Guides › Financial Advisor Fees
Updated September 19, 2026. Quick answer: Wells Fargo Advisors is less expensive at $500,000: $10,000 a year, versus $15,000 a year for Mercer, computed from each firm’s own SEC-filed fee disclosure. At $1,000,000 it is the other way round, $20,000 versus $15,000. At $2,000,000 it is the other way round, $40,000 versus $21,000. 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 | Mercer (annual fee) | Wells Fargo Advisors (annual fee) |
|---|---|---|
| $250,000 | $15,000 | $5,000 |
| $500,000 | $15,000 | $10,000 |
| $1,000,000 | $15,000 | $20,000 |
| $2,000,000 | $21,000 | $40,000 |
Mercer discloses a tiered schedule starting at 1.10% (Mercer Global Advisors Inc. Form ADV Part 2A Client Brochure (Custom Wealth / Wealth Management schedule), March 30, 2026); Wells Fargo Advisors discloses a maximum, individually negotiated rate of 2.0% (Wells Fargo Advisors Wrap Fee Brochure (Personalized Unified Managed Account Program), Form ADV Part 2A Appendix 1, September 2025 (Rev 76 – 09/25)).
What the fee includes, in each firm’s own words
Mercer Advisors (Mercer Global Advisors Inc. Form ADV Part 2A Client Brochure (Custom Wealth / Wealth Management schedule), March 30, 2026): “WEALTH MANAGEMENT TIERED ADVISORY FEES, PERCENTAGE OF ASSETS MANAGED: First $1,000,000, 1.10%; Next $1,000,000, 1.00%; Next $3,000,000, 0.90%; Next $5,000,000, 0.75%; Over $10,000,000, 0.50%. Minimum Fee, $15,000.”
Mercer’s Custom Wealth tier carries a $15,000 annual minimum fee. The raw percentage math at $250,000, $500,000 and $1,000,000 (roughly $2,750 to $11,000) is overridden by that floor, so the actual billed fee at each of those balances is the flat $15,000 minimum; the percentage schedule only governs once assets are large enough to exceed it, which happens above roughly $1,360,000.
Wells Fargo Advisors (Wells Fargo Advisors Wrap Fee Brochure (Personalized Unified Managed Account Program), Form ADV Part 2A Appendix 1, September 2025 (Rev 76 – 09/25)): “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.
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, Mercer runs $15,000 a year and Wells Fargo Advisors runs $10,000 a year: a difference of $5,000 a year at that balance.
Want the full breakdown for either firm on its own? Read the Mercer fee page or the Wells Fargo Advisors fee page for the complete tier table and source citations.
Thinking about leaving one of these firms instead of pricing what you would pay to stay? See what it costs to leave Wells Fargo Advisors, or read the general mechanics of switching financial advisors.
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- Mercer Global Advisors Inc. Form ADV Part 2A Client Brochure (Custom Wealth / Wealth Management schedule) (March 30, 2026): https://www.merceradvisors.com/disclosures/
- SEC Investment Adviser Public Disclosure, Mercer Global Advisors Inc. (CRD #147363): https://adviserinfo.sec.gov/firm/summary/147363
- 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
- SEC Investment Adviser Public Disclosure, Wells Fargo Clearing Services, LLC (CRD #19616): https://adviserinfo.sec.gov/firm/summary/19616
Methodology. This page was built September 19, 2026, re-pairing figures already archived and independently verified for Mercer and Wells Fargo Advisors 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.