The state of Michigan and Philadelphia Board of Pensions have severed their ties to the embattled money manager. : (Bloomberg) -- Billionaire money manager Ken Fisher is facing more pressure from clients following offensive remarks he made at an industry conference. Fidelity Investments and the state of Florida pension fund said Tuesday they’re examining their relationship with Fisher Investments. The Philadelphia Board of Pensions said it plans to divest the $54 million in assets held with the firm. “We are very concerned about the highly inappropriate comments by Kenneth Fisher,” a Fidelity spokesman said in a statement.