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Fisher Investments Review & Alternatives 2026 - Top 10 Wealth Advisors
Complete Fisher Investments review for 2026. Compare fees, minimums, and performance against Vanguard, Fidelity, and 9 other top wealth management firms for high-net-worth investors.
Fisher Investments is one of the world’s largest independent wealth management firms, managing $298.7 billion for over 190,000 clients globally. Founded by Ken Fisher in 1979, the firm targets high-net-worth individuals with $1 million or more in investable assets, providing dedicated Investment Counselors and active portfolio management.
But is Fisher Investments worth the premium fees ranging from 1.00% to 1.50% annually? We analyzed Fisher’s services, compared alternatives, and identified the best wealth management firms for investors at every level.
Quick Comparison
| Firm | Best For | Fee | Minimum | Rating |
|---|---|---|---|---|
| 1. Vanguard Personal Advisor Services | Best Overall Value | 0.30% | $50,000 | ★4.9/5 |
| 2. Fisher Investments | Best for $1M+ Portfolios | 1.00%-1.50% | $1,000,000 | ★4.6/5 |
| 3. Empower Personal Wealth | Best for Comprehensive Planning | 0.49%-0.89% | $100,000 | ★4.7/5 |
| 4. Fidelity Wealth Services | Best Full-Service Platform | 0.50%-1.50% | $50,000 | ★4.8/5 |
| 5. Charles Schwab Wealth Advisory | Best for Integrated Banking | 0.80%-1.00% | $25,000 | ★4.7/5 |
| 6. Merrill Guided Investing with Advisor | Best for Bank of America Customers | 0.85% | $20,000 | ★4.5/5 |
| 7. Edward Jones Advisory Solutions | Best for Personalized Service | 1.35% | $5,000 | ★4.4/5 |
| 8. Raymond James Investment Advisors | Best for Customized Portfolios | 1.00%-2.00% | $10,000 | ★4.5/5 |
| 9. Northwestern Mutual Wealth Management | Best for Insurance Integration | 1.00%-2.00% | $25,000 | ★4.3/5 |
| 10. Ameriprise Financial | Best for Comprehensive Planning | 0.50%-2.00% | $25,000 | ★4.2/5 |
Our Top Picks in Detail
Vanguard Personal Advisor Services
Vanguard Personal Advisor Services delivers professional wealth management at a fraction of Fisher's cost. The 0.30% all-in fee includes both advisory services and legendary Vanguard funds, with unlimited access to CFP professionals for portfolios over $50,000.
Pros
- ✓Industry-low 0.30% all-in fee
- ✓Access to CFP professionals
- ✓Backed by $333B in AUM
- ✓Vanguard's legendary low-cost funds
- ✓$50,000 minimum vs Fisher's $1M
Cons
- ✗Less personalized than boutique advisors
- ✗No active management strategies
- ✗Limited tax-loss harvesting
Fisher Investments
Fisher Investments manages $298.7 billion for 190,000+ clients with dedicated Investment Counselors and active management. Founded by Ken Fisher in 1979, the firm charges 1.00%-1.50% annually—significantly higher than competitors—but provides hands-off wealth management for million-dollar portfolios.
Pros
- ✓Fiduciary standard required
- ✓Dedicated Investment Counselor
- ✓Active portfolio management
- ✓190,000+ clients globally
- ✓USA Today Best Financial Advisory Firm
Cons
- ✗Very high $1M minimum
- ✗Fees 1.00%-1.50% vs industry avg 0.30%
- ✗High-volume sales-driven organization
- ✗Average counselor manages 190 households
Empower Personal Wealth
Empower (formerly Personal Capital) bridges the gap between robo-advisors and traditional wealth managers with dedicated CFPs, comprehensive planning, and sophisticated technology. The $100,000 minimum and 0.49%-0.89% fee make it accessible to affluent investors not yet at Fisher's $1M threshold.
