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CEOs violated rules at a secret summit to expose the fierce remarks of a billionaire

Mr. Ken Fisher, who calls himself a “self-made multibillionaire,” shared his philosophy of industry during a fireside chat on the second day of elite conferences for wealth management CEOs in San Francisco at the Ritz-Carlton Hotel. Fisher had been honored previously at the Tiburon CEO Summit. He has written 11 books and writes financial columns in newspapers regularly. He has a net worth of US$ 3.7 billion. The conversation between Ken Fisher and Charles (“Chip”) Roame, Tiburon’s Managing Partner, on the main stage was a keynote event. The event was open to 220 participants and had no competing panels.

Fisher used rude and inappropriate comments in the spotlight, including a comparison of his wealth management strategy with the choice of women to make love. Roame, who was in charge of the discussion, did not intercede or asked Fisher to stop. In the audience, the attendees privately discussed their common frustration of behavior patterns. However, this boycott was not made public until a few hours later. Since the privacy policy within the summit was designed to limit the information shared by leaders of the industries to those who only pay $25,000 to attend. Among all attendees, three refused to keep quiet. They deliberately violated the conduct code of summit to expose Fisher’s actions in order to bring reform into the wealth management community. This eventually forced Roame to resolve the matter publicly, and Fisher apologized.

In the few days after the summit, Roame condemned Fisher’s speech in a lengthy statement. He also vowed not to invite the powerful billionaire back to the Tiburon CEO summit. Other wealth managers and financial advisors came forward on social media. They also claimed that they had heard the same discourteous comments in earlier industry summits. Fisher expressed sympathy and apologized on Thursday by saying that there are certain words and phrases which he shouldn’t have used at the most recent meeting to express certain opinions. He added that it is obviously wrong. He also realized that this language has no place in the company or industry.