FISHER INVESTMENTS REVIEW
This complaint was posted on NAS on 1st Feb, 2020 and is a permanent record located here: https://www.nameandshame.com/fisher-investments-5YCTI/they-lost-me-65000-id5ydmm .
They lost me $65,000!
Fisher Investments is a private wealth management firm. They claim they make money when you make money so they help you get richer. But that’s only a bunch of sugary lies so they can get your account. I had hired those people to handle my portfolio. I had never hired a wealth management firm before so I was a little skeptical but I had some investing experience. When I met with their representative, he had promised me that they won’t invest my money in any mutual funds. I didn’t want to invest in mutual funds because I was investing for short-term goals and the only options available at that point weren’t suitable for that strategy. I trusted them with my portfolio but after just 5 weeks, I realized what a big mistake I had made.
These morons had lost me $65,000 within 5 weeks. That’s a lot of money considering it was 50% of my portfolio. The worst of it all is they didn’t even inform me of these losses. I came to find out about this when I contacted them myself. I hadn’t asked them, they might’ve never told me about my portfolio. I was in shock when I heard the news. Losing 50% of your portfolio seems like a major downfall especially when you’ve trusted a team of professionals. I asked them how this happened and told them to arrange a meeting. Instead of apologizing, they just got all evasive and told me that their representative can’t meet me at the moment.
I just canceled my account and fired those people. I realized they wouldn’t do me any good. They kept spamming me with phone calls and tried to justify thier poor performance through various reasons. They blamed the market, the conditions, even China, but those excuses weren’t justified.
I had told them to mitigate my losses. If my investment lost more than $25,000, they were supposed to notify me and ask me if I wanted to keep my funds in that specific stock or fund. They didn’t do that. They charge a heavy fee for their services and after such a horrible experience their fee is surely a joke.
They are good at making big claims. But when it comes to handling investments, they are nothing but a bunch of morons. I wouldn’t advise anyone to hire Fisher Investments. They will lose your money and blame the country for it.