Recruitment market much tougher post-RDR, says Fisher’s Standish

‘This cuts out the third party costs and helps keep our charges more competitive. Equally important is that it enables us to maintain a tight control of the service proposition we offer clients. We prefer to maintain contact with the end user.’

Fisher, which was set up by its eponymous chief executive and chief investment officer Ken Fisher in 1979, manages bespoke portfolios of global equities for clients, typically targeting 2% to 4% outperformance of the MSCI World index.

The investment management is run out of the US. Asset allocation is determined by the group’s three-strong investment committee, which is led by Ken Fisher, and supported by a team of more than 50 in-house analysts.

Standish said the recent stock market rally has been a mixed blessing in terms of attracting new business. While improving investor sentiment is clearly good news for a global equity manager, improving returns can lead to inertia.

‘A lot of people in cash and bonds are likely to move into equities, which definitely helps us and justifies us taking on new people,’ he said.

‘But on the other hand, people with underperforming portfolios will have seen them going up and think they are starting to move in the right direction so they will give the manager another six to 12 months. It is an interesting situation.’