Fisher Investments review 2026

Investors with $1 million or more

Investors with $1 million or more are Fisher's main market. Its site says it "focuses on high net worth individuals with assets of $1,000,000 or more."⁴ Its Form ADV lists 125,844 high net worth clients, averaging about $2.2 million each.

Fisher may accept smaller accounts. Those pay 1.50% on everything.

Investors who want a firm to make every trade

Investors who want a firm to make every trade get discretionary management. That means Fisher trades without asking you first. You can still set limits in writing, such as a stock you won't hold.

Investors who want an active portfolio

Investors who want an active portfolio get equity, fixed income, or blended accounts managed against benchmarks. Most of the money sits in individual stocks, bonds, and cash, and Fisher may use defensive strategies. This review covers what you'll pay for that approach, not whether it beats an index.

Fisher Investments pros

One fee and no commissions to Fisher

Fisher is paid only through its asset-based fee. It earns no commissions on trades or products, though custodian and fund costs come on top.

Your money stays at Schwab or Fidelity

Fisher doesn't take possession of client assets, so your money stays at a custodian such as Schwab or Fidelity. The custodian sends your statements directly.

No disciplinary events in its filings

Fisher's February 2026 brochure says there have been "no disciplinary events and no material legal events" related to the firm or any management person.

Lower rates on larger balances

Larger accounts pay a lower rate on each slice, down to 1.00% above $5 million. You can ask Fisher to combine your accounts to reach a lower band.

Fisher Investments cons

1.50% on the whole balance under $1 million

Below $1 million, every dollar pays 1.50%. That's $7,500 a year on $500,000.

No fee schedule on its website

Fisher's fees page describes "a simple and competitive tiered advisory fee" but lists no rates. The rates are in its SEC filings, so ask for the schedule in writing.

Billing can start before your money arrives

Fisher's fee typically starts the day you sign its Letter of Agreement, which "may begin before assets are received."

Withdrawals can raise your rate

If withdrawals take your managed balance below $900,000, Fisher bills 1.50% on all of it. If you plan to draw income from a $1 million account, ask how close you'd get to that line.

Who makes the investment decisions

Investment decisions are made by that committee: the Executive Chairman, a Vice Chairman, an Executive Vice President, and two Senior Vice Presidents. You get a dedicated contact or service team and quarterly reviews. The brochure says a no-cost financial plan "is offered to some clients," so ask whether one comes with your account.

Where your money is held

Your money is held at a custodian, mainly Charles Schwab or Fidelity. Each holds at least 10% of Fisher's managed account assets, according to its Form ADV.⁵ The custodian sends you trade confirmations and monthly statements, so compare them with Fisher's quarterly reports.

SIPC coverage at the custodian protects you if the broker fails, up to its limits. It doesn't cover market losses.

Fisher's own funds in your account

Fisher's own funds can show up in your account, because its Tactical Multi-Purpose Fund can hold part of it. Fisher waives its fee on that part to the extent the fund pays Fisher, and you still pay the fund's costs. You can restrict this in writing.

Fisher's fee schedule

Fisher's fee schedule has two parts: one rate for balances under $1 million and three bands above it.

Income-only accounts over $5 million use a lower schedule, from 0.75% down to 0.28%. And if withdrawals take a larger account below $900,000, the whole balance pays 1.50%.

What the fee costs in dollars

In dollars, Fisher's fee runs from $3,750 a year on $250,000 to $23,750 a year on $2 million.

The table uses the list schedule and a flat balance, before custodian and fund costs. Because the rate drops at $1 million, a $999,999 account pays about $15,000 a year, or $2,500 more than a $1,000,000 account. If you're just under that line, ask whether adding your other accounts, or a spouse's, would get you over it.

Costs on top of Fisher's fee

Costs on top of Fisher's fee come from your custodian and from any funds in your account. You'll pay brokerage commissions, other custodian fees, and the expenses of any ETFs or structured notes. Fisher earns none of them.

Fisher Investments vs flat-fee financial planners

Fisher Investments vs flat-fee financial planners is a choice between a percentage of your balance and a fixed yearly price.

The flat-fee figures are each firm's cheapest plan at list price on October 18, 2026. At 1.50%, Fisher costs more than Facet Core once your balance passes about $173,000. It passes Domain Money Essential's renewal price at about $193,000 and Range Premium at about $263,000.

The flat-fee firms build a written plan, and their higher plans file your taxes, from $5,200 at Domain Money Strategic. The Facet review, Domain Money review, and Range review cover each firm, and Range vs Facet and Facet alternatives compare them.

Fisher Investments vs Edelman Financial Engines

Fisher Investments vs Edelman Financial Engines compares two percentage fees. Edelman's starts higher, at 1.75% on the first $400,000, with lower rates on each slice above it, so at $500,000 you'd pay Edelman $8,250 a year and Fisher $7,500.

Fisher vs Edelman compares them in dollars, and the Edelman Financial Engines review, Creative Planning review, and Corient review cover other percentage-fee firms.

Fisher Investments vs investing on your own

Fisher Investments vs investing on your own at a brokerage like Schwab or Vanguard is a choice between paying a firm to trade and doing it yourself for the funds' costs. Fisher's client accounts sit at Schwab or Fidelity anyway, so the real difference is who decides. The Vanguard review covers doing it yourself, the best robo-advisors run a portfolio for a fraction of 1%, and the Empower review covers an advisor at 0.89% from $100,000 to under $1 million.

Before you sign, work out 1.50% or 1.25% of your own balance, and ask Fisher for the schedule and every extra cost in writing. Then project that balance with the Tweed Retirement Calculator, since a percentage fee grows as your account does.