Ask Terry Questions Fisher Investments vs Wealthramp

Fisher Investments vs Wealthramp

By Terry Savage on April 22, 2024 | Financial Planning / Retirement

Hi Terry, Years ago I got an autographed copy of The Savage Truth through KABC Radio in Los Angeles. Recently moved to Illinois and am it’s great to hear you on WGN. I took your advise and contacted Wealthramp to find a fee only fiduciary. My spouse, on the other hand, had made an appointment to meet with an advisor from Fisher Investments and we had a zoom meeting with a local advisor who was helpful and plans to go over some numbers with us. I’m not so sure if the .6% fee associated with their service is the best course for us. My spouse and I will turn 69 later this year and have about 1.3 m with Vanguard at the present time. Would we be better off talking to a Wealthramp advisor on an hourly rate and avoid the fees associated with Fisher? Thank you, Joe

Terry Says

I ALWAYS recommend going through Wealthramp, because of set hourly fees. Once your financial plan is set, and it see4ms like you know how to invest wisely with Vanguard, why pay additional fees for money management — even just a slight 0.6% fee.

This is not to diss Fisher, since they advertise themselves as fee-only (non-commission investment advisors). But their website offers “access” to other planning areas — and I’m surre that adds to the costs.

So ask yourself what advice you are seeking. Is it an entire and overall financial plan, taxes, insurance, estate planning advice (legal documents always cost extra). Then ask about specific fees for each of these services. I’m not sure how Fisher charges for each of the services.

Just make sure you’re comparing apples to apples. It can’t hurt to have both meetings — BUT then carefully compare the costs and offerings.

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