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Updated September 28, 2026. Quick answer: It depends which strategy you pick: third-party model portfolio programs marketed through BNY Mellon runs from $10,000 to $50,000, depending on the specific strategy or model portfolio. At the $10,000 low end, Horace Mann Investors’ own fee schedule works out to $160 a year; strategies at the high end require substantially more.
The minimum, in the firm’s own words
“BNY AdvisorFlex Portfolios a flexible mutual fund and ETF wrap account product available in the BNY Program with a $50,000 minimum investment. … BNY/American Funds Core Portfolios a discretionary mutual fund and ETF wrap account product with a $10,000 minimum investment.”
On waivability: “HMII may negotiate with the TPIA a lower minimum initial investment for all Clients.”
Minimum investment and what it would cost
| Program | Minimum investment | Annual fee at that minimum | Waivable? |
|---|---|---|---|
| third-party model portfolio programs marketed through BNY Mellon (lowest-minimum strategy) | $10,000 | $160 | Yes, at the firm’s discretion |
| third-party model portfolio programs marketed through BNY Mellon (highest-minimum strategy) | $50,000 | Varies by strategy | Yes, at the firm’s discretion |
| Source: Form ADV Part 2A, March 31, 2026 | |||
Horace Mann Investors’ own fee schedule at other balances
| Account balance | Annual fee |
|---|---|
| $250,000 | $4,000 |
| $500,000 | $8,000 |
| $1,000,000 | $15,000 |
| $2,000,000 | $27,000 |
What else to know
Horace Mann Investors does not directly manage client assets; all account minimums are set by the third-party investment advisers, chiefly BNY Mellon, whose model portfolios it markets to its educator clientele. Disclosed minimums range from $10,000 (BNY/American Funds Core Portfolios and certain other BNY model strategies) to $50,000 (BNY AdvisorFlex Portfolios).
What a larger account would cost
The minimum is only the entry point. On a $500,000 account, Horace Mann Investors’ own Form ADV Part 2A (March 31, 2026) works out to $8,000 a year under its published fee schedule.
Other firms’ minimum investments
Read this one, this one too, and one more.
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- Form ADV Part 2A (March 31, 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1035668
- SEC Investment Adviser Public Disclosure, Horace Mann Investors, Inc. (CRD #11643): https://adviserinfo.sec.gov/firm/summary/11643
- Horace Mann Investors, Inc., SEC Form ADV filing: https://reports.adviserinfo.sec.gov/reports/ADV/11643/PDF/11643.pdf
Methodology. This page was built September 28, 2026, quoting directly from Horace Mann Investors’ own current Form ADV Part 2A / wrap-fee brochure, with the source linked above. The annual-fee-at-the-minimum figure applies that same brochure’s own published fee schedule to the disclosed minimum dollar amount; any distinction we could not independently confirm this session is named as an honest gap rather than presented as verified. Nothing here is personalized financial, tax, legal, or investment advice, and it is not a substitute for reading the firm’s own Form ADV Part 2A. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.