ComplaintsforFisher Investments

• Initial Complaint

  11/04/2024

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  I have contacted Fisher Investments and instructed them to stop contacting me via mail, email and phone. They continue to contact me. I will also be filing a complaint with *****.

  Business response

  11/07/2024

  Dear ************************** you for your comments. We take feedback seriously and always honor all requests to unsubscribe from our marketing in compliance with all laws and regulations.
  
  As requested, we have unsubscribed you from future marketing communications. If you have questions or need further support, please email onlinefeedback[AT]******. Thank you.

  Customer response

  11/07/2024

  I have reviewed the business response and accept this resolution. If I receive any future contact from Fisher Investments I will file a complaint with *****.

• Initial Complaint

  10/11/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  The account was closed in May of 2024 and final billing was paid on August 16, 2024 to 100% close out the account, they have decided to go ahead and debit our bank account again on October 11, 2024 for more money and can not give any explanation they sent an invoice that does not explain anything

  Business response

  10/25/2024

  Dear Mr. ************************ received your Better Business Bureau complaint (#********). Per our conversation with you on 10/18/24, we believe this matter has been resolved to your satisfaction. We wish you all the best.
  
  Thank you,
  
  - Fisher Investments

• Initial Complaint

  08/28/2024

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  I left fisher investments the beginning of July. I left because they didnt do what I asked and act in my best interest. While on vacation in ****** things were sold that put me in serious tax complications. I had talked to them about this many times and right before I left on my trip. I allowed them to transfer some stock out of my personal account that they dont manage to there account to sell. While Im in ****** I check my personal account they wiped me out and took all my money and stock. I get back and tell them Im leaving and try to be a bigger person and not rock the boat and Im told by my representative youre making the biggest mistake of your life. We thought we had some kind of respect owed to us after four years. Nothing but rude to us. We were told nothing like this would happen without talking to us because we told them not to sell if it put us in a tax problem. We also were told many times the fee was less than they were charging . My fault for trusting what was said. We also put stocks down that we didnt want to own because of our beliefs and were told we would not have them in our account. When I told them to sell they only sold in one account and left the others. They didnt look out for my best interest. When I left they didnt pull out fees for the quarter and now want me to pay them. I feel like the mess they put me in and the mess up on my personal account I shouldnt owe them anything. Judiciary I keep hearing that from them but they dont follow what a judiciary is supposed to do. I know theres things I can do without going thru the state on this all I want is the fees to be cancelled for my last quarter. After all that happened its like a slap in the the face .we did you wrong but we still want our money.

  Customer response

  09/03/2024

  The business has contacted me and we have come to an agreement and waiting for the agreement to be sent to me in an email. I want it in an email form so I have proof of settlement. I took responsibility for my part and I feel like they took responsibility for there part. It will cost me money and they took part in the financial aspect also. I respect that I finally got the right person to understand and realize my side and that there was a real problem. I want to say they did make me money while I was there that wasnt my complaint I beleive they did a good job of investing and with the settlement I think we both can say we now can serve each other better. I would recommend them with the understanding make sure the process fits you .

• Initial Complaint

  08/26/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  For some reason, Fisher Investments thinks I am wealthy and willing to give them money to invest. This business refuses to cease contacting me. I have made multiple requests for them to cease all contact, going back nearly a year (maybe more). In a recent phone call demanding they cease snail-mail spamming me, I was told that it was their free-speech right to solicit business from anyone they desire, and there is nothing I can do to stop them. At this point, I view their continued contact to be harassment, and want it to stop.PLEASE HELP!

  Business response

  08/30/2024

  Dear ****************,
  
  Thank you for your comments. We take feedback seriously and honor all requests to unsubscribe from our marketing in compliance with all laws and regulations.
  
  As requested, we have unsubscribed your address from any future mailings. If you have questions or need further support, please email onlinefeedback[AT]fi.com. 

  Customer response

  09/02/2024

  I have reviewed the business response and accept this resolution. 

