Northern Trust Wealth Management Review (2026): Fees, Fiduciary Status, and Minimum

Guides › Financial Advisor Fees

Updated September 24, 2026. Quick answer: Northern Trust Wealth Management 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 $6,250 a year under its published fee schedule; the minimum to open an account is $20,000 to $1,000,000 for Northern Trust Securities wrap programs (Separately Managed Account, Fund Strategist Portfolios, and Strategist UMA), depending on strategy. 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.

Northern Trust Wealth Management at a glance

What Northern Trust Wealth Management’s own fee schedule charges

“Wrap clients generally pay an investment advisery fee based on a percentage of the market value of the assets managed by NTSI. NTSI is compensated for investment management services provided to its clients. The table below shows our fee ranges categorized by the amount of total assets in the account. For Fund Strategist Portfolio, Strategist UMA, Equity and Balanced SMA strategies: First $500,000 1.25%, Next $500,000 1.00%, Next $4,000,000 0.85%, Assets over $5,000,000 0.75%.”

This is a marginal breakpoint schedule, so each rate applies only to the dollars that fall inside its own band, not to the whole balance. At $250,000 the entire amount sits in the first $500,000 band, so the fee is 250,000 x 1.25% = $3,125. At $500,000 the fee is 500,000 x 1.25% = $6,250. At $1,000,000 the fee is (500,000 x 1.25%) + (500,000 x 1.00%) = 6,250 + 5,000 = $11,250. At $2,000,000 the fee is (500,000 x 1.25%) + (500,000 x 1.00%) + (1,000,000 x 0.85%) = 6,250 + 5,000 + 8,500 = $19,750. The brochure separately states minimum account balances and minimum annual fees that vary by program (roughly $1,000 to $1,500 for the Separately Managed Account program, $250 to $625 for Fund Strategist Portfolio, and $1,500 for Strategist UMA) rather than one single minimum, so no single minimum_fee figure is reported here.

See the full breakdown, including how the figure is calculated, on Northern Trust Wealth Management’s own fee page.

Is Northern Trust Wealth Management a fiduciary?

Northern Trust Securities, Inc. (“NTSI”) is registered with the U.S. 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.”

Our financial professionals are paid a base salary as well as incentive compensation. The incentive compensation is discretionary and is based on a number of factors including client satisfaction, professional conduct and the income generated by the brokerage commissions or advisory assets that their clients bring into our firm.

Full detail, including the exact registration type and source: Northern Trust Wealth Management’s fiduciary status, explained.

The minimum to open an account

“A client must maintain a minimum account balance and accounts are subject to a minimum annual fee. The minimum account balance and minimum annual fee vary by the program. … Wrap Fee Model Program Minimum Account Balance Range Minimum Annual Fees Separately Managed Account (“SMA”) From $250,000 to $500,000 From $1,000 to $1,500 Fund Strategist Portfolios (“FSP”) From $20,000 to $100,000 From $250 to $625 Strategist UMA From $250,000 to $1,000,000 $1,500”

$20,000 to $1,000,000 for Northern Trust Securities wrap programs (Separately Managed Account, Fund Strategist Portfolios, and Strategist UMA), depending on strategy. See the full minimum-investment breakdown, including what that minimum would cost per year, on Northern Trust Wealth Management’s minimum investment page.

What it costs to leave

Northern Trust Wealth Management does not yet have a dedicated exit-fee page on this site. 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.

Sources

• Form ADV Part 2A, Appendix 1: Wrap Fee Program Brochure (March 31, 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1038325
• Northern Trust Securities, Inc. Form CRS (UNVERIFIED (no effective/filing date is printed anywhere in the 4-page document; internal PDF metadata is not cited as a substitute)): https://reports.adviserinfo.sec.gov/crs/crs_7927.pdf
• SEC Investment Adviser Public Disclosure, Northern Trust Securities, Inc. (CRD #7927): https://adviserinfo.sec.gov/firm/summary/7927
• Northern Trust Securities, Inc., SEC Form ADV filing: https://reports.adviserinfo.sec.gov/reports/ADV/7927/PDF/7927.pdf

Methodology. This page was built September 24, 2026, drawing directly on Northern Trust Wealth Management’s own current fee brochure and Form CRS, both linked above, plus this site’s own already-published fiduciary and minimum-investment 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 Northern Trust Wealth Management’s own Form ADV Part 2A and Form CRS. We have not used Northern Trust Wealth Management as a client. Northern Trust Wealth Management did not pay for, review, or influence this content. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.