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 $8,750 a year (the 1.75% maximum Merrill Lynch Fee, which the firm says is negotiable, before any Style Manager or PAS Manager fee charged on top) for Merrill Lynch, computed from each firm’s own SEC-filed fee disclosure. At $250,000 it is the other way round, $7,500 versus $4,375. 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) | Merrill Lynch (annual fee) |
|---|---|---|
| $250,000 | $7,500 | Up to $4,375 |
| $500,000 | $7,500 | Up to $8,750 |
| $1,000,000 | $12,500 | Up to $17,500 |
| $2,000,000 | $22,500 | Up to $35,000 |
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); Merrill Lynch discloses a maximum Merrill Lynch Fee Rate of 1.75%, which the firm says is negotiable, before any Style Manager or PAS Manager fee (Merrill Lynch Investment Advisory Program Brochure (Form ADV Part 2A Wrap Fee Program Brochure), June 26, 2026 (IAPB-062026)).
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.
Merrill Lynch (Merrill Lynch Investment Advisory Program Brochure (Form ADV Part 2A Wrap Fee Program Brochure), June 26, 2026 (IAPB-062026)): “We have set the maximum Merrill Lynch Fee Rate for the Program at 1.75%. The Merrill Lynch Fee Rate is negotiable, meaning you and your Advisor may agree to a Merrill Lynch Fee Rate for an Account that is lower than 1.75%.”
Merrill Lynch does not publish a dollar-tiered breakpoint table for its Investment Advisory Program (IAP); it publishes a maximum Merrill Lynch Fee Rate of 1.75%, which the brochure says is negotiable. The figures above apply that maximum as a flat rate; your actual rate may be lower. If you select a Style Manager or PAS Manager strategy inside the Program, a manager fee is added on top of the 1.75% Merrill Lynch Fee: for Style Manager strategies the brochure says the rates generally range from 0.00% to 0.65%, with prior notice if a rate is higher, and PAS Manager rates are negotiated with the PAS Manager.
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 Merrill Lynch’s 1.75% maximum Merrill Lynch Fee runs up to $8,750 a year before any manager fee: a difference of up to $1,250 a year between those figures at that balance. A Style Manager fee at the top of the generally stated 0.00% to 0.65% range would take Merrill’s maximum to 2.40%, or $12,000, which widens the gap, but a Merrill Lynch Fee negotiated below about 1.50% of assets ($7,500 divided by $500,000) would cost less than Mariner’s $7,500 minimum.
Want the full breakdown for either firm on its own? Read the Mariner Wealth Advisors fee page or the Merrill Lynch 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 Merrill Lynch, or read the general mechanics of switching financial advisors.
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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 (CRD #140195): https://adviserinfo.sec.gov/firm/summary/140195
- Merrill Lynch Investment Advisory Program Brochure (Form ADV Part 2A Wrap Fee Program Brochure) (June 26, 2026 (IAPB-062026)): https://www.ml.com/solutions/understanding-our-services-and-fees-when-you-work-with-an-advisor.html
- SEC Investment Adviser Public Disclosure, Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD #7691): https://adviserinfo.sec.gov/firm/summary/7691
Methodology. This page was built October 3, 2026, re-pairing figures already archived and independently verified for Mariner Wealth Advisors and Merrill Lynch 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.