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Updated September 17, 2026. Quick answer: Northwestern Mutual discloses a maximum, individually negotiated rate of 1.65% in its Northwestern Mutual Wealth Management Company Private Client Services Disclosure Brochure (September 2026). Converted to dollars, that runs $8,250 a year on a $500,000 account; see the full table below for $250,000, $1 million and $2 million.
Northwestern Mutual fee schedule 2026 (published maximum)
This schedule comes from the Northwestern Mutual Wealth Management Company Private Client Services Disclosure Brochure, dated September 2026, the same filing cited under Sources below.
From the Northwestern Mutual Wealth Management Company Private Client Services Disclosure Brochure (September 2026): “NMWMC generally charges an annual Net Advisory Fee of no more than 1.65% on assets in a Private Client Services account. The corresponding annual Gross Advisory Fee is no more than 1.76% before the application of the 0.11% fee offset for proprietary investment management fees discussed below.”
The published ceiling: 1.65% per year, maximum.
What you would pay
| Account balance | Annual fee (dollars) | Effective rate |
|---|---|---|
| $250,000 | $4,125 | 1.65% |
| $500,000 | $8,250 | 1.65% |
| $1,000,000 | $16,500 | 1.65% |
| $2,000,000 | $33,000 | 1.65% |
Northwestern Mutual does not publish a public dollar-breakpoint schedule; the tiers on your account are negotiated with your advisor and recorded in a private Statement of Investment Selection. The figures above apply the disclosed 1.65% ceiling as a flat rate; your advisor may offer a lower custom schedule. The Northwestern Mutual brochure states a recommended minimum investment of $2,000,000 for a Private Client Services account, and states no waiver of it, so the $250,000, $500,000 and $1,000,000 rows above apply the disclosed 1.65% ceiling to balances below that minimum.
How this compares
Our benchmark of published adviser fee schedules puts the weighted median annual cost near $2,000 to $2,500 on $250,000 (the benchmark). At $500,000, Northwestern Mutual’s own published rate runs $8,250 a year.
Thinking about leaving Northwestern Mutual instead of pricing what you would pay to stay? See what it costs to leave, or read the general mechanics of switching financial advisors.
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Source: WiserAdvisor’s service descriptionSources
- Northwestern Mutual Wealth Management Company Private Client Services Disclosure Brochure (September 2026): https://www.northwesternmutual.com/assets/pdf/brochures/private-client-services-disclosure.pdf
- Northwestern Mutual Wealth Management Company is a limited purpose federal savings bank, stated on page 1 of its own brochure linked above, and it does not appear in the SEC Investment Adviser Public Disclosure database, so it files no Form ADV. The affiliated SEC-registered broker-dealer and investment adviser is a separate company, Northwestern Mutual Investment Services, LLC (CRD #2881), checked September 19, 2026: https://adviserinfo.sec.gov/firm/summary/2881
Methodology. This page was built September 17, 2026, drawing on Northwestern Mutual Wealth Management Company’s own published disclosure brochure and, where cited, its published fee schedule, with sources linked above; any figure we could not independently confirm this session is named as an honest gap rather than presented as verified. Nothing here is personalized financial, tax, legal, or investment advice. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.
Is Northwestern Mutual a fiduciary? See what its own Form CRS says, and how that compares to what you would pay.
What does it take to open an account? See Northwestern Mutual’s minimum investment, straight from its own Form ADV Part 2A brochure.
See how Northwestern Mutual compares directly, dollar for dollar: vs Fidelity.
See how Northwestern Mutual compares directly, dollar for dollar: vs Thrivent.
Weighing whether to move ahead? Read the full Northwestern Mutual review, including its fiduciary status and what it costs to leave.
See how Northwestern Mutual compares directly, dollar for dollar: vs SoFi Invest, vs Lincoln Financial Advisors, vs Mercer Advisors.
See how Northwestern Mutual compares directly, dollar for dollar: vs LPL Financial, vs Vanguard Personal Advisor.
Comparing Northwestern Mutual against other options? See Northwestern Mutual alternatives, including a lower-fee full-service firm, a flat-fee route, and a robo/hybrid.
See how Northwestern Mutual compares directly, dollar for dollar: vs Raymond James, vs Voya Financial Advisors.
See how Northwestern Mutual compares directly, dollar for dollar: vs Betterment Premium.
How does this compare? See the annual fee on $500,000 at 165 advisory firms, each from the firm’s own filing.
Comparing what other firms charge? Raymond James Fees (2026): What You Pay in Dollars at $250k, $500k, $1M lays out that firm’s published fee schedule in dollars.
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Comparing what other firms charge? Raymond James vs SoFi Invest Fees: What Each Costs in Dollars at $250k, $500k, $1M lays out that firm’s published fee schedule in dollars.
Comparing what other firms charge? Raymond James vs Vanguard Personal Advisor Fees: What Each Costs in Dollars at $250k, $500k, $1M lays out that firm’s published fee schedule in dollars.
Comparing what other firms charge? RBC Wealth Management Fees (2026): What You Pay in Dollars at $250k, $500k, $1M lays out that firm’s published fee schedule in dollars.
Comparing what other firms charge? Savant Wealth Management Fees (2026): What You Pay in Dollars at $250k, $500k, $1M lays out that firm’s published fee schedule in dollars.