Pros
- ✓Dedicated CFP team assigned
- ✓Comprehensive financial planning
- ✓Advanced tax optimization
- ✓$100k minimum vs Fisher's $1M
- ✓Free financial tools included
Cons
- ✗0.49%-0.89% fee still high
- ✗Less personalized than smaller firms
- ✗Technology focus may not suit everyone
Fidelity Wealth Services
Fidelity Wealth Services provides comprehensive wealth management backed by one of the world's largest financial firms. With a $50,000 minimum and fees starting at 0.50%, it offers Fisher-like service at a fraction of the cost, plus access to Fidelity's institutional-grade platform.
Pros
- ✓Only $50k minimum for full service
- ✓Access to Fidelity's entire platform
- ✓Competitive 0.50% starting fee
- ✓Unlimited relationship manager access
- ✓Award-winning customer service
Cons
- ✗Fee can reach 1.50% for smaller accounts
- ✗May push proprietary products
- ✗Less boutique attention than Fisher
Charles Schwab Wealth Advisory
Charles Schwab Wealth Advisory offers professional management for just $25,000 with fees between 0.80%-1.00%. The seamless integration with Schwab banking, investing, and trading platforms makes comprehensive wealth management effortless for investors of all levels.
Pros
- ✓Low $25k minimum investment
- ✓Integrated banking and investing
- ✓0.80% competitive fee
- ✓CFP consultants available
- ✓Branch access nationwide
Cons
- ✗Can push Schwab proprietary funds
- ✗Less personalized than Fisher
- ✗Fee negotiation difficult
Merrill Guided Investing with Advisor
Merrill Guided Investing with Advisor provides unlimited access to financial professionals for just $20,000. Bank of America Preferred Rewards members earn additional benefits, making this an excellent choice for BofA customers seeking professional wealth management.
Pros
- ✓Only $20k minimum required
- ✓Unlimited advisor consultations
- ✓Bank of America Preferred Rewards
- ✓0.85% all-in fee
- ✓Tax-loss harvesting included
Cons
- ✗Best value requires BofA relationship
- ✗Less active management than Fisher
- ✗May recommend proprietary products
Edward Jones Advisory Solutions
Edward Jones Advisory Solutions emphasizes personal relationships with local advisors across 19,000+ branches. While the 1.35% fee is expensive, the $5,000 minimum and face-to-face service appeals to investors valuing human connection over digital platforms.
Pros
- ✓Very low $5k minimum
- ✓Local advisor relationship
- ✓Face-to-face meetings available
- ✓19,000+ branch locations
- ✓Personalized service focus
Cons
- ✗High 1.35% annual fee
- ✗Limited tax optimization
- ✗May push high-commission products
Raymond James Investment Advisors
Raymond James Investment Advisors delivers highly customized portfolios with dedicated advisor relationships. The $10,000 minimum is accessible, but fees ranging from 1.00%-2.00% make this better suited for investors seeking specialized strategies and alternative investments.
Pros
- ✓Highly customized portfolio strategies
- ✓Dedicated financial advisor
- ✓Advanced tax planning
- ✓Alternative investment access
- ✓Flexible $10k minimum
Cons
- ✗Fees 1.00%-2.00% very expensive
- ✗Fee negotiation varies by advisor
- ✗Complex fee structures
Northwestern Mutual Wealth Management
Northwestern Mutual Wealth Management integrates investment management with insurance and comprehensive financial planning. While fees reach 1.00%-2.00%, the holistic approach suits investors seeking coordinated life insurance, disability coverage, and wealth management.
Pros
- ✓Integrated insurance planning
- ✓Comprehensive financial planning
- ✓Strong financial strength ratings
- ✓$25k minimum investment
- ✓Holistic approach to wealth
Cons
- ✗Insurance sales focus
- ✗High 1.00%-2.00% fees
- ✗Not always fiduciary status
- ✗May push life insurance products
Ameriprise Financial
Ameriprise Financial offers comprehensive planning through an extensive network of advisors. With a $25,000 minimum and fees ranging from 0.50%-2.00%, quality and value vary significantly by individual advisor, making thorough vetting essential.
Pros
- ✓$25k minimum for advisory services
- ✓Comprehensive financial planning
- ✓Extensive advisor network
- ✓Retirement planning expertise
- ✓Wide range of investment options
Cons
- ✗Fees highly variable (0.50%-2.00%)
- ✗Not always fiduciary status
- ✗Quality varies by advisor
- ✗May recommend proprietary funds
Fisher Investments: Detailed Review
Company Overview
Fisher Investments was founded in 1979 by Ken Fisher, who built a reputation writing the “Portfolio Strategist” column for Forbes for over 30 years. Today, Fisher Investments manages $298.7 billion for approximately 190,000 clients globally, making it one of the largest independent wealth management firms.
