Fisher Investments, a registered investment advisor with $275 billion in assets under management, recently announced plans to sell a minority stake in the firm. As part of this move, the company will spin off its Fisher 401(k) Solutions business into a new, independent entity called Fisher Retirement Solutions. Nathan Fisher, son of founder Ken Fisher and senior executive vice president of 401(k) solutions, will lead the new company as CEO. With $4.75 billion in assets under management and over 100 employees, the 401(k) business has established itself as a key player in the market.
Established in 2014, Fisher’s 401(k) Solutions business has focused on serving small- and mid-sized retirement plans that are often underserved in the industry. The company currently manages over 1,600 small and medium-sized plans, providing expertise and services to help clients achieve their financial goals. Nathan Fisher, who joined the firm in 2005, has played a key role in its growth and success over the years.
Last week, Fisher Investments announced a deal to sell a minority stake to Advent International and a subsidiary of the Abu Dhabi Investment Authority. This move is part of Ken Fisher’s estate planning strategy and will allow the firm to continue operating independently. The valuation of $12.75 billion has garnered attention in the wealth management industry, with some experts seeing it as a fair price for a firm of Fisher’s caliber.
Despite the changes and new partnerships, both Fisher Investments and Fisher Retirement Solutions are expected to maintain a cooperative and friendly relationship as independent entities. The success of the 401(k) business and the overall growth of Fisher Investments highlight the firm’s commitment to excellence in managing investments and providing top-notch financial services to its clients.