Guides › Financial Advisor Fees
Updated October 3, 2026. Quick answer: Fidelity is less expensive at $500,000: $6,250 a year, versus $10,000 a year for Baird, computed from each firm’s own SEC-filed fee disclosure. 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 | Baird (annual fee) | Fidelity (annual fee) |
|---|---|---|
| $250,000 | $5,000 | $3,750 |
| $500,000 | $10,000 | $6,250 |
| $1,000,000 | $20,000 | $11,750 |
| $2,000,000 | $35,000 | $20,750 |
Baird discloses a tiered schedule starting at 2.00% (Baird Private Wealth Management Wrap Fee Program Brochure, Form ADV Part 2A Appendix 1, March 27, 2026); Fidelity discloses a tiered schedule starting at 1.50% (capped at $6,250) (Fidelity Wealth Services Form ADV Part 2A Brochure (Strategic Advisers LLC), March 30, 2026).
What the fee includes, in each firm’s own words
Baird (Baird Private Wealth Management Wrap Fee Program Brochure, Form ADV Part 2A Appendix 1, March 27, 2026): “Baird generally offers two types of asset-based fee arrangements: a tiered fee schedule and a breakpoint fee schedule. Under a tiered fee schedule, the asset-based fee will vary for different segments of client assets, gradually decreasing as the Account balance increases. Tiered Advice Fee Schedule: First $1,000,000, 2.00%; Next $1,000,000, 1.50%; Next $3,000,000, 1.35%; Next $5,000,000, 1.25%; Above $10,000,000, 1.00%.”
This is Baird’s marginal (tiered) Advice Fee schedule, which applies across essentially all of Baird’s Private Wealth Management discretionary/advisory programs; each bracket’s rate applies only to the assets inside that bracket. Baird also publishes an alternative whole-balance Breakpoint Advice Fee Schedule (2.00% up to $1M, 1.75% from $1M to just under $2M, 1.50% at $2M and above) that a client and advisor may choose instead; this page uses the tiered version, the one named first in the brochure. For programs that layer on a separate Portfolio Fee (0.00% for several core programs, roughly 0.10% to 0.77% or more for SMA/UMA strategies), the total cost can run higher than the Advice Fee alone.
Fidelity Wealth Management (Fidelity Wealth Services Form ADV Part 2A Brochure (Strategic Advisers LLC), March 30, 2026): “ANNUAL ADVISORY FEE SCHEDULE FOR PROGRAM ACCOUNTS: Wealth Management and Private Wealth Management. If Average Daily Assets total $500,000 or less: For Average Daily Assets from $0 to $500,000, 1.50% (up to a maximum of $6,250). If Average Daily Assets total more than $500,000: For the first $500,000, 1.25%; for the next $500,000, 1.10%; for the next $1,000,000, 0.90%.”
This is the Gross Advisory Fee; Fidelity applies a Credit Amount that can lower the Net Advisory Fee a client actually pays, which is not quantified in the public 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, Baird runs $10,000 a year and Fidelity runs $6,250 a year: a difference of $3,750 a year at that balance.
Want the full breakdown for either firm on its own? Read the Baird fee page or the Fidelity 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 Baird or what it costs to leave Fidelity, or read the general mechanics of switching financial advisors.
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.
Fidelity runs $6,250 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.
Opens on WiserAdvisor’s site in a new tab.
Compare Baird and Fidelity 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.
Prefer flat-fee or hourly pricing instead? Compare ranges here.
Answer againSources
- Baird Private Wealth Management Wrap Fee Program Brochure, Form ADV Part 2A Appendix 1 (March 27, 2026): https://www.bairdwealth.com/retailinvestor
- SEC Investment Adviser Public Disclosure, Robert W. Baird & Co. Incorporated (CRD #8158): https://adviserinfo.sec.gov/firm/summary/8158
- Fidelity Wealth Services Form ADV Part 2A Brochure (Strategic Advisers LLC) (March 30, 2026): https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/FWS-program-fundamentals.pdf
- SEC Investment Adviser Public Disclosure, Strategic Advisers LLC (CRD #104555): https://adviserinfo.sec.gov/firm/summary/104555
Methodology. This page was built October 3, 2026, re-pairing figures already archived and independently verified for Baird and Fidelity 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.