The firm operates as a registered investment advisor (RIA) and fiduciary, meaning advisors are legally required to act in clients’ best interests. With 2,471 licensed advisors and offices worldwide, Fisher targets high-net-worth individuals, businesses, and institutional clients.
Fees and Minimums
Fisher Investments charges annual management fees ranging from 1.00% to 1.50% based on assets under management:
- Up to $1 million: 1.25%
- $1 million to $5 million: 1.125%
- Over $5 million: 1.00%
Minimum Investment: $1,000,000 (some exceptions made case-by-case; WealthBuilder accounts available at $200,000)
These fees are significantly higher than:
- Robo-advisors like Betterment (0.25%)
- Vanguard Personal Advisor Services (0.30%)
- Typical independent RIAs (0.50%-1.00%)
Fisher claims their fees are transparent with no hidden charges, though clients may incur additional brokerage commissions, custodian fees, and ETF expenses depending on portfolio composition.
Investment Approach
Fisher Investments employs an actively managed investment strategy focused on:
- Top-down analysis: Macro-economic and market research
- Global diversification: International equity exposure
- Active management: Regular portfolio adjustments based on market outlook
- Risk management: Tactical asset allocation to manage downside risk
The firm benchmarks many portfolios against the MSCI World Index. Unlike passive index investors, Fisher attempts to outperform through active security selection and market timing—though they don’t publicly disclose performance metrics.
Service Model
Each client receives:
- Dedicated Investment Counselor: Personal point of contact
- Investment Policy Statement: Customized to goals and risk tolerance
- Quarterly Reviews: Portfolio performance and market updates
- 24/7 Account Access: Online portal and mobile app
However, former employees report that the average Investment Counselor manages approximately 190 households, raising questions about truly personalized attention for a firm serving 190,000+ clients.
Pros and Cons
Advantages:
- Fiduciary standard provides legal protection
- Dedicated Investment Counselor assigned to each account
- Active management for investors seeking outperformance
- Substantial firm with $298.7B in assets
- USA Today Best Financial Advisory Firm recognition
Disadvantages:
- Very high $1M minimum excludes most investors
- Fees of 1.00%-1.50% are 3-5x more expensive than alternatives
- Large organization with high advisor-to-client ratios (190:1)
- Sales-driven culture reported by former employees
- No public performance disclosure
- Mixed client reviews (3/5 stars on Trustpilot)
Who Should Consider Fisher Investments?
Fisher Investments may be appropriate for:
- High-net-worth individuals with $1M+ who prefer hands-off investing
- Active management believers willing to pay premium fees for potential outperformance
- Investors seeking comprehensive service including planning, research, and dedicated support
- Those valuing brand reputation and institutional scale
Fisher Investments is likely NOT the best choice for:
- Investors with less than $1 million (consider Vanguard, Fidelity, Schwab instead)
- Cost-conscious investors who prefer passive indexing
- Those seeking highly personalized boutique service (190:1 client ratio limits personalization)
- DIY investors comfortable managing their own portfolios
How We Evaluate Wealth Management Firms
Our comprehensive evaluation methodology examines the factors that matter most to investors:
Fees and Transparency
We analyze the complete cost structure:
- Management fees: Annual percentage charged on assets
- Minimums: Entry barriers and accessibility
- All-in costs: Including fund expenses and trading costs
- Fee breakpoints: How costs decline with larger portfolios
- Transparency: Clarity of fee disclosure and hidden charges
Investment Philosophy
We evaluate portfolio construction and management:
- Active vs passive: Management style and philosophy
- Diversification: Asset allocation across stocks, bonds, alternatives
- Performance: Historical returns and risk-adjusted metrics (when disclosed)
- Benchmarking: Comparison indices and performance targets
- Risk management: Downside protection and volatility control
Service Quality
We assess advisor access and support:
- Human advisors: Dedicated counselors, CFPs, or relationship managers
- Advisor-to-client ratio: Level of personalized attention
- Communication: Frequency of reviews and updates
- Planning services: Retirement, tax, estate planning included
- Technology: Quality of online portal and mobile app
Fiduciary Status
We verify regulatory standing:
- Fiduciary requirement: Legal duty to act in client’s best interest
- Registration: SEC, state, or FINRA oversight
- Transparency: Form ADV disclosures and conflicts of interest
- Reputation: Client reviews, industry awards, regulatory history
Tax Efficiency
We examine tax optimization:
- Tax-loss harvesting: Automated selling to offset gains
- Asset location: Strategic placement across taxable and retirement accounts
- Tax-efficient funds: Use of low-turnover index funds
- Tax planning: Comprehensive strategies beyond investments
Frequently Asked Questions
Is Fisher Investments worth the fees?
