Famed Annuity Hater Ken Fisher Invested Millions in Annuities
September 17, 2019 by Contributor
Ken Fisher is the founder and executive chairman of Fisher Investments, but you probably know him best for showering hatred upon annuities. It’s one of his most definable characteristics. He was recently quoted in an advertisement saying, “I would die and go to hell before I would sell an annuity,” and there are ads with his face on them that say, “I hate annuities and you should too.”
Nonetheless, that didn’t stop Fisher’s company from investing in insurance companies with large annuity businesses.
Fisher’s company, Fisher Asset Management (FAM), is one of the largest financial advice firms in the United States. And at one point held millions of shares in American Equity Investment Life Holding Co., one of the biggest sellers of indexed annuities. The company also held a large stake in Prudential, who has been the top annuities seller for years.
According to filings with the Securities and Exchange Commission, Fisher Asset Management invested in these companies between 2013 and 2015.