Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:An Outspoken RIA Billionaire Prepares to Step Down Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, April 16, 2015

An Outspoken RIA Billionaire Prepares to Step Down

News summary by MFWire's editors

An outspoken, billionaire RIA chief (one who also PMs two mutual funds and also subadvises) is preparing to step down as CEO of his eponymous firm.

Trevor Hunnicutt of InvestmentNews reports that, according to a Fisher Investments [profile] spokesman, founder Ken Fisher will hand in his CEO hat by the end of 2016. The spokesman clarifies that Fisher, now 64, has "openly stated" for years that he plans to step down in the year after he turns 65. His 65th birthday will be November 29, 2015.

After InvestmentNews published its story, Fisher Investments put out a statement clarifying that Fisher will stay on as chairman and co-chief investment officer once he steps down as CEO. (There's no perhaps about it.)

A company spokesman confirms to MFWire that Fisher has been talking about the shift "for a long time" with both clients and employees.

Fisher is one of the PMs on Fidelity's three-star, $7.2-billion, subadvised Strategic Advisers Small-Mid Cap Fund. (Fisher Investments is one of 10 subadvisors on the fund, including Fidelity's own Pyramis.) Fisher is also a PM on his firm's own two mutual funds: the two-star, $309.9-million Purisima Total Return Fund; and the two-star, $47,061 Purisima All-Purpose Fund. All told, InvestmentNews reports, Fisher's firm now manages $60 billion in assets.

Fisher himself is a long-time Forbes columnist, and the magazine estimates his net worth at $2.9 billion, making Fisher the 663rd richest person in the world and the 236th richest American. The firm he founded in 1979 is based in Camas, Washington, outside Portland, Oregon.

How did Fisher rise so far? InvestmentNews says he "built one of the largest independent advisory firms in the country on the back of unsolicited mailings, magazine columns and a constant stream of books." The trade publication further describes Fisher as "an often unfiltered public presence," one who speaks out against many financial services industry ideas he doesn't favor, like "wealth management" as a concept, or the "New Normal" idea promoted by Pimco (and its then-star PM Bill Gross). 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2025: Q3Q2Q1
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


    Sorry, no records in the database matched your search parameters. Clich back and try again.



  1. MFDF Director Discussion Series - Open Forum, July 9
  2. MFDF webinar - Mid-Year Tax Update for Registered Investment Companies, July 10
  3. MFDF Director Discussion Series - Open Forum (Philadelphia), July 15
  4. 2025 MMI Women in Advisory Solutions Forum, Jul 15-16
  5. Nicsa webinar - How Trusted GenAI is Transforming Data Access in Asset Management, July 16
  6. MFDF webinar - M&A and Consolidation in Asset Management, July 16
  7. MFDF webinar - ETF Conversions, July 17
  8. MFDF Director Discussion Series - Open Forum (New York), July 22
  9. MFDF Ask Anything webinar - AI Edition, July 24
  10. MFDF webinar - Use of Derivatives by RICs, July 29
  11. MFDF Director Discussion Series - Open Forum (Columbus, Ohio), August 20
  12. Samfund Soiree Boston 2025, August 21
  13. MFDF webinar - The Audit Committee Chair's Guide to Balancing Duties and Emerging Issues, September 3
  14. ICI ETF Conference, Sep 8-10
  15. Nicsa webinar - Reimagining Reconciliation: AI, Regulation, and Capital Markets Transformation, September 10
  16. MFDF webinar - Series Trust Funds - Compliance and Board Reporting, September 10
  17. MFDF In Focus - Board Oversight of DEI in Current Landscape, September 11
  18. MFDF webinar - MFDF 15(c) White Paper Webinar Series: Part 4 – Enforcement Action Takeaways, September 16
  19. MFDF webinar - Latest in Closed-End Funds Litigations, September 23
  20. MFDF webinar - Fixed Income Insights: Navigating Market Trends & Opportunities, September 24
  21. MFDF webinar - Risk Management Essentials for RICs and Boards, September 29
  22. MFDF webinar - Diligent - Tools for Fund Board Book, October 1
  23. 10th annual Fuse Forum, October 8
  24. MFDF webinar - Essential Strategies in Board Oversight of Operational Risk Management, October 14
  25. 2025 MMI Annual Conference, Oct 15-17
  26. MFDF webinar - Series Trust Funds - Effective Board Relationships with Advisers, October 15




©All rights reserved to InvestmentWires, Inc. 1997-2025
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use