Guides › Financial Advisor Fees
Updated October 3, 2026. Quick answer: Northwestern Mutual has the lower published fee at $500,000: up to $8,250 a year (the published maximum), versus up to $12,500 a year (the published maximum, which the firm says is negotiable) for Equitable Advisors, 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 | Equitable Advisors (annual fee) | Northwestern Mutual (annual fee) |
|---|---|---|
| $250,000 | Up to $6,250 | Up to $4,125 |
| $500,000 | Up to $12,500 | Up to $8,250 |
| $1,000,000 | Up to $25,000 | Up to $16,500 |
| $2,000,000 | Up to $50,000 | Up to $33,000 |
Equitable Advisors discloses a published maximum rate of 2.5%, which the firm says is negotiable (Equitable Advisors, LLC 2026 Firm Brochure (Form ADV Part 2A), March 2026); Northwestern Mutual discloses a published maximum rate of 1.65% (Northwestern Mutual Wealth Management Company Private Client Services Disclosure Brochure, September 2026).
What the fee includes, in each firm’s own words
Equitable Advisors (Equitable Advisors, LLC 2026 Firm Brochure (Form ADV Part 2A), March 2026): “The Account Fee is customarily negotiable (in whole or in part). Each LPL Program as its own maximum Account Fee; the highest account fee in an LPL Program is 2.5% of the client’s account value on an annualized basis, and is usually payable quarterly in advance.”
The dollar figures on this page apply that 2.5% maximum to each balance, as the most a client could be charged.
Northwestern Mutual (Northwestern Mutual Wealth Management Company Private Client Services Disclosure Brochure, September 2026): “NMWMC generally charges an annual Net Advisory Fee of no more than 1.65% on assets in a Private Client Services account. The corresponding annual Gross Advisory Fee is no more than 1.76% before the application of the 0.11% fee offset for proprietary investment management fees discussed below.”
Northwestern Mutual does not publish a public dollar-breakpoint schedule; the tiers on your account are negotiated with your advisor and recorded in a private Statement of Investment Selection. The figures above apply the disclosed 1.65% ceiling as a flat rate; your advisor may offer a lower custom 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, Equitable Advisors runs up to $12,500 a year (the published maximum) and Northwestern Mutual runs up to $8,250 a year (the published maximum): a difference of $4,250 a year between those figures at that balance.
Want the full breakdown for either firm on its own? Read the Equitable Advisors fee page or the Northwestern Mutual 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 Equitable Advisors or what it costs to leave Northwestern Mutual, 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.
Northwestern Mutual runs up to $8,250 a year (the published maximum) 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 Equitable Advisors and Northwestern Mutual 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
- Equitable Advisors, LLC 2026 Firm Brochure (Form ADV Part 2A) (March 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1036195
- SEC Investment Adviser Public Disclosure, Equitable Advisors, LLC (CRD #6627): https://adviserinfo.sec.gov/firm/summary/6627
- Northwestern Mutual Wealth Management Company Private Client Services Disclosure Brochure (September 2026): https://www.northwesternmutual.com/assets/pdf/brochures/private-client-services-disclosure.pdf
- SEC Investment Adviser Public Disclosure, Northwestern Mutual Investment Services, LLC (CRD #2881): https://adviserinfo.sec.gov/firm/summary/2881
Methodology. This page was built October 3, 2026, re-pairing figures already archived and independently verified for Equitable Advisors and Northwestern Mutual 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.