Fisher Investment thought

NedS

dunstonh said:

 I've been in discussion with them for a week or two and they claim they can do better than my current IFA. 

Have they substantiated that claim?

Without a crystal ball, how could anyone possibly substantiate such a claim. Of course they would claim that because they want the business, but it's complete nonsense. They may do better, they may also do worse but don't based your decision on such claims which are meaningless.

[Deleted User]

Ask what their returns were in 2008/2009.  You will find their funds dropped like a stone.  Anyone can show great returns by taking on more risk during good times. 

Having said this, there could be some advantage over an IFA picking investments.  They do the stock picking for you. IFA picks funds.  In the latter case you have two layers between profits and your pocket. 

Audaxer

Scallypud said:

dunstonh said:

 I've been in discussion with them for a week or two and they claim they can do better than my current IFA. 

Have they substantiated that claim?

i.e. have they been given detail of your existing investments and have they run a comparison against theirs and backed up their statement with evidence?    if yes, then it's hard to argue that point.  if no, then it could be all talk.

If they haven't asked you what you have then it is complete BS.   You cannot say one thing is better than another without knowing what the other is.

They claim to make 10% per annum.

There will always be years you can make 10%.  It is the long term average that matters.   Or are they suggesting 10% p.a. is the long term average and if so, at what risk level.

It was hard to take it all in as they bombarded me with facts and figures. They claim to made 10.1% over 20 years per annum.

A high risk portfolio may have made an average of 10.1% over the last 20 years, but it does not mean it will make the same average return over the next 20 years. It could be significantly less, particularly if there are a couple of big equity crashes in the next few years.

bostonerimus

Fisher are a high pressure US financial advisor firm that has expanded internationally. They charge high fees to invest your money. I would avoid them.

ex-pat_scot

bostonerimus said:

Fisher are a high pressure US financial advisor firm that has expanded internationally. They charge high fees to invest your money. I would avoid them.

My experience, based on my research and due diligence. I did not proceed.

[Deleted User]

bostonerimus said:

Fisher are a high pressure US financial advisor firm that has expanded internationally. They charge high fees to invest your money. I would avoid them.

In Canada they charge 1%, all inclusive.  No further fund MERs, trade charges, etc.  Certainly more than I would want to pay but comparable to people who use IFAs with platform and fund costs on top. Could be even less. 

Their pitch is that Fisher has a method and analytical data which allows them to move in and out of investments depending on point in the cycle, etc.  And that they can personalize it all for you.   And that charges don’t matter if you get higher return.  Identical to what some IFAs claim here.  

redpete

Deleted_User said:

bostonerimus said:

Fisher are a high pressure US financial advisor firm that has expanded internationally. They charge high fees to invest your money. I would avoid them.

In Canada they charge 1%, all inclusive.  No further fund MERs, trade charges, etc.  Certainly more than I would want to pay but comparable to people who use IFAs with platform and fund costs on top. Could be even less. 

Their pitch is that Fisher has a method and analytical data which allows them to move in and out of investments depending on point in the cycle, etc.  And that they can personalize it all for you.   And that charges don’t matter if you get higher return.  Identical to what some IFAs claim here.  

I was offered (for > £500k) 1% set up fee and 1.5% annually, or maybe 1.5% set up and 1% annually.  I didn't see much personalisation beyond selecting different proportions of equities and bonds.  Their sales pitch is, or course, that they can achieve returns that net of fees are better than a simple tracking strategy.