Guides › Financial Advisor Fees
Updated September 19, 2026. Quick answer: Voya Financial 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 $13,750 a year under its published fee schedule; the minimum to open an account is no fixed published minimum for IC UMA Program. 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.
Voya Financial Advisors at a glance
| Fact | What Voya Financial Advisors’ own pages say |
|---|---|
| Legal entity | Voya Financial Advisors, Inc. |
| Registration | VFA is registered with the Securities and Exchange Commission (the “SEC”) as an investment adviser and a broker-dealer. |
| Fee on a $500,000 account | $13,750 a year, per its own current brochure |
| Minimum to open an account | No fixed published minimum for IC UMA Program |
| Cost to leave (exit fee) | See how to leave Voya Financial Advisors |
What Voya Financial Advisors’ own fee schedule charges
“Maximum Annual Total Client Fee Portfolio Value From To Annual Total Client Fee First $ 0 – $ 250,000 2.75% Next $ 250,001 – $ 500,000 2.75% Next $ 500,001 – $ 1,000,000 2.50% Next $ 1,000,001 – $ 2,000,000 2.35% Next $ 2,000,001 – $ 5,000,000 2.10% Next $ 5,000,001 – $ 10,000,000 2.05% Next $10,000,001 and over 2.00%”
Marginal/tiered schedule from VFA’s IC UMA Program wrap brochure table: each dollar band is billed only at its own rate (matching the Cambridge/industry convention for ‘Tiered Fee Structure’ presentation with First/Next bands). At $250,000: 250,000 x 2.75% = $6,875. At $500,000: $6,875 (first $250k) + 250,000 x 2.75% = $6,875 = $13,750 (both bands share the 2.75% rate, so this equals 500,000 x 2.75%). At $1,000,000: $13,750 + 500,000 x 2.50% = $12,500 = $26,250. At $2,000,000: $26,250 + 1,000,000 x 2.35% = $23,500 = $49,750.
| Account balance | Annual fee |
|---|---|
| $250,000 | $6,875 |
| $500,000 | $13,750 |
| $1,000,000 | $26,250 |
| $2,000,000 | $49,750 |
See the full breakdown, including how the figure is calculated, on Voya Financial Advisors’ own fee page.
Is Voya Financial Advisors a fiduciary?
VFA is registered with the Securities and Exchange Commission (the “SEC”) as an investment adviser and a broker-dealer.
“When we provide you with a recommendation as your broker-dealer or act as your investment adviser, we have to act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates conflicts with your interests.”
If you invest through a broker-dealer account, you will pay a commission, mark-up, mark-down, or a sales charge.
Full detail, including the exact registration type and source: Voya Financial Advisors’ fiduciary status, explained.
The minimum to open an account
“Participation in the IC UMA Program is subject to certain minimum account requirements. VFA may require a minimum account value depending on the strategy selected which is reflected on the UMA Program Advisory Account Agreement.”
No fixed published minimum for IC UMA Program. See the full minimum-investment breakdown, including what that minimum would cost per year, on Voya Financial Advisors’ minimum investment page.
What it costs to leave
A dedicated how-to-leave page for Voya Financial Advisors covers the exit costs in full. The general mechanics of switching financial advisors and a dated termination letter apply regardless of firm.
What we would compare it against
Before you decide, run the numbers against another firm using the financial advisor fee comparison, or price the dollar cost of any percentage fee over time with the Financial Advisor Fee Calculator and the Fee Drag Calculator.
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Comparing Voya Financial Advisors against other options? See who else would take your account.
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Before you start, what actually happens. The matching service is run by WiserAdvisor, an independent advisor-matching company. It opens on their site, asks for your ZIP code and a few questions, and matches you with 2 to 3 vetted advisors. It is free to you.
WiserAdvisor states the service is built for portfolios of $250,000 and above. By submitting, you consent to emails, phone calls and text messages from WiserAdvisor and up to three advisors, so expect to be contacted. Clear Money Guide is paid when you complete the form, whether or not you ever hire anyone.
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What happens when you press the button
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Answer againSources
- Voya Financial Advisors, Inc. Part 2A Appendix 1 of Form ADV: Investor Center Wrap Fee Program Brochure (IC UMA Program) (September 16, 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1058134
- Form CRS (Client Relationship Summary) (March 31, 2023): https://files.brokercheck.finra.org/crs_2882.pdf
- SEC Investment Adviser Public Disclosure, Voya Financial Advisors, Inc. (CRD #2882): https://adviserinfo.sec.gov/firm/summary/2882
- Voya Financial Advisors, Inc., SEC Form ADV filing: https://reports.adviserinfo.sec.gov/reports/ADV/2882/PDF/2882.pdf
Methodology. This page was built September 19, 2026, drawing directly on Voya Financial 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 Voya Financial Advisors’ own Form ADV Part 2A and Form CRS. We have not used Voya Financial Advisors as a client. Voya Financial Advisors did not pay for, review, or influence this content. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.
Comparing firms? See all 182 advisor firm reviews in one table, with each firm’s type and its fee on a $500,000 account.