Guides › Financial Advisor Fees
Updated September 19, 2026. Quick answer: Ameriprise is less expensive at $500,000: $10,000 a year, versus $14,750 a year for LPL, 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 | Ameriprise (annual fee) | LPL (annual fee) |
|---|---|---|
| $250,000 | $5,000 | $7,375 |
| $500,000 | $10,000 | $14,750 |
| $1,000,000 | $20,000 | $29,500 |
| $2,000,000 | $40,000 | $59,000 |
Ameriprise discloses a maximum, individually negotiated rate of 2.0% (Ameriprise Managed Accounts Client Disclosure Brochure (Wrap Fee Program), Form ADV Part 2A Appendix 1, June 2026); LPL discloses a maximum, individually negotiated rate of 2.95% (LPL Financial LLC Program Brochure, Form ADV Part 2A, Item 5 (“Fee Maximums”), July 1, 2026).
What the fee includes, in each firm’s own words
Ameriprise (Ameriprise Managed Accounts Client Disclosure Brochure (Wrap Fee Program), Form ADV Part 2A Appendix 1, June 2026): “The Asset-based Fee is comprised of the total of (1) a negotiable Advisory Fee of up to a maximum annual rate of 2.0%; (2) a Platform Fee rate that varies by Program; and (3) any applicable Manager Fee.” 2.00% maximum Advisory Fee (SPS Advisor Program), before an additional Platform Fee of 0.02% to 0.05% and an Investments and Infrastructure Support Fee of 0.03% that can stack on top.
Ameriprise’s SPS Advisor program (its discretionary flagship) discloses only a maximum negotiated Advisory Fee of 2.0%, not a public dollar-tiered table; actual per-tier minimum rates are deferred to a private, non-SEC-filed Relationship Agreement not available to the public. The figures above apply the disclosed 2.0% Advisory Fee ceiling as a flat rate. On top of it, a Platform Fee (0.02% to 0.05% of assets) and an Investments and Infrastructure Support Fee (0.03%) can apply, which together push the all-in disclosed maximum to about 2.08% (roughly $5,200 a year on $250,000 instead of $5,000).
LPL Financial (LPL Financial LLC Program Brochure, Form ADV Part 2A, Item 5 (“Fee Maximums”), July 1, 2026): “Fee Maximums. Fee maximums vary by Program, as indicated below. … MWP: Maximum Advisory Fee 2.35%, Maximum Manager Fee 0.60%, Total Maximum Account Fee 2.95%.” Model Wealth Portfolios (MWP): 2.35% maximum Advisory Fee plus a 0.60% maximum Manager Fee.
LPL sets per-program fee ceilings rather than a single published breakpoint table; the figures above use Model Wealth Portfolios, LPL’s flagship managed-account program, at its 2.95% combined maximum. Other LPL programs cap lower (as low as 1.35% for Guided Wealth Portfolios); your actual rate depends on the program and is individually negotiated below the ceiling.
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, Ameriprise runs $10,000 a year and LPL runs $14,750 a year: a difference of $4,750 a year at that balance.
Want the full breakdown for either firm on its own? Read the Ameriprise fee page or the LPL 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 Ameriprise, or read the general mechanics of switching financial advisors.
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- Ameriprise Managed Accounts Client Disclosure Brochure (Wrap Fee Program), Form ADV Part 2A Appendix 1 (June 2026): https://www.ameriprise.com/legal/disclosures
- SEC Investment Adviser Public Disclosure, Ameriprise Financial Services, LLC (CRD #6363): https://adviserinfo.sec.gov/firm/summary/6363
- LPL Financial LLC Program Brochure, Form ADV Part 2A, Item 5 (“Fee Maximums”) (July 1, 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1050527
- SEC Investment Adviser Public Disclosure, LPL Financial LLC (CRD #6413): https://adviserinfo.sec.gov/firm/summary/6413
Methodology. This page was built September 19, 2026, re-pairing figures already archived and independently verified for Ameriprise and LPL 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.