Wealth management fees and minimums: what to expect at $1M, $5M and $10M
What advisors charge
Among 84 advisory firms on Sam's List that publish an asset-based fee, the median starting fee is 1.0% of assets per year; the middle half start between 0.5% and 1.0%.
| What you pay for | Typical starting price (median) | Middle half of firms | Firms in sample |
|---|---|---|---|
| Asset-based fee (% of assets per year) — All firms | 1.0% of assets per year | 0.5%–1.0% | 84 |
| One-time flat fee — All firms | $3,000 | $2,000–$5,000 | 94 |
| Hourly rate — All firms | $250/hr | $200–$400 | 34 |
Based on starting prices that firms publish on their Sam's List profiles, as of November 10, 2026. Each firm counted once. Firms listed under more than one type are counted in each. Actual quotes depend on your situation. Fees shown are starting prices firms publish; they are not an offer, and the right fee depends on services and assets.
Short answer: Most wealth managers charge an annual percentage of the assets they manage, and many use a tiered schedule where the rate falls on each additional slice of assets. Many also set a minimum account size or minimum annual fee. Each registered firm lists its fee schedule and minimums in its Form ADV Part 2A brochure (Item 5 for fees, Item 7 for types of clients and minimums), so you can compare real numbers before you call.
How do tiered fee schedules work?
In a tiered (or “breakpoint”) schedule, each slice of assets is charged its own rate. For example, a schedule might charge one rate on the first $1 million and a lower rate on assets above that. Your blended rate is the total dollar fee divided by your total assets. Ask each firm to state the total dollar fee for your assets, and model it over time with the fee calculator.
What is usually included at higher asset levels?
- Investment management and consolidated reporting across accounts
- Financial planning, including retirement income and cash flow
- Tax-aware investing and coordination with your CPA
- Estate and beneficiary coordination with your attorney
- Insurance and risk review
- Charitable giving strategies and, at the high end, family office services
What is included varies by firm; it is listed in Form ADV Part 2A Item 4 (advisory business).
Get matched with a financial advisor
Answer three quick questions. We match you with advisors whose services and minimums fit.
What should you ask about fees and minimums?
- What is my total annual fee in dollars, and is it tiered or a single rate on all assets?
- Is there a minimum account size or a minimum annual fee?
- What costs are on top: fund expenses, platform or custody fees, trading costs?
- Which services are included, and which cost extra?
- Do you earn anything else from my accounts?
Look the firm up on IAPD to read its brochure. See advisors who work with high-net-worth and ultra-high-net-worth clients, or browse wealth management.
Frequently asked questions
How do wealth managers charge?
Most charge an annual percentage of assets under management, often on a tiered schedule. Some charge flat or retainer fees.
What is a tiered or breakpoint fee schedule?
A schedule where each slice of assets is charged its own rate, so the blended rate falls as assets grow.
Do wealth managers have minimums?
Many do, either a minimum account size or a minimum annual fee. Each firm lists them in Form ADV Part 2A.
Where can I find a firm's fee schedule?
In its Form ADV Part 2A brochure on the SEC's Investment Adviser Public Disclosure website, usually under Item 5.
What costs are on top of the advisory fee?
Fund expense ratios, platform or custody fees, and trading costs may apply. Ask for all costs in dollars.
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