  However, I have contacted the business previously to be removed from its contact list, only to get more solicitations.

  You can close this case, but I will again file a complaint when/if I receive additional contact from Fisher Investments.

  Thank you, BBB.

  *******************
  

• Initial Complaint

  07/01/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I have asked Fisher Investments several times to stop spamming me and the company repeatedly ignores my requests. Please cease the annoying spam emails. Thank you.

  Business response

  07/11/2024

  Dear *************,
  
  As requested, we have unsubscribed you from future emails. If you have questions or need further support, please email onlinefeedback[AT]fi.com. Thank you.

  Customer response

  07/12/2024

  I have reviewed the business response and accept this resolution. 

  Customer response

  08/12/2024

  Fisher Investments continues to spam me. I filed a BBB complaint some time ago and Fisher agreed to stop contacting me. I thought the issue was resolved. Now Fisher has resumed contact, against my wishes. It seems a poor business model to badger prospective clients, including those who request no contact, under the assumption that the prospective customer will relent to the onslaught of emails and decide to do business with the spamming entity. Poor.

  Business response

  08/13/2024

  Dear **************,
  
  We have re-confirmed that your ********************************** to be unsubscribed and should not be receiving any emails. To help us investigate further so we can resolve this for you, please attach in the BBB portal a screenshot or copy of the emails you are seeing. Or if easier, you can email ********************* with these details. Thank you. 

• Initial Complaint

  05/29/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  Despite repeatedly telling them I'm not interested in their services. Fisher Investments continues to ****** me and call me a couple time per year.

  Business response

  06/04/2024

  Dear ************,
  
  As requested, we have added you to our do not call list.Thank you.

  Customer response

  06/04/2024

  I have reviewed the business response and accept this resolution. 

  Customer response

  06/04/2024

  I have reviewed the business response and accept this resolution. 

• Initial Complaint

  04/27/2024

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  I reluctantly was persauded by Fisher's hard sell tactics to move my life savings to their investment firm last year to have them actively manage my 401k. Fisher promised that in exchange for their much higher management fees, that I would make much more money than I would where either myself or my wife were invested. This turned out to be completely false, I made much less, but when I protested, I was told to stay with them and it would improve. It didn't. Meanwhile, my wife did much better with another firm without the usually steep fees. Finally, I removed my money last fall and returned it to my old firm. Now Fisher has billed me for $2473.14 in additional fees, claiming they could not assess my money before I removed it which is unhear of. I was considering taking further action against them based on how much they have already cost me. I decided to just let go and move on until I kept receiving invoice ***********************. I once thought they were at least a reputable firm but this tactic changes everything. I thought it best to appeal to Fisher's sense of decency with the help of BBB before pursuing other avenues. I am seeking to have this invoice removed.

  Business response

  05/07/2024

  Dear ************,
  
  Thank you for speaking further with our ************* Services Manager about your complaint so we could come to a resolution. As we discussed, we are sorry to hear you were disappointed in your experience with us and we wish we could have worked with you over a more meaningful time period. As no money managerincluding Fisher Investmentsoutperforms each and every year, we believe its often best to evaluate an investment managers ability over longer periods. We believe our disciplined, time-tested portfolio management approach has helped us navigate many different market cycles for our clients over time.
  
  Thank you again for having been a valued client. We wish you and your family all the very best.

  Customer response

  05/07/2024

  I am rejecting this response because:   

  While I did receive a phone from Fisher and the person I spoke with did offer to waive the invoice which is the subject of this complaint,  it was not addressed at all in their response.  I would like some kind of written confirmation of the waiver of the invoice either by email, text or within BBB.  Then I will consider the matter resolved.

   

  Business response

  05/23/2024

  Dear ************,
  
  We have sent you written confirmation as requested.Please contact our ************* Services Manager, *********************** at ************ should you need anything further. Thank you again. 

  Customer response

  05/23/2024

  I have reviewed the business response and accept this resolution. 

