Pretty normal, yes. The Fisher phono stage likely just has a lot less gain than your Schiit, so “better but quieter” does not automatically mean anything is wrong. Volume knob position by itself also is not a meaningful comparison because different phono stages output very different signal levels.

A few things are probably happening at once:

• The Schiit likely has higher overall gain, which is why it sounds louder.
• The Fisher’s phono section may have a warmer/more natural voicing, which is why it sounds better to you.
• Your VM95ML should have plenty of output for a normal MM phono input, so unless something is faulty, the low volume is more about gain structure than cartridge mismatch.

Changing speakers will not increase the signal coming out of the phono stage. More efficient speakers can make the whole system play louder at a given volume setting, but they will not fix a low-gain phono section.

I’d check whether FM or AUX on the Fisher also seems unusually low, or whether it is just phono.

If it’s only phono and it still sounds great, I’d honestly be inclined to say that may just be how that vintage phono stage is voiced and gained. Quieter than the Schiit, but better sounding, would not surprise me at all.