Edelman Financial Engines vs Fisher Investments for wealth management in 2026

Who you work with

Fisher wins on consistency in who you work with. Its brochure assigns every private client a dedicated contact or service team, while Edelman says clients below a certain asset level or with simpler needs "will usually work with a centralized, team-based group," for the same fee.³ At Fisher, though, a five-member Investment Policy Committee makes the investment decisions, so the person you talk to isn't the one choosing your holdings.

Before you sign, ask each firm who your contact will be and who decides your trades.

How they invest your money

There's no winner on how they invest, just two different methods. Fisher picks individual stocks and bonds from its own market views, and Edelman builds portfolios from mutual funds and ETFs.

Fisher's committee sets strategy for equity, fixed income, and blended accounts. It can also hold its own Tactical Multi-Purpose Fund in your account, waiving its fee on those assets. Edelman's models run from conservative to aggressive with passive and active funds, and eligible clients can add private equity or private credit.

Financial planning and taxes

Edelman wins on the scope of its financial planning. A planner builds your plan before managing your money, and Fisher offers a no-cost plan only to some clients. Edelman's Form CRS lists "a one-time fee of up to $10,000 for financial plan development, which can be waived in part or in whole,"⁴ so get any waiver in writing before your first meeting.

For taxes, Fisher has arrangements with outside firms for tax preparation, and those firms can charge separately.

What the fee covers

Edelman wins on what the fee covers. Its wrap fee includes trades at its program custodians, and Fisher clients pay commissions and custodian fees on top. At both firms you also pay the expense ratios of any funds or ETFs you hold.

Edelman's wrap fee still leaves out IRA fees, wire and transfer fees, and account closing fees charged by the custodian.

Help with your 401(k)

Edelman wins for your 401(k). It manages workplace accounts when your employer offers it, and Fisher's private client service doesn't. Use the Tweed 401(k) Calculator to see what your plan balance could grow to, and read best 401(k) rollover if you're leaving a job, since both firms earn more when you move money to them.

How their advisors are paid

Neither wins on how advisors are paid. Both firms pay the people who bring in your money based on how much you invest. Fisher's Form CRS says the staff who introduce its services "are compensated based on the total value of assets you entrust to our management."⁵

Edelman's office planners earn a percentage of the fees on the assets they manage, plus more for new assets and client retention. Neither firm's advisers earn commissions on the investments in your account.

Leaving either firm

Leaving is a tie. Both firms bill each quarter after the fact, so neither holds a prepaid fee you'd need back.

Fisher lets you end the agreement in writing at any time and bills through the day before you leave. At Edelman, budget for the custodian's transfer and closing fees, which the wrap fee doesn't cover.

Where the cheaper firm switches

The cheaper firm switches where the rates change: at $775,000, at $1 million, and at about $1.37 million. A small change in your balance can change the answer.

At $900,000, you'd pay $13,500 at Fisher and $12,875 at Edelman. Fisher also bills 1.50% again if withdrawals take your managed balance below $900,000, which matters once you start taking retirement income.

Compared with a flat-fee planner

Compared with a flat-fee planner at list price, both firms cost more: $3,550 to $5,650 a year more at $500,000.

Those firms add their own fund or portfolio costs, and they work differently from a firm that runs your portfolio day to day. See the Facet review, Range review, and Domain Money review for what each includes, and Range vs Facet and Facet alternatives for choosing between them.

Choose Edelman Financial Engines if

• You have between $775,000 and $1 million, or more than about $1.37 million, where its banded fee costs less
• You want a planner to build a financial plan and a fund-based portfolio
• Your employer offers Edelman for your 401(k) and you want that account managed
• You want trading costs included in your fee

Choose Fisher Investments if

• You have less than $775,000, or $1 million to about $1.37 million, where its fee costs less
• You want a firm to choose individual stocks and bonds for you
• You want the same contact or service team on your account whatever its size
• You don't need a written financial plan as part of the service

Before you sign an advisory agreement, run your balance through the Tweed Retirement Calculator twice: once with the fee taken out each year and once without. A percentage fee comes out of your balance every quarter, so the gap grows with time.