Guides › Financial Advisor Fees
Updated October 3, 2026. Quick answer: Wells Fargo Advisors has the lower published fee at $500,000: up to $10,000 a year (the published maximum, which the firm says is negotiable), versus up to $14,750 a year (the sum of the firm’s published maximum fee components) for LPL, 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 | LPL (annual fee) | Wells Fargo Advisors (annual fee) |
|---|---|---|
| $250,000 | Up to $7,375 | Up to $5,000 |
| $500,000 | Up to $14,750 | Up to $10,000 |
| $1,000,000 | Up to $29,500 | Up to $20,000 |
| $2,000,000 | Up to $59,000 | Up to $40,000 |
LPL discloses published fee components that sum to a maximum of 2.95% (LPL Financial LLC Program Brochure, Form ADV Part 2A, Item 5 (“Fee Maximums”), July 1, 2026); Wells Fargo Advisors discloses a published maximum rate of 2.0%, which the firm says is negotiable (Wells Fargo Advisors Wrap Fee Brochure (Personalized Unified Managed Account Program), Form ADV Part 2A Appendix 1, September 2025 (Rev 76-09/25)).
What the fee includes, in each firm’s own words
LPL Financial (LPL Financial LLC Program Brochure, Form ADV Part 2A, Item 5 (“Fee Maximums”), July 1, 2026): “Fee Maximums. Fee maximums vary by Program, as indicated below. … MWP: Maximum Advisory Fee 2.35%, Maximum Manager Fee 0.60%, Total Maximum Account Fee 2.95%.” Model Wealth Portfolios (MWP): 2.35% maximum Advisory Fee plus a 0.60% maximum Manager Fee.
LPL sets per-program fee ceilings rather than a single published breakpoint table; the figures above use Model Wealth Portfolios, LPL’s flagship managed-account program, at its 2.95% combined maximum. Other LPL programs cap lower (as low as 1.35% for Guided Wealth Portfolios); your actual rate depends on the program and is individually negotiated below the ceiling.
Wells Fargo Advisors (Wells Fargo Advisors Wrap Fee Brochure (Personalized Unified Managed Account Program), Form ADV Part 2A Appendix 1, September 2025 (Rev 76-09/25)): “The Advisory Fee for the Personalized UMA Program, which is negotiable, is shown below. Advisory Fee (annualized, calculated on your Account Value): 2.00%.”
Wells Fargo Advisors does not publish a dollar-tiered breakpoint table for the Personalized UMA Program (or for its three sibling programs in the same brochure, FundSource, Private Advisor Network, and Customized Portfolios, which each disclose the identical flat 2.00% standard rate); it publishes a single standard, negotiable rate. The figures above apply that 2.00% as a flat rate; your negotiated rate may be lower. A separate third-party Manager Fee (roughly 0.00% to 0.50%, manager-specific) can apply on top if you select a discretionary manager strategy.
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, LPL runs up to $14,750 a year (the published maximum) and Wells Fargo Advisors runs up to $10,000 a year (the published maximum): a difference of $4,750 a year between those figures at that balance.
Want the full breakdown for either firm on its own? Read the LPL fee page or the Wells Fargo Advisors 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 Wells Fargo Advisors, or read the general mechanics of switching financial advisors.
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Wells Fargo Advisors runs up to $10,000 a year (the published maximum) at $500,000. See what else is available.
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Answer againSources
- LPL Financial LLC Program Brochure, Form ADV Part 2A, Item 5 (“Fee Maximums”) (July 1, 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1050527
- SEC Investment Adviser Public Disclosure, LPL Financial LLC (CRD #6413): https://adviserinfo.sec.gov/firm/summary/6413
- Wells Fargo Advisors Wrap Fee Brochure (Personalized Unified Managed Account Program), Form ADV Part 2A Appendix 1 (September 2025 (Rev 76-09/25)): https://www.wellsfargoadvisors.com/disclosures/legal-disclosures.htm
- SEC Investment Adviser Public Disclosure, Wells Fargo Clearing Services, LLC (CRD #19616): https://adviserinfo.sec.gov/firm/summary/19616
Methodology. This page was built October 3, 2026, re-pairing figures already archived and independently verified for LPL and Wells Fargo Advisors 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.