Fisher Investments’ Private Client Group (PCG) is an important part of the company’s overall investment services. As one of the world’s largest independent investment advisers, Fisher Investments manages over $197 billion for thousands of private and institutional clients globally. The PCG specifically caters to high net worth individuals looking for personalized investment management. In this article, we will take a closer look at what the Fisher Investments PCG offers, who it serves, and how it operates. With key insights into the fees, investment approach and client experience, investors can better determine if the PCG aligns with their needs. Multiple mentions of fisher investments throughout provide useful context.
Fisher Investments PCG Targets High Net Worth Clients
The Fisher Investments Private Client Group aims to provide customized portfolio management for investors with $1 million or more in investable assets. This differs from the firm’s institutional clients that have tens or hundreds of millions invested. As a high touch service, PCG advisers develop personalized plans based on each client’s specific return objectives, risk tolerance and liquidity needs. Close collaboration ensures portfolios align with changing life circumstances. Many PCG clients also appreciate having a dedicated adviser available to answer questions and provide reassurance during periods of market volatility. With high client minimums and significant fees however, the service is better suited to those with ample assets versus smaller investors.
Fisher Investments PCG Uses Top-Down Investment Approach
Fisher Investments PCG constructs client portfolios using the firm’s overall top-down investment strategy. This macro-oriented approach focuses on factors like interest rates, inflation and the business cycle rather than bottoms-up stock picking. Investment Policy Committee members including CEO Ken Fisher use these global macro trends to establish market outlooks. They then decide target asset allocations across equities, fixed income and cash. Individual securities are selected to fulfill the desired portfolio positioning. This process results in broadly diversified portfolios tilted toward areas of the market Fisher expects to outperform. While the PCG approach leverages the firm’s resources, some clients may prefer an adviser who focuses more on achieving goals through personalized portfolios versus implementing Fisher Investment’s prevailing strategy.
Typical PCG Fee Schedule and Account Minimums
The Fisher Investments Private Client Group has tiered annual management fees starting at 1.5% on the first $2 million invested. Fees then gradually decline for larger account balances, dropping to just 0.65% on amounts over $50 million. The complete fee schedule is readily available in the PCG Form ADV. This is higher than the typical 1% fee charged by many wealth managers but includes extras like a dedicated adviser. The initial investment minimum is $1 million with alternatives down to $500,000 for some circumstances. Accounts are held directly at large custodians like Fidelity and Schwab rather than at Fisher Investments. There are no upfront fees, redemption charges or commissions. While reasonable given the customized services, investors still need to determine if the PCG will provide sufficient value to justify the recurrent costs.
Fisher Investments PCG Client Experience and Reviews
The Fisher Investments Private Client Group emphasizes regular communication between advisers and investors. Clients have phone access to review portfolio performance, discuss financial planning issues and get market perspective. Scheduled reviews are also conducted along with in-person meetings depending on geographical proximity. Many PCG clients highlight this personal attention as a key benefit of the service. In addition to direct consultations, Fisher provides various educational resources covering investing, retirement planning and more. Client satisfaction is generally strong, evidenced by the PCG’s high rates of retention and referrals. As with any manager however, prospective clients should still do their due diligence and ask questions to confirm an excellent fit.
Evaluating If Fisher Investments PCG Is a Good Fit
For high net worth investors seeking truly customized portfolio management coupled with accessible advisors, the Fisher Investments PCG warrants consideration. The service stands out through dedicated advisers and tailored investing approach aligned to each client’s needs and preferences. Entry investing minimums are higher than some wealth managers but lower than multi-family offices. Fees are reasonable for the robust service offering. While satisfied with most aspects, some clients wish portfolios were less correlated to Fisher’s market outlooks. As with any adviser, investors should ensure the PCG philosophy, fees, communication and performance reporting suit their requirements.
The Fisher Investments Private Client Group provides personalized portfolio management for investors with $1 million or more to invest. Key services include dedicated advisers, customized portfolios, and extensive communication. Fees are on the higher side but include extras like education. The PCG leverages Fisher’s overall investment strategy, which some clients would prefer to be more independent. With its emphasis on tailored investing and client experience, the Private Client Group warrants consideration among high net worth investors seeking an adviser aligned with their needs.