Fisher Investments plans to move its headquarters to Texas from Camas, Washington, the firm said in a one-sentence statement released late Friday that linked the move to the Washington State Supreme Court.
“In honor of the Washington State Supreme Court's wisdom and knowledge of the law, and in recognition of whatever it may do next, Fisher Investments is immediately moving its headquarters from Washington State to Texas,” the statement read.
Fisher Investment's announcement followed a ruling Friday by the Washington State Supreme Court allowing the state to move forward with a capital gains tax. The legislature enacted a 7% capital gains tax in 2021, but opponents had argued that it was unconstitutional, which postponed its implementation.
The press release didn’t specify a location in Texas, but the firm already has a corporate office in Plano.
Fisher, the second-largest U.S. registered investment advisor, manages more than $197 billion in assets.
The move to charge data aggregators fees totaling hundreds of millions of dollars threatens to upend business models across the industry.
The latest snapshot report reveals large firms overwhelmingly account for branches and registrants as trend of net exits from FINRA continues.
Siding with the primary contact in a marriage might make sense at first, but having both parties' interests at heart could open a better way forward.
With more than $13 billion in assets, American Portfolios Advisors closed last October.
Robert D. Kendall brings decades of experience, including roles at DWS Americas and a former investment unit within Morgan Stanley, as he steps into a global leadership position.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
