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Updated September 18, 2026. Quick answer: Wells Fargo Advisors is registered with the SEC as both a broker-dealer and an investment adviser. Per its own current fee brochure, a $500,000 account would run up to $10,000 a year (the published maximum, which the firm says is negotiable) under its published fee schedule; the minimum to open an account is $10,000 to $250,000 for Personalized UMA Program, depending on strategy. Already a client and thinking about leaving? Budget $125 per transfer. Is it a fiduciary? Yes, when it is acting as your investment adviser; when the same representative acts as your broker-dealer instead, the applicable standard is best-interest, not fiduciary, and its own Form CRS states representatives can earn commissions in that capacity.
Wells Fargo Advisors at a glance
| Fact | What Wells Fargo Advisors’ own pages say |
|---|---|
| Legal entity | Wells Fargo Clearing Services, LLC |
| Registration | We are dually registered with the Securities and Exchange Commission as a broker-dealer and investment adviser and can serve in either capacity when helping you invest. |
| Fee on a $500,000 account | Up to $10,000 a year (the published maximum, which the firm says is negotiable), per its own current brochure |
| Minimum to open an account | $10,000 to $250,000 for Personalized UMA Program, depending on strategy |
| Cost to leave (exit fee) | $125 per transfer |
What Wells Fargo Advisors’ own fee schedule charges
“The Advisory Fee for the Personalized UMA Program, which is negotiable, is shown below. Advisory Fee (annualized, calculated on your Account Value): 2.00%.”
Wells Fargo Advisors does not publish a dollar-tiered breakpoint table for the Personalized UMA Program (or for its three sibling programs in the same brochure, FundSource, Private Advisor Network, and Customized Portfolios, which each disclose the identical flat 2.00% standard rate); it publishes a single standard, negotiable rate. The figures above apply that 2.00% as a flat rate; your negotiated rate may be lower. A separate third-party Manager Fee (roughly 0.00% to 0.50%, manager-specific) can apply on top if you select a discretionary manager strategy.
| Account balance | Annual fee |
|---|---|
| $250,000 | $5,000 |
| $500,000 | $10,000 |
| $1,000,000 | $20,000 |
| $2,000,000 | $40,000 |
See the full breakdown, including how the figure is calculated, on Wells Fargo Advisors’ own fee page.
Is Wells Fargo Advisors a fiduciary?
We are dually registered with the Securities and Exchange Commission as a broker-dealer and investment adviser and can serve in either capacity when helping you invest.
“When we provide you with a recommendation as your broker-dealer or act as your investment adviser, we must act in your best interest and not put our interest ahead of yours.”
In a brokerage relationship, you are charged for each trade you make, also known as transaction-based charges. These transaction-based charges can include commissions, commission equivalents, sales charges, mark-ups, mark-downs, and dealer spreads, which differ based on the product purchased, size of the transaction, overall value of your account, and frequency of trading activity in your account.
Full detail, including the exact registration type and source: Wells Fargo Advisors’ fiduciary status, explained.
The minimum to open an account
“The minimum initial Account values for the Programs described in this document are listed below. … Custom Blend $10,000 subject to investment minimum … Optimal Blend $200,000 or portfolio minimum … Conservative Growth & Income $250,000”
$10,000 to $250,000 for Personalized UMA Program, depending on strategy. See the full minimum-investment breakdown, including what that minimum would cost per year, on Wells Fargo Advisors’ minimum investment page.
What it costs to leave
Wells Fargo Advisors prices an outgoing transfer at $125 per transfer; the same schedule warns the charge appears on statements as “Termination Fee,” not “transfer fee.”
Full mechanics, sources, and the ACATS transfer process: how to leave Wells Fargo Advisors.
What we would compare it against
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Source: WiserAdvisor’s service descriptionSources
- Wells Fargo Advisors Wrap Fee Brochure (Personalized Unified Managed Account Program), Form ADV Part 2A Appendix 1 (September 2025 (Rev 76 – 09/25)): https://www.wellsfargoadvisors.com/disclosures/legal-disclosures.htm
- Form CRS (Client Relationship Summary) (August 21, 2026 (Rev 08 – 08/26)): https://files.brokercheck.finra.org/crs_19616.pdf
- SEC Investment Adviser Public Disclosure, Wells Fargo Clearing Services, LLC (CRD #19616): https://adviserinfo.sec.gov/firm/summary/19616
- Wells Fargo Clearing Services, LLC, SEC Form ADV filing: https://reports.adviserinfo.sec.gov/reports/ADV/19616/PDF/19616.pdf
Methodology. This page was built September 18, 2026, drawing directly on Wells Fargo Advisors’ own current fee brochure and Form CRS, both linked above, plus this site’s own already-published fiduciary, minimum-investment, and (where one exists) how-to-leave pages for the same firm, each independently sourced when it was built. Any distinction 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, and it is not a substitute for reading Wells Fargo Advisors’ own Form ADV Part 2A and Form CRS. We have not used Wells Fargo Advisors as a client. Wells Fargo Advisors did not pay for, review, or influence this content. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.
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