Not All Things to All People

Ever direct and to the point, Ken Fisher is certainly interested in acquiring other RIA firms, but the fit has to be right from his viewpoint of having the right business model and type of high-net-worth client that his direct marketing efforts don't reach. But the fit has to be right from the seller's perspective. "If somebody wants to sell their business but wants to keep their name on the door and remain a viable part of the community," he stresses, "then we don't fit that well. A bunch of the buyers are in the mode of 'We'll buy you but we'll be hands off.' We're in the mode of 'We'll buy you and we'll consolidate everything into our existing platforms." Your name and structure will go away, and what will remain will be the clients' and their assets."