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Updated September 18, 2026. Quick answer: Yes, on every account. Fisher Investments is registered with the SEC only as an investment adviser (it is not a broker-dealer), so the Investment Advisers Act of 1940 requires it to act as your fiduciary. Its own Form CRS states: “When we act as your investment adviser, we have to act in your best interest and not put our interest ahead of yours.”
How it’s registered
From Form CRS (Client Relationship Summary) (February 5, 2025): “Fisher Investments (FI) is an investment adviser registered with the US Securities and Exchange Commission.”
The standard of conduct, in its own words
“When we act as your investment adviser, we have to act in your best interest and not put our interest ahead of yours.”
On commissions: “You will also generally pay trading commissions or fees to third-party brokerage firms we utilize to custody and make trades for your account.”
Fiduciary status by capacity
| Capacity | Registration | Standard you’re owed | Can earn commissions | Source |
|---|---|---|---|---|
| As your investment adviser | SEC-registered investment adviser | Fiduciary duty (Investment Advisers Act of 1940) | No (asset-based advisory fee: $7,500 a year, 1.50% on a $500,000 account) | Form CRS (Client Relationship Summary), February 5, 2025 |
What this means for what you pay
Fiduciary status is one input, not the whole picture. Fisher Investments discloses a published fee that runs $7,500 a year on a $500,000 account; see the full dollar breakdown from Fisher Investments’ own fee disclosure before deciding whether the standard of conduct here changes your answer.
If the answer above changes your mind about staying, see what it costs to leave Fisher Investments, or read the general mechanics of switching financial advisors.
Compare your next step
Just comparing fees? Keep reading the fee guide.Optional next step
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Source: WiserAdvisor’s service descriptionSources
- Form CRS (Client Relationship Summary) (February 5, 2025): https://reports.adviserinfo.sec.gov/crs/crs_107342.pdf
- SEC Investment Adviser Public Disclosure, Fisher Investments, Inc. (CRD #107342): https://adviserinfo.sec.gov/firm/summary/107342
- Fisher Investments, Inc., SEC Form ADV filing: https://reports.adviserinfo.sec.gov/reports/ADV/107342/PDF/107342.pdf
Methodology. This page was built September 18, 2026, quoting directly from Fisher Investments’ own current Form CRS, with the source linked above; any distinction we could not independently confirm this session is named as an honest gap rather than presented as verified. Nothing here is personalized financial, tax, legal, or investment advice, and it is not a substitute for reading the firm’s own Form CRS. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.
What does it actually take to open an account? See Fisher Investments’s minimum investment, quoted verbatim from its own Form ADV Part 2A / wrap-fee brochure.
Weighing whether to move ahead? Read the full Fisher Investments review, including its fiduciary status and what it costs to leave.
Comparing Fisher Investments against other options? See Fisher Investments alternatives, including a lower-fee full-service firm, a flat-fee route, and a robo/hybrid.
How does this compare? See how 127 advisory firms are registered, from each firm’s own SEC record.