• Initial Complaint

  11/07/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I opened my account with ******************************************* back in 5/2021 and invested over ********** via my IRA ********* In the 2 years I have been with them I have had 3 account managers, 1 was great, 1 was a fill in and the most recent one was a lady by the name of *********************. In the year 2022 and 2023 (7/2023 onward) lost over 100K and not once during this time span was I ever contacted about my declining portfolio. Yes, I rec'd the typical statements and quarterly write up which you need to be a math major to understand. No personal service whatsoever about options to bring back my investment. Yet ever quarter the company continued to take their fee of 2000+ (800 a month) but for what. I have Only when I contacted them in November and told them I was pulling out my funds they offered me flexible ways to use my money. By then it was too late and my decision was made. I am seeking reimbursement or an itemization of what these fees entailed so I may review since I am disputing these fees for poor consumer money management and failure to discuss options with me on the loss of income during the time period of 2022 into 2023.

  Business response

  12/07/2023

  Dear ***************,
  
  We have been working to resolve your complaint (#********), but have been unable to reach you. Please contact ************************************ Services Group Vice President at ************ so we may address your feedback.

• Initial Complaint

  07/08/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  A transfer of funds request was initiated 4-4-23 to move my *** from Fisher - where it had been underperforming the ****** for a number of quarters- to a financial firm offering additional services, lower cost, etc. Fisher should have already deducted the prior quarters fee, and I reached out to my contact on April 6 to confirm that they would deduct the fee before the transfer took place, explaining that I did not have access to other funds to pay the fee once funds are transferred. By deducting the fee, it is a non-taxable transaction. Instead, I received an invoice for the fee that was dated 4/6/23. Meanwhile, the shares were not deposited from the Fisher custodial account into the new custodial account until 4/10/23. Presumably, then, the funds were still under Fishers control when they issued the invoice instead of deducting them. I am requesting that they cancel this invoice.

  Business response

  07/13/2023

  Dear ********************,
  
  The Better Business Bureau has notified us of the complaint you posted on their website (#********), and has asked us to respond.
  
  In your review, you state that Fisher Investments should have deducted the prior quarters management fee from your account before you initiated a transfer out request on 4/4/2023. Thank you for speaking with us recently about why we were not able to deduct these fees directly from your account. We regret your disappointment regarding this matter, and we thank you for giving us a chance to explain. We are glad we were able to resolve this matter to your satisfaction.
  
  We enjoyed having you as a client, and wish you all the best.
  
  Thank you,
  Fisher Investments

  Customer response

  07/14/2023

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *************************

• Initial Complaint

  05/04/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Fisher investments faiuled in their fiduciary responsibility and did not work in my best interest to secure my retirement funds even after many phone calls and emails. The attached "Confidential Client Profile" provided before ******* took my funds shows my retirement income of a $19,000 pension and $12,000 short-term rental room in my home. Putting much of my funds at risk with aggressive funds and a lack of ability to create the $6,000 per month I stated I needed through dividend fund dispersal created a unnecessary loss to my funds. Without my written consent, Fisher "tax harvested" funds, I.E. they threw away gains "to save me IRS charges on my tax return" I had stated in writing any gains over $250,000 would be something that would cause capital gains and tax liabilit concerns. An income UNDER $30,000 says it all. The Fisher chain of vice presidents that I was funneled to missed My 2022 income has NO TAX liability and with teh tax harvesting carry over to future years. 1. The $15,000 loss was a unnecessary device to employ, 2. I did not agree to this 3. The fact I pleaaded for help and a review with change in funds Fisher ignored my request. I have asked that they return ALL funds they charged for their "advisor fees" as well as the $15,000 loss which totals right at $23,000. They have declined to do this. I have attached some of the material submitted to Fisher I feel explains my position but have other emails if you feel they are needed. I see popsted online Fisher has had law suits due to this very reason of mismanagement.

  Business response

  05/11/2023

  Dear Ms. **************************** Better Business Bureau notified us of the complaint you posted on their website (#********), and asked us to respond.
  
