Guides › Financial Advisor Fees
Updated September 18, 2026. Quick answer: Charles Schwab is less expensive at $500,000: $4,000 a year, versus $12,500 a year for Carson Wealth, 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 | Charles Schwab (annual fee) | Carson Wealth (annual fee) |
|---|---|---|
| $250,000 | $4,000 | $6,250 |
| $500,000 | $4,000 | $12,500 |
| $1,000,000 | $8,000 | $25,000 |
| $2,000,000 | $15,500 | $50,000 |
Charles Schwab discloses a tiered schedule starting at 0.80% (Charles Schwab & Co., Inc. Disclosure Brochure for the Schwab Wealth Advisory Wrap Fee Program, June 30, 2026 (Standard SWA Fee Schedule effective October 1, 2024)); Carson Wealth discloses a maximum, individually negotiated rate of 2.5% (CWM, LLC Form ADV Part 2A Brochure, December 2025).
What the fee includes, in each firm’s own words
Charles Schwab (Charles Schwab & Co., Inc. Disclosure Brochure for the Schwab Wealth Advisory Wrap Fee Program, June 30, 2026 (Standard SWA Fee Schedule effective October 1, 2024)): “Standard SWA Fee Schedule (effective October 1, 2024): Amounts up to US$1 million, 0.80%; Next US$1 million (more than US$1M up to US$2M), 0.75%; Next US$3 million (more than US$2M up to US$5M), 0.70%; Next US$5 million (more than US$5M up to US$10M), 0.50%; Next US$15 million (more than US$10M up to US$25M), 0.30%; Assets over US$25 million, 0.30% (or less, as negotiated). The SWA Fee is subject to a quarterly minimum, which represents the minimum amount charged for the advisory services provided during a quarter. The quarterly minimum is equal to the lesser of: $1,000, or 1.60% of your total billable assets, calculated on a quarterly basis.”
Schwab Wealth Advisory (SWA) bills a marginal (tiered) schedule, but every account is also subject to a quarterly minimum equal to the lesser of $1,000 or 1.6% of that quarter’s billable assets, which for any balance above about $62,500 works out to a flat $1,000-a-quarter ($4,000-a-year) floor. At $250,000, the marginal schedule alone would compute to $2,000 a year, but the $4,000 floor overrides it, so $4,000 is what is actually billed. At $500,000, the marginal schedule and the floor land on the same number, $4,000, by design: Schwab sets SWA’s own account minimum at $500,000. At $1,000,000 and $2,000,000, the marginal schedule exceeds the floor, so the schedule rate applies directly ($8,000 and $8,000 plus 0.75% on the next $1,000,000, or $15,500). Clients enrolled before October 1, 2024 sit on a different, Grandfathered SWA Fee Schedule; the figures here are for current, Standard enrollees.
Carson Wealth (CWM, LLC Form ADV Part 2A Brochure, December 2025): “The annual investment advisory fee charged range up to a maximum of 2.50% of the assets held in the account.”
CWM, LLC (the SEC-registered adviser behind the Carson Wealth brand) discloses a single ceiling rate of 2.50% per year rather than a dollar-breakpoint table. Fees are individually negotiated based on advisor, account size, complexity, and other factors, and are typically lower than the ceiling for larger accounts. The dollar figures apply the disclosed 2.50% maximum as a flat rate to each balance (balance x 0.025), which represents a worst-case/ceiling estimate, not a guaranteed quote.
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, Charles Schwab runs $4,000 a year and Carson Wealth runs $12,500 a year: a difference of $8,500 a year at that balance.
Want the full breakdown for either firm on its own? Read the Charles Schwab fee page or the Carson Wealth 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 Charles Schwab, or read the general mechanics of switching financial advisors.
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- Charles Schwab & Co., Inc. Disclosure Brochure for the Schwab Wealth Advisory Wrap Fee Program (June 30, 2026 (Standard SWA Fee Schedule effective October 1, 2024)): https://www.schwab.com/transparency
- SEC Investment Adviser Public Disclosure, Charles Schwab & Co., Inc. (CRD #5393): https://adviserinfo.sec.gov/firm/summary/5393
- CWM, LLC Form ADV Part 2A Brochure (December 2025): https://carsonhub.wpengine.com/wp-content/uploads/2026/02/CWM-LLC-ADV-Part-2A-December-2025.pdf
- SEC Investment Adviser Public Disclosure, CWM, LLC (CRD #155344): https://adviserinfo.sec.gov/firm/summary/155344
Methodology. This page was built September 18, 2026, re-pairing figures already archived and independently verified for Charles Schwab and Carson Wealth 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.
Weighing whether to move ahead? Read the full Charles Schwab review, including its fiduciary status and what it costs to leave.
Already with Carson Wealth and weighing a move? How to leave Carson Wealth covers what it costs to transfer out.