What Are Some Complaints About Fisher Investments?

Some complaints about Fisher Investments include failure to tailor investors’ portfolios to their specifications and blatant negligence that exposes investors to high levels of risk. Clients have accused the company of failing to honor its fiduciary duty, states Lawyers and Settlements.

Some of the clients of Fisher Investments complain that the company does not invest their money according to their needs, claims Lawyers and Settlements. Although Fisher Investments purports to consider the financial situations and risk tolerance levels of its clients before making investment decisions, the company ignored these considerations and almost exclusively invested their resources in stocks. Differences in investor accounts only emanate from differences in the performance of different sectors of the equity market.

Investors also complain that the equity portfolios of the company are too risky for their risk tolerance and needs, states Lawyers and Settlements. By investing almost 100 percent of its clients’ portfolios in equities, the company exposes its clients to significant loss if the market drops. By failing to diversify its portfolio to include fixed-income assets and other equivalents, Fisher Investments risks devastating the portfolios of retirees if the economy weakens. In 2011, Fisher Investments paid out more than $300,000 in damages to a retiree for bleaching its fiduciary duty, notes Bloomberg.