Ken Fisher, founder and executive chairman of Fisher Investments, has been an ardent critic of annuities for years.
In fact, Mr. Fisher’s vitriol toward annuities is probably one of his most identifiable characteristics in the public sphere. Print ads with Mr. Fisher’s face blare, “I HATE Annuities. And you should too.” More recently, in a video ad for Fisher Investments, he says, “I would die and go to hell before I would sell an annuity.”
However, Mr. Fisher’s company, among the largest financial advice firms in the country, was simultaneously investing in insurance companies with significant annuity business. And some of the stakes were quite large.