Fisher Investments charges 1.00%-1.50% annually, which is significantly higher than alternatives like Vanguard Personal Advisor Services (0.30%) or robo-advisors (0.25%). Whether this premium is justified depends on whether their active management outperforms passive indexing after fees—data Fisher doesn’t disclose publicly. For most investors, lower-cost alternatives provide better value.
What is the minimum investment for Fisher Investments?
Fisher Investments requires $1,000,000 in investable assets (brokerage, retirement, or cash accounts). They offer WealthBuilder accounts starting at $200,000 on a case-by-case basis, though the standard minimum remains $1M. The average client has $1.7 million with the firm.
Is Fisher Investments a fiduciary?
Yes, Fisher Investments is a registered investment advisor (RIA) and fiduciary. This means their advisors are legally required to act in your best interest rather than earning commissions on product sales. However, like all RIAs, Fisher still has conflicts of interest (higher fees = higher revenue).
How does Fisher Investments compare to Vanguard?
Vanguard Personal Advisor Services charges 0.30% (vs Fisher’s 1.00%-1.50%) with a $50,000 minimum (vs Fisher’s $1M). Vanguard uses passive index investing, while Fisher employs active management. For most investors, Vanguard provides better value, but Fisher offers more hands-on service for those wanting active management.
What are the best alternatives to Fisher Investments?
Top alternatives include:
- Vanguard Personal Advisor (0.30%, $50k min) for low-cost passive management
- Empower Personal Wealth (0.49%-0.89%, $100k min) for comprehensive planning
- Fidelity Wealth Services (0.50%-1.50%, $50k min) for full-service platform access
- Charles Schwab Wealth Advisory (0.80%-1.00%, $25k min) for integrated banking
Does Fisher Investments publish performance data?
No, Fisher Investments does not publicly disclose portfolio performance. They benchmark many portfolios against the MSCI World Index but don’t share historical returns. The SEC and FINRA don’t track performance for financial advisors like they do for mutual funds, making it impossible to verify whether Fisher’s active management justifies premium fees.
How many clients does the average Fisher advisor manage?
According to former employee reports, the average Fisher Investments Investment Counselor manages approximately 190 households. With 190,000 total clients and 2,471 advisors, the firm operates at significant scale, which may limit the personalized attention compared to smaller boutique firms.
What do Fisher Investments clients say?
Fisher Investments has mixed reviews: 3/5 stars on Trustpilot with complaints about aggressive sales tactics and high fees, though some clients praise their service and communication. The firm won USA Today’s Best Financial Advisory Firm award based on recommendations from advisors, clients, and experts. With 190,000+ clients, many are satisfied despite the premium pricing.
Can I negotiate Fisher Investments fees?
Fisher Investments has published fee tiers (1.25% up to $1M, 1.125% for $1M-$5M, 1.00% over $5M), but whether fees are negotiable isn’t publicly disclosed. Larger portfolios ($10M+) may have leverage to negotiate, though most investors should expect to pay the standard rates.
Is Fisher Investments better than a local financial advisor?
It depends on your priorities. Fisher offers institutional scale, research capabilities, and active management expertise. Local independent advisors may provide more personalized attention, lower advisor-to-client ratios, and potentially lower fees (0.50%-1.00%). Interview multiple advisors, compare fee structures, and assess which service model fits your needs.