Thursday 18 July 2019

US giant Fisher to enter Irish market

US financial services giant Fisher Investments plans to service Irish investors as well as European clients from its Dublin office, where it will near double employee numbers to 30 by the end of this year. Stock image
US financial services giant Fisher Investments plans to service Irish investors as well as European clients from its Dublin office, where it will near double employee numbers to 30 by the end of this year. Stock image
Donal O'Donovan

Donal O'Donovan

US financial services giant Fisher Investments plans to service Irish investors as well as European clients from its Dublin office, where it will near double employee numbers to 30 by the end of this year.

The US firm, which has had operations in the UK since 2000, secured Irish regulatory approval in January and it has an office in the Dublin docklands with 16 staff.

Irish authorisation is expected to facilitate passporting of services into Italy and Spain, as well as here.

Fisher Investments is headed by US investment veteran Ken Fisher, a regular columnist with the 'Financial Times' and 'USA Today' among others. The firm manages more than $107bn in assets for more than 55,000 private clients and 175 institutions.

Executive chairman and co-chief investment officer Fisher said his plan is to diversify regulatory authorisation, having historically passported services to the EU through London.

The regulatory environment is becoming less stable, including but not only as a result of Brexit, he said.

To counter that he plans to maintain authorisation in Ireland, Luxembourg, Germany and the UK in future to serve European markets, he said

Unusually for a large financial services firm in the IFSC, Mr Fisher said it plans to look to sell services into the Irish market in the coming year - offering financial advice to retail investors.

The Fisher Investments model is based on advising individual clients on investment options without creating or selling its own investment products, in contrast to firms that create and sell investment products.

"We provide unconflicted advice," Mr Fisher said.

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