Guides › Financial Advisor Fees
Updated October 9, 2026. Quick answer: Mariner Wealth Advisors has the lower published fee at $500,000: $7,500 a year (its standard schedule’s minimum fee of $1,875 a quarter), versus up to $8,250 a year (the published maximum) for Northwestern Mutual, computed from each firm’s own SEC-filed fee disclosure. At $250,000 it is the other way round, $7,500 versus $4,125. 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 | Mariner Wealth Advisors (annual fee) | Northwestern Mutual (annual fee) |
|---|---|---|
| $250,000 | $7,500 | Up to $4,125 |
| $500,000 | $7,500 | Up to $8,250 |
| $1,000,000 | $12,500 | Up to $16,500 |
| $2,000,000 | $22,500 | Up to $33,000 |
Mariner Wealth Advisors discloses a tiered schedule starting at 1.25% with a minimum fee of $1,875 a quarter (Mariner, LLC Form ADV Part 2A Brochure, July 17, 2026); Northwestern Mutual discloses a published maximum rate of 1.65% (Northwestern Mutual Wealth Management Company Private Client Services Disclosure Brochure, September 2026).
What the fee includes, in each firm’s own words
Mariner Wealth Advisors (Mariner, LLC Form ADV Part 2A Brochure, July 17, 2026): “The structure and level of our advisory fee will vary by client based upon the services provided and other considerations deemed relevant by us but typically takes the form of a percentage of assets under management and/or advisement, ranging up to 2.50% per annum. Our current standard fee schedule is as follows: Standard Fee Schedule (blended tiered schedule)* $0-$1,000,000 1.25% $1,000,000-$5,000,000 1.00% $5,000,000-$10,000,000 0.80% Above $10,000,000 0.60% *Quarterly minimum fee of $1,875 … All fee arrangements are subject to negotiation. We reserve the right to waive the minimum fee at our discretion.”
Mariner’s standard schedule is blended: each slice of the balance is charged at its own rate (1.25% on the first $1,000,000, 1.00% from $1,000,000 to $5,000,000, 0.80% from $5,000,000 to $10,000,000, 0.60% above that), subject to a minimum fee of $1,875 a quarter, which is $7,500 a year. At $250,000 and $500,000 the minimum, not a rate, sets the fee: $7,500 a year. At $1,000,000 the fee is 1.25% of the balance, $12,500. At $2,000,000 it is $12,500 on the first $1,000,000 plus 1.00% of the next $1,000,000, $22,500. The brochure says fees can range up to 2.50% depending on the services provided, that the firm may waive the minimum, and that every fee arrangement is negotiable, so an actual fee can differ from these figures.
Northwestern Mutual (Northwestern Mutual Wealth Management Company Private Client Services Disclosure Brochure, September 2026): “NMWMC generally charges an annual Net Advisory Fee of no more than 1.65% on assets in a Private Client Services account. The corresponding annual Gross Advisory Fee is no more than 1.76% before the application of the 0.11% fee offset for proprietary investment management fees discussed below.”
Northwestern Mutual does not publish a public dollar-breakpoint schedule; the tiers on your account are negotiated with your advisor and recorded in a private Statement of Investment Selection. The figures above apply the disclosed 1.65% ceiling as a flat rate; your advisor may offer a lower custom schedule.
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, Mariner Wealth Advisors runs $7,500 a year and Northwestern Mutual runs up to $8,250 a year (the published maximum): a difference of $750 a year between those figures at that balance.
Want the full breakdown for either firm on its own? Read the Mariner Wealth Advisors fee page or the Northwestern Mutual 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 Northwestern Mutual, or read the general mechanics of switching financial advisors.
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Northwestern Mutual runs up to $8,250 a year (the published maximum) at $500,000. See what else is available.
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Answer againSources
- Mariner, LLC Form ADV Part 2A Brochure (July 17, 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1052128
- SEC Investment Adviser Public Disclosure, Mariner, LLC d/b/a Mariner Wealth Advisors (CRD #140195): https://adviserinfo.sec.gov/firm/summary/140195
- Northwestern Mutual Wealth Management Company Private Client Services Disclosure Brochure (September 2026): https://www.northwesternmutual.com/assets/pdf/brochures/private-client-services-disclosure.pdf
- SEC Investment Adviser Public Disclosure, Northwestern Mutual Investment Services, LLC (CRD #2881): https://adviserinfo.sec.gov/firm/summary/2881
Methodology. This page was built October 3, 2026, re-pairing figures already archived and independently verified for Mariner Wealth Advisors and Northwestern Mutual 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.