Wealth manager, independent · Plano, TX
Fisher Investments
Fisher Asset Management, LLC · SEC-registered investment adviser · CRD 107342 · SEC 801-29362
At a glance
Fisher Investments is an SEC-registered investment adviser based in Plano, Texas, with $387B in regulatory assets under management as of its Form ADV filed April 2, 2026. It reports 199,061 individual clients, 125,844 of them high-net-worth, holding an average of about $1.7 million each, and 4,369 employees. That ranks it 1st among the nation’s 5,657 independent wealth management RIAs and 1st of 367 in Texas. It reports 2 custodians for its clients’ separately managed accounts: Charles Schwab and Fidelity.
Main office 800-851-8845fisherinvestments.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $387B
- Rank among independent wealth managers
- #1 of 5,657
- Rank among all SEC RIAs
- #67 of 17,210
- Rank in Texas
- #1 of 367
- Individual clients
- 199,061
- High-net-worth clients
- 125,844
- Accounts
- 422,516
- Discretionary
- 100% of AUM
- Employees
- 4,369
- Advisory staff
- 1,948
- Offices
- 12
Owners and executives on its Form ADV
- Kenneth L. FisherExecutive Chairman, Chairman Board of Managers, Co-Chief Investment Officer, Investment Policy Committee
- Damian D. OrnaniChief Executive Officer, Board of Managers
- Thomas C. FishelChief Compliance Officer
- David M. MussaferBoard of Managers
Custody and brokerage
Broker-dealer
No broker-dealer ties
Fisher Investments reports no employees registered with a broker-dealer and no affiliated broker-dealer.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 125,844 | $283B | 73% |
| Individuals | 73,217 | $48B | 12% |
| State or municipal government entities | 20 | $24B | 6% |
| Pooled investment vehicles | 46 | $7.4B | 2% |
| Pension and profit sharing plans | 73 | $6.5B | 2% |
| Sovereign wealth funds and foreign official institutions | 3 | $5.8B | 1% |
| Other investment advisers | 11 | $5.2B | 1% |
| Charitable organizations | 25 | $4.1B | 1% |
| Corporations or other businesses | 672 | $1.3B | <1% |
| Insurance companies | 4 | $891M | <1% |
| Investment companies | 3 | $250M | <1% |
| Other | 4 | $79M | <1% |
Private funds
Fisher Investments reports 4 private funds with $301M in gross assets: other private funds (Form ADV Item 7.B).
Disciplinary disclosures
Fisher Investments reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Financial planning
- Portfolio management for individuals and small businesses
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses and institutions
- Other services
How it’s paid
- A percentage of assets under management
- Performance-based fees
Form ADV and brochures on the SEC’s adviser search ↗fisherinvestments.com ↗Fisher Investments news and profile →
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- Assets, accounts, clients and staff, ten years of filings
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- Rank against 31 peers of its type and size
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- 4 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
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Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Similar-size RIAs in Texas
All of Texas →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Kestra Advisory Services, LLCAustin | $80B | 115,285 |
| United Capital Financial AdvisorsIrving | $25B | 24,837 |
| Kestra Private Wealth Services, LLCAustin | $13B | 19,977 |
| Hub Investment Partners, LLCAustin | $12B | 5,446 |
| Americana Partners, LLCHouston | $9.1B | 1,627 |
| Sendero Wealth Management, LLCSAN Antonio | $6.5B | 331 |
Compare Fisher Investments with
- Fisher Investments vs Vanguard Advisers, Inc. $345B · Malvern, PA
- Fisher Investments vs Edelman Financial Engines $326B · Santa Clara, CA
- Fisher Investments vs Kestra Advisory Services, LLC $80B · Austin, TX
Background
Questions
How much does Fisher Investments manage?
Fisher Investments reports $387B in regulatory assets under management across 422,516 accounts, 100% of it on a discretionary basis, on its Form ADV filed April 2, 2026.
How many clients does Fisher Investments have?
It reports 199,061 individual clients: 125,844 high-net-worth individuals and 73,217 other individuals. Individuals account for about 86% of its regulatory assets.
Where is Fisher Investments headquartered?
Its main office is in Plano, Texas. It reports 12 offices in total and 4,369 employees, 1,948 of whom perform investment advisory functions.
How does Fisher Investments charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; performance-based fees. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does Fisher Investments use?
It reports 2 custodians for its clients’ separately managed accounts: Charles Schwab and Fidelity. On Schedule D of its Form ADV filed April 2, 2026, it reports these amounts held: Charles Schwab ($85B); Fidelity ($74B). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Fisher Investments a hybrid RIA with a broker-dealer?
Fisher Investments reports no employees registered with a broker-dealer and no affiliated broker-dealer.
Is Fisher Investments a fiduciary?
As an SEC-registered investment adviser, Fisher Investments owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. It reports no employees who are registered representatives of a broker-dealer.
Where these numbers come from
Every figure is Fisher Investments’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-04-02), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Its national rank compares it with every US-based independent wealth management RIA, the same field as The Largest RIAs. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →