Guides › Financial Advisor Fees
Updated October 3, 2026. Quick answer: Creative Planning has the lower published fee at $500,000: $6,000 a year, versus up to $8,750 a year (the published maximum Merrill Lynch Fee, which the firm says is negotiable, before any Style Manager or PAS Manager fee of generally 0.00% to 0.65%, added on top) for Merrill Lynch, 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 | Creative Planning (annual fee) | Merrill Lynch (annual fee) |
|---|---|---|
| $250,000 | $3,000 | Up to $4,375 |
| $500,000 | $6,000 | Up to $8,750 |
| $1,000,000 | $11,000 | Up to $17,500 |
| $2,000,000 | $21,000 | Up to $35,000 |
Creative Planning discloses a tiered schedule starting at 1.20% (Creative Planning, LLC Form ADV Part 2A, March 31, 2026); Merrill Lynch discloses a published maximum Merrill Lynch Fee Rate of 1.75%, which the firm says is negotiable, plus 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
Creative Planning (Creative Planning, LLC Form ADV Part 2A, March 31, 2026): The brochure’s Annual Fee Calculation, in its standard fee schedule, is 1.20% on the first $500,000, then 1.00% on assets of $500,001-$2,000,000, then .85% on assets of $2,000,001-$5,000,000, then .80% on assets of $5,000,001-$10,000,000, then .70% on assets of $10,000,001-$25,000,000, then .40% on assets of $25,000,001-$50,000,000, then .30% on assets of $50,000,001-$100,000,000, then .25% on assets over $100,000,000.
Creative Planning generally requires a client to have a minimum of $200,000 in assets under management, which it may waive at its discretion. The schedule shown is its standard fee schedule. Clients with assets under management below $500,000 may be charged a minimum management fee, which the brochure says is communicated in the client agreement documents, so the $250,000 figure in the table may be higher in practice.
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 the Merrill Lynch Investment Advisory Program; 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 discretionary Style Manager or PAS Manager strategy inside the Program, an additional manager fee (roughly 0.00% to 0.65% or more, depending on strategy) can apply on top of the 1.75% Merrill Lynch Fee.
How this compares
The median ria charges roughly 1.0% of assets under management annually (the benchmark). At $500,000, Creative Planning runs $6,000 a year and Merrill Lynch runs up to $8,750 a year in maximum Merrill Lynch Fee (before any manager fee): a difference of up to $2,750 a year between those figures at that balance. Because the Merrill Lynch Fee Rate is negotiable, a negotiated rate below 1.20% (Creative Planning’s $6,000 on $500,000) could bring Merrill Lynch under Creative Planning at that balance before any manager fee.
Want the full breakdown for either firm on its own? Read the Creative Planning 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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- Creative Planning, LLC Form ADV Part 2A (March 31, 2026): https://creativeplanning.com/wp-content/uploads/Creative-Planning-Form-ADV-Part-2A.pdf
- SEC Investment Adviser Public Disclosure, Creative Planning, LLC (CRD #105348): https://adviserinfo.sec.gov/firm/summary/105348
- 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 Creative Planning 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.