Fisher Investments, a $275 billion registered investment advisor, recently announced plans to sell a minority stake in the firm. As part of this move, the Fisher 401(k) Solutions business will be spun out into a new independent company called Fisher Retirement Solutions.
Fisher Investments established its 401(k) Solutions business in 2014 with the aim of focusing on small- and mid-sized retirement plan market. Currently managed by Nathan Fisher, who is currently the senior executive vice president of 401(k) solutions and Ken Fisher’s son, the business serves over 1,600 small and medium-sized plans with over 100 employees including advisors. The two companies, Fisher Investments and Fisher Retirement Solutions, will continue to work together collaboratively.
In addition to the spinoff of the 401(k) business, Fisher Investments also recently announced that it has sold a minority stake in the firm to Advent International and Abu Dhabi Investment Authority subsidiary for $12.75 billion. This deal is part of Ken Fisher’s estate planning and will allow Fisher Investments to maintain its independence while providing additional resources for growth and expansion. According to investment bankers in the industry, this valuation is fair given the size, scale, and organic growth rate of Fisher Investments.
Nathan Fisher has been working at Fisher Investments since 2005 and holds degrees from University of California Davis and University of California Los Angeles. With experience in various departments under his belt he is well suited to lead this new venture.
Overall this move by fisher investments represents an opportunity for growth and expansion while maintaining independence through strategic partnerships.
