Guides › Financial Advisor Fees
Updated October 3, 2026. Quick answer: Cetera is less expensive at $500,000: $11,875 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, $20,625 versus $15,000. At $2,000,000 it is the other way round, $35,625 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 | Cetera (annual fee) | Mercer (annual fee) |
|---|---|---|
| $250,000 | $6,250 | $15,000 |
| $500,000 | $11,875 | $15,000 |
| $1,000,000 | $20,625 | $15,000 |
| $2,000,000 | $35,625 | $21,000 |
Cetera discloses a tiered schedule starting at 2.50% (Cetera Investment Advisers LLC Form ADV Part 2A Brochure, August 12, 2026); 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).
What the fee includes, in each firm’s own words
Cetera (Cetera Investment Advisers LLC Form ADV Part 2A Brochure, August 12, 2026): “Preferred Asset Management Program Advisory Fee Schedules Preferred Fee Schedule Account Size Maximum Annual Fee First $0-$250,000 2.50% Next $250,001-$500,000 2.25% Next $500,001-$1,000,000 1.75% Next $1,000,001-$2,500,000 1.50% Next $2,500,001-$5,000,000 1.25% Next $5,000,001-Over 1.00%”
This is the maximum allowable fee schedule for Cetera’s Preferred Asset Management Program (used as the representative program; Cetera discloses several similar programs, Prime, Premier, xMA, with slightly different max rates). It is a marginal/tiered schedule like a tax bracket: each dollar slice is billed at its own bracket’s rate and the amounts are summed. Advisor may charge less; this is the stated maximum. The dollar figures in the table apply the schedule’s rates to each balance.
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.
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, Cetera runs $11,875 a year and Mercer runs $15,000 a year: a difference of $3,125 a year at that balance.
Want the full breakdown for either firm on its own? Read the Cetera fee page or the Mercer 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.
Cetera runs $11,875 a year 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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Compare Cetera and Mercer against a fee-based match.
Price the destination before you decide. The matching service below introduces you to advisers who pay to meet you.
Before you start, what actually happens. The form is run by Kapitalwise, our advisor-matching partner. Kapitalwise sends your details to advisers who pay for the introduction, so expect calls and texts. Clear Money Guide is paid when you submit the form, whether or not you ever hire anyone. This is free to you and there is no obligation to hire anyone.
The Kapitalwise form opens here; you stay on this page.
What happens when you press the button
It asks about nine questions: age, investable assets, location; then your name, email and phone number, and verifies the phone by text. Nothing loads and nothing reaches Kapitalwise until you press the button.
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Answer againSources
- Cetera Investment Advisers LLC Form ADV Part 2A Brochure (August 12, 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1054832
- SEC Investment Adviser Public Disclosure, Cetera Investment Advisers LLC (CRD #105644): https://adviserinfo.sec.gov/firm/summary/105644
- Mercer Global Advisors Inc. Form ADV Part 2A Client Brochure (Custom Wealth / Wealth Management schedule) (March 30, 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1034469
- SEC Investment Adviser Public Disclosure, Mercer Global Advisors Inc. (CRD #147363): https://adviserinfo.sec.gov/firm/summary/147363
Methodology. This page was built October 3, 2026, re-pairing figures already archived and independently verified for Cetera and Mercer 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.