When it comes to investing your hard-earned money and planning for retirement, finding the right financial advisor can make all the difference. Two popular investment firms to consider are Fisher Investments and Ameriprise Financial.
Both offer personalized investment management and financial planning services, but they take different approaches.
This comprehensive guide will compare the key features, pros and cons of Fisher Investments and Ameriprise to help you decide which may be a better fit for your needs and goals.
We’ll cover investment strategies, fees, account minimums, customer service rankings, and more so you can make an informed decision.
A Brief Comparison Table
| Category | Fisher Investments | Ameriprise Financial |
| Investment Approach | Uses proprietary top-down strategy and in-house research to construct diversified portfolios | Customized portfolios created by advisors using active and passive strategies |
| Typical Fees | Annual fee of 1.0%-1.5% of assets under management | Annual fee of 1.0%-2.0% of assets under management |
| Account Minimums | $50,000 minimum | $10,000 – $500,000 minimums depending on program |
| Services Offered | Portfolio management, financial planning | Portfolio management, financial planning, banking products, insurance |
| Customer Service | Mixed reviews, lacks personal touch | Better reviewed for personalized service |
| Clients Served | Mainly middle-income individual investors | Broad range – individuals, businesses, retirement plans |
| Performance History | Strong long-term returns, but mixed Vs. benchmarks short-term | Varies by portfolio, mixed performance for active funds |
Overview Of Fisher Investments
Fisher Investments is an independent global money management firm founded in 1979 by Ken Fisher. They manage over $197 billion for over 175,000 clients across North America, Europe, and Asia.
Fisher Investments offers personalized portfolio management tailored to each client’s individual needs.
Their investment strategy aims to build diversified portfolios across multiple asset classes to balance risks and returns over time.
Portfolios are regularly rebalanced and continuously monitored by Fisher’s research team.
Some key features of Fisher Investments include:
- Fee structure: Fisher charges an annual fee based on assets under management, ranging from 1.0% – 1.5%. There are no commissions or upfront fees.
- Account minimums: $50,000 minimum to open an account.
- Investment approach: Uses in-house research to construct globally diversified portfolios with low costs. Invests across stocks, bonds, ETFs, etc based on a top-down macro strategy.
- Clients served: Fisher focuses on serving individual investors, high net worth individuals, retirement plans, charities, and institutions.
- Services offered: Personalized portfolio management, retirement planning, financial planning.
Overview Of Ameriprise Financial
Ameriprise Financial is one of the largest financial services companies in the U.S. with over $1 trillion in assets under management. It offers a wide range of products and services including investments, insurance, annuities, asset management, and financial planning.
Ameriprise financial advisors provide personalized advice based on a client’s investment objectives and risk tolerance. They offer a range of managed portfolios, from actively managed stock and bond funds to passively managed ETF/mutual fund portfolios.
Here are some key details on Ameriprise Financial:
- Fee structure: Fees vary depending on services used and account size. Ameriprise advisors charge an annual fee based on assets under management, typically ranging from 1.0 – 2.0%.
- Account minimums: Requirements vary by program, but can range from $10,000 – $500,000 for investment accounts.
- Investment approach: Advisors construct customized portfolios using Amepriprise’s own proprietary funds and products, ETFs, mutual funds, individual securities.
- Clients served: Ameriprise serves individual investors and business retirement accounts and plans.
- Services offered: Personal financial planning, discretionary investment management, retirement planning, insurance, and banking products.
Comparison Between Fisher Investments And Ameriprise
Investment Management And Performance
Fisher and Ameriprise take different approaches when it comes to investment management.
Fisher Investments uses a top-down investment strategy driven by in-house research. Portfolios are highly diversified across global asset classes and continuously evaluated based on macro conditions.
According to analysis by AdvisoryHQ, Fisher Investments’ performance has been strong over the long-term, outperforming the S&P 500 benchmark over 3-, 5-, and 10-year periods. However, they have underperformed during recent bear markets and volatile periods.
Ameriprise Financial provides customized advice and portfolios tailored to each client. Their advisors utilize both active and passive strategies using proprietary products and non-affiliated funds.
Ameriprise’s performance relative to benchmarks varies across accounts. According to a 2020 analysis by AdvisoryHQ, Ameriprise’s active equity strategies have struggled to match their respective benchmarks over 10 years. Their diversified investment strategies performed well over 3- and 5-year periods analyzed.
