When it comes to choosing a financial advisor or wealth management firm to manage your investments, Captrust and Fisher Investments are two big names that often come up. Both companies have been around for decades and manage billions in assets, but they have some key differences that investors should understand.
This comprehensive guide will compare and contrast Captrust and Fisher Investments to help you determine which may be a better fit for your investment needs and goals.
A Brief Comparison Table
| Category | Captrust | Fisher Investments |
| Founded | 1997 | 1979 |
| Headquarters | Raleigh, NC | Camas, WA |
| AUM | $68 billion | $197 billion |
| Client Focus | Institutions, retirement plans, HNWIs | Primarily individual investors |
| Investment Approach | Goals-based, open architecture | Active management, proprietary research |
| Fees | 0.50% – 1.25% of AUM | Tiered fee, 1.5% down to 0.85% |
| Minimum | $1 million | $500,000 |
| Client Experience | Dedicated advisor, face-to-face focus | Less personal, more portfolio focused |
| Pros | Customized portfolios, client relationships | Established firm, large research team |
| Cons | Higher fees than robo-advisors | Less personalized service |
Overview of Captrust and Fisher Investments
Captrust is an independent wealth management firm founded in 1997 and based in Raleigh, NC. Captrust manages over $68 billion in assets with a focus on providing advisory services to retirement plan sponsors, endowments, foundations, and high net worth individuals. They take a consultative approach and provide investment advisory, fiduciary consulting, wealth management, and retirement plan advisory services.
Fisher Investments was founded in 1979 by CEO Ken Fisher and is headquartered in Camas, WA. Fisher Investments is one of the largest independent fee-based investment advisers in the US, managing over $197 billion in assets. The firm utilizes proprietary research and a disciplined investment strategy across a range of equity, fixed income, and alternative investment portfolios tailored to various types of investors.
Both Captrust and Fisher Investments have a national presence and work with clients across the U.S. Fisher tends to focus more on individual investors, while Captrust focuses primarily on institutional investors and retirement plans.
Investment Philosophy & Approach
When it comes to investment philosophy and approach, Captrust and Fisher differ significantly.
Captrust takes a goals-based wealth management approach focused on understanding each client’s unique objectives. They have an open architecture for their investment platform, evaluating both active and passive investment strategies across equities, fixed income, real assets, hedge funds, and private capital opportunities to construct customized portfolios.
Fisher Investments utilizes a active management, top-down approach driven by their own global research. Portfolios are constructed based on their macro analysis of geopolitics, monetary and fiscal policies, and global economies.
They aim to identify areas of economic growth globally to invest in areas they believe will outperform the market. Portfolios contain primarily equity investments across global industries and markets.
Captrust has a flexible approach tailoring the portfolio to client goals, while Fisher has a set investment methodology, they implement across clients based on their market research.
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Fees and Minimums
The fees and minimums required for each advisory firm are outlined below:
- Captrust
- Fees: Captrust charges an annual fee based on a percentage of assets under management, typically ranging from 0.50% to 1.25%.
- Minimum: $1 million minimum to open an account.
- Fisher Investments
- Fees: Fisher Investments charges a tiered annual fee based on assets under management. Fees range from 1.5% down to 0.85% as account values increase.
- Minimum: $500,000 minimum account size to work with Fisher Investments as an individual investor.
The fee structure is one of the main differences between the two firms. Captrust has a flexible fee based on account size and services needed, while Fisher uses a set tiered fee schedule across all clients. Fisher also has a higher account minimum than Captrust.
Client Experience
In terms of client experience, there are some notable differences to consider:
- Captrust places a strong emphasis on face-to-face client relationships. Each client has a dedicated advisor who takes time to understand their goals and objectives at the start. Ongoing communications continue through regular meetings, phone calls, and emails as preferred.
- Fisher Investments conducts an initial phone interview to get client information. After the account is open, ongoing communication is primarily through monthly statements, investment commentaryletters, and phone/email as needed. They don’t provide a dedicated personal advisor.
Captrust aims to develop deep client relationships, while Fisher uses more of a portfolio management approach with less frequent direct contact. This may make Captrust a better fit for investors who want a more personalized experience.
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Pros and Cons of Captrust and Fisher Investments
Here is an overview summarizing some pros and cons of using Captrust Vs. Fisher Investments:
Captrust
Pros:
- Open investment platform to customize portfolios
- Goal-based advice tailored to each investor
- Strong focus on face-to-face client relationships
- Lower minimum account size ($1 million)
Cons:
- Less focus on proprietary research
- Higher fees compared to robo-advisors
- Requires higher investable assets to start
Fisher Investments
Pros:
- Has own experienced research team
- Manages over $197 billion in assets
- Lower minimum compared to many advisor firms
- Tiered fee structure reduces fees as assets grow
Cons:
- Less personal client relationships
- Primarily uses active management and own strategies
- Higher minimum than robo-advisors ($500,000)
- Higher fee for accounts under $10 million
As you can see, Captrust excels in customized portfolios and client relationships, while Fisher focuses more on their proprietary research and strategies across a large asset base. Consider which pros align closest to your preferences.
Also Read: Comparison Between Edelman Financial Engines And Fisher Investments.
Frequently Asked Questions (FAQ)
Captrust is widely considered one of the top wealth management and advisory firms in the industry. They have received numerous awards and recognition, including being named one of the top 25 RIA firms by InvestmentNews. Captrust also carries an A+ rating from the Better Business Bureau. Overall, they have an excellent reputation and the data shows they have delivered very strong investment results over long periods for clients.
Fisher Investments has built a large successful business over 40+ years and manages over $197 billion in assets, so they certainly have credibility in managing money. However, their fees are higher than many automated robo-advisors today, so investors need to ensure Fisher’s more active management style can outperform the market sufficiently to justify the higher fee. But overall Fisher is a reputable firm with a solid track record.
Fisher Investments charges a tiered fee schedule that ranges from 1.5% down to 0.85%, based on the amount of assets under management. Specifically, accounts with under $1 million are charged 1.5%, accounts between $1-$5 million are 1.25%, accounts between $5-$10 million are charged 1%, and accounts over $10 million are 0.85%. As your assets grow with Fisher, your fee percentage declines at certain tiers.
Yes, Captrust is a fiduciary advisor, meaning they are legally required to provide investment advice and recommendations that are in the best interests of their clients. They avoid any conflicts of interest that could influence advice, and take their fiduciary responsibility very seriously.
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Conclusion
In summary, both Captrust and Fisher Investments are established successful firms managing billions in assets, but they have different approaches. Captrust provides customized portfolio management focused on each investor’s goals, while Fisher implements their own research-driven investment strategies across accounts.
Consider how these differences in philosophy, fees, client experience and other factors align with your preferences to determine which may be a better fit. Checking fiduciary status is also key.