Fisher Investments has moved its headquarters to Plano after a capital gains tax passed in the Washington state supreme court.
After Washington State’s supreme court upheld an increased capital gains tax to fund public schools, Fisher Investments has moved its company headquarters to its Plano office.
“In honor of the Washington State Supreme Court’s wisdom and knowledge of the law, and in recognition of whatever it may do next, Fisher Investments is immediately moving its headquarters from Washington State to Texas,” the investment firm announced in a one-paragraph press release.
Founder and investing “guru” Ken Fisher had already moved to the Dallas area before the announcement, and CEO Damian Ornani has changed his social media to reflect Plano as his residence.
The Plano office opened in 2017, and will now serve as the headquarters for the company. Those residing in the former headquarters in Washington will not be required to relocate. Instead, Fisher Investments will be shifting its hiring to Plano and the surrounding area.
“As we continue to expand our scope, Fisher Investments looks for areas well-positioned to benefit from our investment management services,” the website said. “Plano, Texas was a natural fit, making it easier for us to service clients across the Midwest and South.”
Fisher Investments is an independent, fee-only investment advisor. Its subsidiaries manage more than $197 billion in assets throughout the world, the majority of which are private investors.
Some have argued that Fisher’s move is more about political values than taxes, citing Fisher’s past affiliations. Fisher’s face also hit the newsstands after losing investors in 2019 when he made sexist comments during an investment conference in San Francisco. While he first defended his comments, after old tweets with other sexual and racist jokes resurfaced, the company lost billions in assets and he made a formal apology. Fisher and his wife are known as major Republican donors.
The headquarters are located at 6500 International Parkway near Dallas North Tollway and President George Bush Turnpike.
FAQs
CAMAS, Wash. — Fisher Investment is relocating its headquarters from Camas to Texas after the Washington State Supreme Court ruled Friday that a capital gains tax is constitutional.
Will Fisher Investments headquarters move to Plano will add jobs in North Texas? ›
No employees will be forced to relocate, company spokesperson Naj Srinivas said in an email. He said the company expects to add jobs in the Dallas area, but will do so over time rather than instantaneously. Fisher Investments and its subsidiaries manage over $197 billion in assets globally, according to the firm.
What are the allegations against Fisher Investments? ›
The billionaire CEO of Fisher Investments spoke at a conference in San Francisco, where he made sexist comments. Fisher eventually apologized, yet it isn't the first time the money manager has used this type of language while speaking in public.
What is the problem with Fisher Investments? ›
Fisher Investments is a fee-only advisor, meaning it only makes money based on the value of your assets. Other money managers may earn both fees and commissions from investment products they place in your portfolio, which may create a misalignment of incentives.
Why is Fisher moving to Texas? ›
Fisher Investments is relocating its headquarters from Washington state to Texas in the wake of a court ruling that paves the way for a capital gains tax in Washington. The wealth and investment management firm announced Friday it was moving to Texas, where it already has an office in Plano, a suburb of Dallas.
Why is Fisher Investments moving to Texas? ›
In a one-paragraph announcement Friday, Fisher Investments said it will relocate its corporate headquarters to Texas following a state supreme court ruling in Washington that upheld the constitutionality of a tax on its wealthiest residents.
Is Fisher Investments a good place to put your money? ›
If you have a high net worth and want a custom, actively managed portfolio, Fisher Investments may be a good choice. The fees are similar to working with many financial advisors and you'll be able to handle most of your financial needs in one place.
How much money do you have to have for Fisher Investments? ›
What is the Minimum to Become a Client? Fisher Investments' Private Client Group focuses on high net worth individuals with investable assets of $500,000 or more.
Who is behind Fisher Investments? ›
Ken Fisher founded Fisher Investments in 1979, which is now a $265 billion1 investment adviser and money management firm serving large institutions, high net worth individuals and small business retirement plans globally. By most standards, it is the world's largest pure '40 Act Investment Adviser.
Who is Fisher Investments biggest competitor? ›
Fisher Investments main competitors are Cambridge Associates, Highland Capital Management, and Bridgewater Associates.
Fisher Investments focuses primarily on financial advice services and portfolio management. Meanwhile, Fidelity is the better option if you want to save for your child's future or open a specific savings account type, such as a health savings account or CD.
Why did Fidelity drop Fisher Investments? ›
Fisher Investments Performance Record - Why did Fidelity drop Fisher Investments? Money manager Ken Fisher was allegedly associated with Fidelity Investments when the firm started to reevaluate its relationship with him due to his sexist remarks.
Can I trust Fisher Investments? ›
Fisher Investments can be a good choice for those who have already built considerable wealth and now want a professional to take over running their portfolio.
Is Fisher Investments being bought out? ›
Fisher Investments is not for sale and is not being purchased by anyone. PLANO, Texas, Jan. 2, 2024 /PRNewswire/ -- Yesterday, The Wall Street Journal posted a false story claiming Fisher Investments was being purchased by a private equity company, Advent International.
Is Fisher Investments a true fiduciary? ›
By operating as a registered investment adviser, Fisher Investments holds itself to the fiduciary standard because of the clear signal it sends to our clients.
Why is Fisher Investments leaving Washington State? ›
Fisher Investments pulls out of Washington in wake of capital gains tax decision. A wealth-management company says it's pulling its headquarters out of Washington state in the wake of the state's Supreme Court decision around capital gains taxes.
Where are Fisher Investments moving? ›
The firm announced its headquarters move with one sentence late Friday, saying, "In honor of the Washington State Supreme Court's wisdom and knowledge of the law, and in recognition of whatever it may do next, Fisher Investments is immediately moving its headquarters from Washington State to Texas."
Where is Fisher Investments moving their headquarters? ›
Fisher Investments announced the multibillion-dollar money management firm would be relocating is headquarters from Camas to a suburb of Dallas, but it remains unclear what — if any — impact the change will have on its local operations.