So, in terms of investment management and performance, Fisher takes a consistent top-down strategy and has delivered good long-term returns. Ameriprise provides more personalized portfolios that have been less consistent against benchmarks but offer customization.
Also Read: Comparison Between Fidelity And Ameriprise.
Fees And Account Minimums
The fees and account minimums you can expect from Fisher and Ameriprise are:
Fisher Investments
- Annual fee: 1.0% – 1.5% of assets under management
- Account minimum: $50,000
Ameriprise Financial
- Annual fee: 1.0% – 2.0% of assets under management
- Account minimums: $10,000 to $500,000 depending on program
The fees charged are fairly typical for full-service investment advisors. Fisher Investments has lower minimums required compared to Ameriprise, making them more accessible for smaller accounts.
Fisher also has a simple, straightforward fee structure based on assets under management. Ameriprise’s fees vary across their different advisory programs and services used.
So Fisher may have more fee transparency and lower minimums required for most individual investors. But Ameriprise offers the flexibility of different service levels and programs.
Customer Service And Reviews
Providing excellent customer service is crucial for financial advisors. How do Fisher and Ameriprise compare based on online customer feedback and reviews?
Fisher Investments gets mixed reviews for their customer service. On consumer review sites like ConsumerAffairs and Trustpilot, Fisher receives around 2.5 out of 5 stars.
Many reviews praise Fisher’s solid long-term investment performance. But common complaints include high account fees, high-pressure sales tactics, and poor customer service responsiveness.
Ameriprise Financial earns higher marks for customer service, scoring 3.5 out of 5 stars on ConsumerAffairs. Reviews indicate their advisors provide personalized attention and support. But some find the fees expensive and have trouble reaching advisors.
Based on online feedback, Ameriprise appears to provide a better overall client experience. But Fisher’s focus on investment performance seems to offset their weaker customer service ratings for some investors.
Also Read: Comparison Between Edward Jones And Northwestern Mutual.
Who Do The Advisors Serve?
Understanding the target clientele for each company may help you determine the right fit:
Fisher Investments caters to individual investors, with the vast majority of their clients being individual households. They require a minimum of $50,000 which makes Fisher a good option for mainstream investors.
Ameriprise serves a broader range of clients including individuals, businesses, retirement plan sponsors, and institutions. Their higher account minimums ($100k to $500k) indicate they may focus more on higher net worth individual investors.
So, Fisher Investments may be better suited for middle-income individual investors. Ameriprise likely offers more robust services for high-net-worth households and small business retirement plans.
Which Advisors Offer Broader Services?
When it comes to the range of financial products and services provided, Ameriprise has the edge over Fisher:
Fisher Investments is an investment-only asset manager, providing portfolio management and financial planning. They do not offer any banking, insurance, or annuity products.
Ameriprise provides investment advice and insurance products as well as banking and lending solutions. Their broader range of services allows clients to consolidate and manage their finances in one place.
So, if you want investment management combined with big picture financial planning, Fisher will meet your core needs. For a full suite of financial products beyond just investing, Ameriprise provides more holistic services.
Watch this video to know more!
Frequently Asked Questions (FAQ)
Fisher Investments can be a good option for investors focused on long-term returns and who want professional management of larger stock portfolios. However, clients should be comfortable with their passive customer service approach.
There is no one-size-fits all best advisor. Fisher Investments is better for self-directed investors prioritizing investment performance over an advisor relationship. Ameriprise is preferable for investors seeking close guidance, customized portfolios and a complete range of financial services.v
Fisher Investments is considered one of the top independent registered investment advisors in the U.S. based on their large amount of assets under management. But there are no definitive rankings.
Fisher’s equity strategies have delivered approximately +10% average annual returns over the past 15 years, outperforming stock benchmarks like the S&P 500. Returns vary across strategies and time periods.
Also Read: Comparison Between Captrust And Fisher Investments.
The Verdict
So, in summary, there are good reasons to consider either Fisher Investments or Ameriprise Financial based on your personal needs and priorities as an investor.
Analyzing their differences in investment approach, fees, account minimums, customer service, and services offered can help you determine which may be the better fit.