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Fisher Investments

From Wikipedia - Reading time: 5 min

Fisher Investments
Company typePrivate
IndustryFinancial services
Founded1979; 45 years ago (1979)
FounderKen 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)
ServicesAsset management
AUM$275+ billion (June 2024)
Members135,000
Number of employees
5,200 (2023)
SubsidiariesFisher Investments Europe, Grüner Fisher Investments GmbH
Websitewww.fisherinvestments.com/en-us
Footnotes / references
[1][2][3]

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

History

[edit]

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

[edit]

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

[edit]

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]

References

[edit]
  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. ^ a b 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.
Licensed under CC BY-SA 3.0 | Source: https://en.wikipedia.org/wiki/Fisher_Investments
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