The $159 billion-AUM Camas, Washington RIA allegedly made thousands of calls to prospective clients using an automatic telephone dialing system in violation of the Telephone Consumer Protection Act.
“A lot of observers would wonder, ‘Did they really have much choice to appear in the ad?’”
Billionaire Ken Fisher made his name and fortune picking stocks. But over the years he’s also become a huge player in an arcane — and controversial — corner of Wall Street: exchange-traded notes.
The hard-selling was relentless, even infuriating, prospective customers said. Marketers called homes, spammed work email and impersonated friends, colleagues and government officials.
The state pension fund of Texas is pulling $350 million from Fisher Investments as more investors flee the firm following vulgar comments from its founder.
New Hampshire’s state pension pulled its $239 million invested with Ken Fisher, bringing the total amount divested from the billionaire’s firm to more than $2 billion.
The cold calls go out, hundreds a day, from a dank basement in the redwood hills south of San Francisco.
Top stories from around the web.
Billionaire Ken Fisher is starting to encounter a backlash after he made offensive remarks at a conference in San Francisco this week.
Tiburon Strategic Advisors founder Chip Roame says “offensive” comments by billionaire advisor exacerbate the wealth industry’s attempts to be more inclusive.