Guides › Financial Advisor Fees
Updated October 3, 2026. Quick answer: MassMutual has the lower published fee at $500,000: up to $10,350 a year (the sum of the firm’s published maximum fee components), versus up to $14,750 a year (the sum of the firm’s published maximum fee components) for LPL, computed from each firm’s own SEC-filed fee disclosure. Where a firm publishes only a maximum rate, the figure shown is that maximum, and what you pay may be lower. 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 | LPL (annual fee) | MassMutual (annual fee) |
|---|---|---|
| $250,000 | Up to $7,375 | Up to $5,175 |
| $500,000 | Up to $14,750 | Up to $10,350 |
| $1,000,000 | Up to $29,500 | Up to $20,700 |
| $2,000,000 | Up to $59,000 | Up to $41,400 |
LPL discloses published fee components that sum to a maximum of 2.95% (LPL Financial LLC Program Brochure, Form ADV Part 2A, Item 5 (“Fee Maximums”), July 1, 2026); MassMutual discloses published fee components that sum to a maximum of 2.07% (MML Investors Services, LLC, MMLIS Wealth Management Services Portfolio Solutions Programs Wrap Fee Brochure (Form ADV Part 2A Appendix 1), July 10, 2026).
What the fee includes, in each firm’s own words
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.
MassMutual (MML Investors Services, LLC, MMLIS Wealth Management Services Portfolio Solutions Programs Wrap Fee Brochure (Form ADV Part 2A Appendix 1), July 10, 2026): “The Client Fee includes an Execution, Clearing and Custody Fee of 0.06%, a negotiable Advisory Fee up to a maximum of 1.54%, and any applicable fees to Strategists. … Strategist Fees range from 0.05% to 0.47%.”
MMLIS’s Client Fee for the Portfolio Solutions Programs is built from three disclosed components rather than one published schedule: a fixed 0.06% Execution/Clearing/Custody Fee, a negotiable Advisory Fee capped at 1.54% of AUM, and a Strategist Fee ranging 0.05%-0.47% depending on which asset-allocation model/strategist is selected (or 0% if none). The dollar figures on this page apply that 2.07% maximum to each balance, as the most a client could be charged. A client’s actual fee would typically be lower depending on the negotiated Advisory Fee and the Strategist Fee of the specific model chosen.
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, LPL runs up to $14,750 a year (the published maximum) and MassMutual runs up to $10,350 a year (the published maximum): a difference of $4,400 a year between those figures at that balance.
Want the full breakdown for either firm on its own? Read the LPL fee page or the MassMutual fee page for the complete tier table and source citations.
Comparing these two against a full move? Read the general mechanics of switching financial advisors, or use a dated termination letter once you decide.
Find the right next step for your situation
About how much do you have invested? Pick the range that fits; your next step appears immediately below.
MassMutual runs up to $10,350 a year (the published maximum) at $500,000. See what else is available.
If your portfolio is $250,000 or more, this connects you (free, with no obligation to hire anyone) with 2 to 3 vetted advisors.
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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Answer againSources
- 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
- MML Investors Services, LLC, MMLIS Wealth Management Services Portfolio Solutions Programs Wrap Fee Brochure (Form ADV Part 2A Appendix 1) (July 10, 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1051357
- SEC Investment Adviser Public Disclosure, MML Investors Services, LLC (CRD #10409): https://adviserinfo.sec.gov/firm/summary/10409
Methodology. This page was built October 3, 2026, re-pairing figures already archived and independently verified for LPL and MassMutual 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.