Guides › Financial Advisor Fees
Updated September 19, 2026. Quick answer: Vanguard Personal Advisor is less expensive at $500,000: $1,750 a year, versus $11,250 a year for Cambridge Investment Research, computed from each firm’s own SEC-filed fee disclosure. See the full side-by-side table below for $250,000, $1 million and $2 million.
What each firm charges, side by side
| Account balance | Cambridge Investment Research (annual fee) | Vanguard Personal Advisor (annual fee) |
|---|---|---|
| $250,000 | $5,625 | $875 |
| $500,000 | $11,250 | $1,750 |
| $1,000,000 | $22,500 | $3,500 |
| $2,000,000 | $45,000 | $7,000 |
Cambridge Investment Research discloses a maximum, individually negotiated rate of 2.25% (Cambridge Investment Research Advisors, Inc. Form ADV Part 2A Disclosure Brochure, July 2026); Vanguard Personal Advisor discloses a published gross rate of 0.35% (Vanguard Digital Advisor and Vanguard Personal Advisor Brochure (Form ADV Part 2A), 2026-08-20).
What the fee includes, in each firm’s own words
Cambridge Investment Research (Cambridge Investment Research Advisors, Inc. Form ADV Part 2A Disclosure Brochure, July 2026): “The investment advisory fee for accounts managed through the Cambridge Managed Account Platform (“CMAP”) is based on the amount of assets under management, including cash balances deposited in a Federal Deposit Insured Corporation (“FDIC”) insured multi bank program (“Program”). … The investment advisory fee is negotiable and is subject to discounts on a Financial Professional-by-Financial Professional, client-by-client, or account-by-account basis. … The maximum allowable advisory fee that can be charged will not exceed 2.25% of assets under management on an annual basis.” Maximum annual advisory fee (Cambridge Managed Account Platform, Flexible Managed Account Platform, WealthPort Advisor-directed / Team-directed): 2.25%; Maximum annual advisory fee (WealthPort CAAP / UMA programs): 2.15%.
CIRA’s Form ADV does not publish one fixed rate schedule. Advisory fees on its primary managed-account platforms (CMAP, FlexMAP, WealthPort Advisor-directed/Team-directed) are individually negotiated between the client and Financial Professional, subject to a disclosed maximum of 2.25% of AUM annually (WealthPort CAAP/UMA caps at 2.15%). Because there is no standard published tier table, dollar_at applies the disclosed 2.25% ceiling uniformly across all four balances as the maximum a client could legally be charged under this brochure (250000*0.0225=5625; 500000*0.0225=11250; 1000000*0.0225=22500; 2000000*0.0225=45000). Actual fees are typically lower and individually negotiated per client/advisor.
Vanguard Personal Advisor (Vanguard Digital Advisor and Vanguard Personal Advisor Brochure (Form ADV Part 2A), 2026-08-20): “Personal Advisor’s annual gross advisory fee for Vanguard Brokerage Accounts is 0.35% for its all‐index investment options and 0.40% for the exclusive active/index mix. … Enrollments in Personal Advisor require an aggregate $50,000 balance or greater” All-index investment option (any enrolled balance; $50,000 aggregate minimum to enroll): 0.35%; Active/index mix investment option (any enrolled balance): 0.40%.
Flat (non-tiered) gross advisory fee applied to the entire enrolled Vanguard Brokerage Account balance regardless of balance size: 0.35% for the all-index investment option (used here as the base case) or 0.40% if the active/index mix is elected. Dollar figures = balance x 0.0035. This is Vanguard’s disclosed gross fee before the affiliate-revenue credit that Vanguard also applies (which further lowers the net fee actually charged, per the same brochure); the gross rate is used here because it is the stated contractual rate, not an estimate.
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, Cambridge Investment Research runs $11,250 a year and Vanguard Personal Advisor runs $1,750 a year: a difference of $9,500 a year at that balance.
Want the full breakdown for either firm on its own? Read the Cambridge Investment Research fee page or the Vanguard Personal Advisor fee page for the complete tier table and source citations.
Comparing these two against a full move? Read the general mechanics of switching financial advisors, or use a dated termination letter once you decide.
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- Cambridge Investment Research Advisors, Inc. Form ADV Part 2A Disclosure Brochure (July 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1055573
- SEC Investment Adviser Public Disclosure, Cambridge Investment Research Advisors, Inc. (CRD #134139): https://adviserinfo.sec.gov/firm/summary/134139
- Vanguard Digital Advisor and Vanguard Personal Advisor Brochure (Form ADV Part 2A) (2026-08-20): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1055528
- SEC Investment Adviser Public Disclosure, Vanguard Advisers, Inc. (CRD #106715): https://adviserinfo.sec.gov/firm/summary/106715
Methodology. This page was built September 19, 2026, re-pairing figures already archived and independently verified for Cambridge Investment Research and Vanguard Personal Advisor from each firm’s own SEC-filed disclosure; sources linked above. Nothing here is personalized financial, tax, legal, or investment advice. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.