 2002 by Alan Howard, alongside four other co-founders including Chris Rokos, and is widely considered to be one of the top global macro hedge funds.

Fiduciary Trust Company International is a United States–based wealth management firm that provides investment management and wealth management services. It has served high-net-worth families, foundations, and endowments since 1931. As of 2019, the firm had $71 billion in assets under administration and management, serving clients in 48 countries. The firm and its subsidiaries maintain offices in New York City, and several other locations.

Betterment is an American financial advisory company which provides digital investment, retirement and cash management services.

Creative Planning, LLC is an independent wealth management firm and registered investment advisor majority owned by American financial advisor Peter Mallouk. The firm was founded in 1983, and is headquartered in Overland Park, Kansas.

<span class="mw-page-title-main">Balyasny Asset Management</span> Hedge Fund based in Chicago

Balyasny Asset Management is an American investment management firm headquartered in Chicago. Outside the U.S., it has additional offices in Canada, London and Asia.

References

  1. ↑ "Our History". Fisher Investments.
  2. ↑ "Fisher Investments AUM". Fisher Investments.
  3. ↑ "Meet Our Leadership Team". Fisher Investments.
  4. ↑ Parton, Mitchell (March 27, 2023). "Fisher Investments' headquarters move to Plano will add jobs in North Texas". The Dallas Morning News.
  5. ↑ "Fisher Investments names Damian Ornani CEO as Ken Fisher relinquishes role". Investment News. March 22, 2016. Retrieved November 4, 2016.
  6. ↑ Thomas, Lauren; Cooper, Laura (June 16, 2024). "Fisher Investments Strikes Deal With Advent". The Wall Street Journal.
  7. ↑ "Meet Fisher Investments' Global Executive Leadership Team". Fisher Investments. Retrieved October 9, 2024.
  8. ↑ Britton, Diana (June 24, 2024). "Fisher Investments to Spin Out $4.75B 401(k) Business". Wealth Management.
  9. ↑ Corbin, Kenneth (June 25, 2024). "Fisher Investments to Spin Off 401(k) Business, Which Will Be Led by Founder Ken Fisher's Son". Barron's.
  10. ↑ "Fisher Investments Europe Ltd". Bloomberg .
  11. ↑ 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. Retrieved August 30, 2020.
  12. ↑ Joner, Cami (December 26, 2013). "Work Starts on 2nd Fisher Building". The Columbian. Vancouver, WA. Archived from the original on June 11, 2014. Retrieved January 20, 2014.
  13. ↑ Staff. "Fisher Investments expands into Germany". Reuters. Archived from the original on March 24, 2020. Retrieved July 16, 2007.
  14. ↑ Acheson, Heather (June 7, 2011). "Fisher Investments plans for two new buildings". Camas-Washougal Post-Record. Archived from the original on March 25, 2015. Retrieved March 25, 2015.
  15. ↑ "Fisher Investments announces completion of five-story office building in Camas". The Columbian. Retrieved October 22, 2020.
  16. ↑ Findell, Elizabeth (August 10, 2024). "Welcome to Y'all Street, Texas' Burgeoning Financial Hub". The Wall Street Journal.
  17. 1 2 Hagan, Shelly; Woolley, Suzanne (March 28, 2023). "Ken Fisher Boosts Wall Street West With $197 Billion Texas Shift". Bloomberg. Retrieved March 28, 2023.
  18. ↑ "Fisher Investments: Camas offices won't close over HQ shift to Texas". The Columbian. March 12, 2024. Retrieved March 21, 2024.
  19. ↑ Thomas, Lauren; Cooper, Laura (June 16, 2024). "Fisher Investments Strikes Deal With Advent". The Wall Street Journal.
  20. ↑ "Die besten Arbeitgeber in der Finanzbranche". Cash.Online. November 18, 2015. Retrieved November 4, 2016.
  21. ↑ "Die nettesten Chefs der Finanzbranche". Das Investment. October 14, 2016. Retrieved November 4, 2016.
  22. ↑ "ADVFN International Financial Awards 2016". uk.advfn.com. October 14, 2016. Retrieved November 4, 2016.
  23. ↑ Willmer, Sabrina. "Inside Ken Fisher's Private Kingdom, Where Hardball Culture Reels in Billions". bloomberg.com. Bloomberg. Retrieved October 21, 2019.
  24. ↑ CFP®, Darla Mercado (October 11, 2019). "Here's the Ken Fisher audio that inflamed executives at a financial conference". CNBC. Retrieved March 21, 2024.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.