Guides › Financial Advisor Fees
Updated September 23, 2026. Quick answer: U.S. Bancorp Investments 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 $9,500 a year under its published fee schedule; the minimum to open an account is $25,000 to $500,000 for Personal Portfolios Wrap Program (Managed Account Strategies/SMA/Core, Guided UMA/UMA/UMP, Advisor Select/AMP/FMP), depending on strategy. Already a client and thinking about leaving? Budget $95 combined transfer/IRA closeout charge. 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.
U.S. Bancorp Investments at a glance
| Fact | What U.S. Bancorp Investments’ own pages say |
|---|---|
| Legal entity | U.S. Bancorp Advisors, LLC |
| Registration | U.S. Bancorp Advisors, LLC is registered with the Securities and Exchange Commission (“SEC”) as a broker-dealer and an investment adviser. |
| Fee on a $500,000 account | $9,500 a year, per its own current brochure |
| Minimum to open an account | $25,000 to $500,000 for Personal Portfolios Wrap Program (Managed Account Strategies/SMA/Core, Guided UMA/UMA/UMP, Advisor Select/AMP/FMP), depending on strategy |
| Cost to leave (exit fee) | $95 combined transfer/IRA closeout charge |
What U.S. Bancorp Investments’ own fee schedule charges
“The following fee schedule applies to all Wrap Program accounts. Account Size Maximum Portfolio Fee: First $250,000 2.00%; Next $250,000 1.80%; Next $500,000 1.60%; Next $1,000,000+ 1.35%; Next $3,000,000 1.10%; Over $5,000,000+ 1.10%. USBA does not apply a minimum Portfolio Fee to Wrap Program accounts… The tiered fee structure will result in a blended rate for your account.”
Tiered/marginal (document explicitly calls it ‘the tiered fee structure’ producing ‘a blended rate’), computed like an income-tax bracket from $0: at $250,000 = 250000×0.02=5000; at $500,000 = 5000 + 250000×0.018=4500 -> 9500; at $1,000,000 = 9500 + 500000×0.016=8000 -> 17500; at $2,000,000 = 17500 + 1000000×0.0135=13500 -> 31000 (the $1M-$2M bracket is the ‘Next $1,000,000’ tier at 1.35%). This is the Maximum Portfolio Fee schedule (the full Wrap Program Fee when no separate outside Investment Manager is used). Note: CRD 17868 (‘U.S. Bancorp Investments, Inc.’) given in the research hint is now IA-INACTIVE per SEC IAPD; the currently active advisory entity publishing this schedule is ‘U.S. Bancorp Advisors, LLC’, CRD 14455, SEC# 801-70084, verified via api.adviserinfo.sec.gov/search/firm.
| Account balance | Annual fee |
|---|---|
| $250,000 | $5,000 |
| $500,000 | $9,500 |
| $1,000,000 | $17,500 |
| $2,000,000 | $31,000 |
See the full breakdown, including how the figure is calculated, on U.S. Bancorp Investments’ own fee page.
Is U.S. Bancorp Investments a fiduciary?
U.S. Bancorp Advisors, LLC is registered with the Securities and Exchange Commission (“SEC”) as a broker-dealer and an investment adviser.
“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.”
In a brokerage account, you generally pay a commission for stock transactions (an amount charged to execute your trade), a markup/markdown for bond transactions (the difference between the market price and the amount you pay) and a sales charge for mutual fund transactions (an amount added to the market value of the shares).
Full detail, including the exact registration type and source: U.S. Bancorp Investments’ fiduciary status, explained.
The minimum to open an account
“The minimum account size generally required for accounts in the Wrap Program is provided in Item 4, Services, Fees and Compensation of this Brochure. At our sole discretion, account minimums may be negotiated. If the value of your account falls below the applicable minimum, we may require you to provide additional money or securities. If your account does not meet the account minimum, we may terminate the advisory relationship and close the account or initiate the steps required to convert it to a commission-based brokerage account. In some circumstances, we may waive the minimum account size requirement based on our assessment of your circumstances.”
$25,000 to $500,000 for Personal Portfolios Wrap Program (Managed Account Strategies/SMA/Core, Guided UMA/UMA/UMP, Advisor Select/AMP/FMP), depending on strategy. See the full minimum-investment breakdown, including what that minimum would cost per year, on U.S. Bancorp Investments’ minimum investment page.
What it costs to leave
U.S. Bancorp Investments prices the combined “account transfers and IRA closeout” charge at $95 per account, identical whether the account is self-directed or full-service; the separate $50 annual account/IRA fee is waived for households above $250,000.
Full mechanics, sources, and the ACATS transfer process: how to leave U.S. Bancorp Investments.
What we would compare it against
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- Personal Portfolios Wrap Program, Form ADV Part 2A – Appendix 1 (Brochure), U.S. Bancorp Advisors, LLC (July 31, 2026): https://www.usbank.com/dam/en/documents/pdfs/wealth-management/Personal-Portfolios-wrap-program-form-adv-part-2A-brochure.pdf
- U.S. Bancorp Advisors Client Relationship Summary (February 16, 2026): https://reports.adviserinfo.sec.gov/crs/crs_14455.pdf
- SEC Investment Adviser Public Disclosure, U.S. Bancorp Advisors, LLC (CRD #14455): https://adviserinfo.sec.gov/firm/summary/14455
- U.S. Bancorp Advisors, LLC, SEC Form ADV filing: https://reports.adviserinfo.sec.gov/reports/ADV/14455/PDF/14455.pdf
Methodology. This page was built September 23, 2026, drawing directly on U.S. Bancorp Investments’ 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 U.S. Bancorp Investments’ own Form ADV Part 2A and Form CRS. We have not used U.S. Bancorp Investments as a client. U.S. Bancorp Investments did not pay for, review, or influence this content. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.
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