  Contrary to your comments, Fisher Investments (FI) always placed your best interests firstconsistent with our fiduciary duty. Before we implemented our recommended strategy in your accounts, we had detailed discussions with you regarding your investment time horizon, income needs, and goals. Our recommended strategy for your assets was based on the goals and objectives you communicated to usto support your stated cash flow needs and grow the assets over your investment time horizon. We reviewed our recommended strategy with you in detail and you confirmed you agreed with it and were comfortable.
  
  In your review, you state the tax loss harvesting trades placed in your account were unnecessary and done without your written consent.Tax loss harvesting is a standard industry practice and can be especially beneficial to help reduce clients tax burdens. Prior to conducting tax loss harvesting, we send a courtesy notice to all clients, which you did receive.
  
  In your complaint, you claimed you lost money because of tax loss harvesting. This is wrong. During tax loss harvesting, positions were sold to realize existing losses in your account, which you can use to offset taxable gains, thus minimizing your future tax liability. The proceeds of these trades were re-invested in similar holdings, which we believe will likely replicate the upside potential of the positions we sold. Tax loss harvesting did not reduce the total value of your portfolio nor its expected return. We made considerable efforts to explain these facts to you in our numerous telephone conversations, emails, and our April 25, 2023 letter to you.
  
  You mentioned tax loss harvesting was not necessary due to your income. As we have explained to you in the past, tax loss harvesting can help offset a tax bill that *** result from selling positions at a gain in the future. 
  
  Ms. ********, we regret we did not meet your expectations; however, your portfolio was managed appropriately and we believe it was on track to meet your stated goals over your investment time horizon. We thank you for having been a client and wish you all the best.
  
  Thank you,
  Fisher Investments
  

  Customer response

  05/18/2023

   
  Complaint: 20019357
  
  I am rejecting this response because:
  

  Complaint: 20019357
  
  I am rejecting this response because:
  
  Complaint: 20019357
  
  I am rejecting this response because:
  Fisher has submitted a canned response which falsely portrays the situtaion they created in placing my funds in a pool of many other accounts that did not attned to my  individualized needs.  Their system of a cahin of command with VP's   that ****** you in and lead you into thinking they are your adviusor then never heard of again as  the funds get eaten up witrth fees and poractices such as "tax harvesting"   that they still suggest was  the correct placement and use for my funds.  The October 2021  Client Profile clearly shows my  income, and my statemnet that gains over $250,000 would start to create a taxable event I would watch. 
  
  Fisher NEVER discussed particular funds but a waste of some time was spent going over a 42  page booklet with ********************* "A Complete Approach to Reaching Your Investment Goals" mostly a historical perspective of the market. ******** did not send me email to opt out of  tax harvesting. They shoud have sent a signature request to OPT IN. Many phone cxalls to my "advisor" *********************; and many emails  which show there was a  issue which eventually reqiuired my wuthdrawal of funds whern the time seemd right to cut the cord.    My losses were huge, their fees undeserved and my funds artifically thrown away in the name of saving me taxes for 2022 were insane.  I OWE NO IRS TAXES for 2022.  My income, at the poverty level and my ability to get anyone  to help driect my portfolio funds inexcusable.  To be told *** Fisher and his team of a few were in chare of my funds is ludacrous.  I was no doubt thrown into a vat of hundreds of other investors. and the  "team," had no clue of what my needs were nor did they care. Fisher Investments, as their ad states "is clearly different."   *** Fisher is a very wealthy man and his past success is no indication he has provided the leadership to properly make investments in my best interests. Making wild risky investments  have left my retirnent aty risk.  Saying my life expectancy was 95 and my account was set up to provide over that tiume line is insane, as I needed money NOW.   Quite the contrary to securing mmy future, Fisher Investments has squandered my hard earned retirement funds and  are in default of their fiducary resaponsibilty to me as their client.
  
  ***********************************************************

   

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