Guides › Financial Advisor Fees
Updated September 18, 2026. Quick answer: Thrivent is less expensive at $500,000: $7,750 a year, versus $15,000 a year for Mercer Advisors, computed from each firm’s own SEC-filed fee disclosure. At $2,000,000 it is the other way round, $29,000 versus $21,000. 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 | Mercer Advisors (annual fee) | Thrivent (annual fee) |
|---|---|---|
| $250,000 | $15,000 | $4,250 |
| $500,000 | $15,000 | $7,750 |
| $1,000,000 | $15,000 | $14,500 |
| $2,000,000 | $21,000 | $29,000 |
Mercer Advisors discloses a tiered schedule starting at 1.10% (Mercer Global Advisors Inc. Form ADV Part 2A Client Brochure (Custom Wealth / Wealth Management schedule), March 30, 2026); Thrivent discloses a tiered schedule starting at 2.00% (Thrivent Investment Management Inc. Managed Accounts Program Brochure, Form ADV Part 2A Appendix 1, July 2026).
What the fee includes, in each firm’s own words
Mercer Advisors (Mercer Global Advisors Inc. Form ADV Part 2A Client Brochure (Custom Wealth / Wealth Management schedule), March 30, 2026): “WEALTH MANAGEMENT TIERED ADVISORY FEES, PERCENTAGE OF ASSETS MANAGED: First $1,000,000, 1.10%; Next $1,000,000, 1.00%; Next $3,000,000, 0.90%; Next $5,000,000, 0.75%; Over $10,000,000, 0.50%. Minimum Fee, $15,000.”
Mercer’s Custom Wealth tier carries a $15,000 annual minimum fee. The raw percentage math at $250,000, $500,000 and $1,000,000 (roughly $2,750 to $11,000) is overridden by that floor, so the actual billed fee at each of those balances is the flat $15,000 minimum; the percentage schedule only governs once assets are large enough to exceed it, which happens above roughly $1,360,000.
Thrivent (Thrivent Investment Management Inc. Managed Accounts Program Brochure, Form ADV Part 2A Appendix 1, July 2026): “You will be charged a Program Fee for each Account in the Program. The Program Fee will not exceed the applicable rate from the following fee schedule(s). Those maximums are the Advisor, Advisor Guided, SELECT, Income-Focused, Genesis, Shepherd, Impact and Shield schedule: Up to $99,999 2.00%, $100,000-$249,999 1.85%, $250,000-$499,999 1.70%, $500,000-$999,999 1.55%, $1,000,000-$2,999,999 1.45%, $3,000,000-$4,999,999 1.25%, $5,000,000-$9,999,999 1.00%, $10,000,000 and above 0.90%.”
Thrivent uses a breakpoint schedule: the single rate for your bracket applies to the whole balance, not just the amount above the breakpoint. These are the Maximum Program Fee rates on Thrivent’s Advisor, Advisor Guided, SELECT, Income-Focused, Genesis, Shepherd, Impact and Shield schedule, the one covering the programs open to new investors at the $25,000 minimum; the brochure states the Program Fee is negotiable, so an individual account can be lower. Thrivent’s separate SMA/UMA schedule runs higher, to a 2.50% maximum, and its Advantage schedule is closed to new investors. Optional Dedicated Planning Services is a separate fee component, but the brochure states the sum cannot exceed these same maximums. This is Thrivent Investment Management’s Managed Accounts Program (TIMI); the separate Thrivent Advisor Network channel discloses only a ceiling, not these breakpoints.
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, Mercer Advisors runs $15,000 a year and Thrivent runs $7,750 a year: a difference of $7,250 a year at that balance.
Want the full breakdown for either firm on its own? Read the Mercer Advisors fee page or the Thrivent 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 Thrivent, or read the general mechanics of switching financial advisors.
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- Mercer Global Advisors Inc. Form ADV Part 2A Client Brochure (Custom Wealth / Wealth Management schedule) (March 30, 2026): https://www.merceradvisors.com/disclosures/
- SEC Investment Adviser Public Disclosure, Mercer Global Advisors Inc. (CRD #147363): https://adviserinfo.sec.gov/firm/summary/147363
- Thrivent Investment Management Inc. Managed Accounts Program Brochure, Form ADV Part 2A Appendix 1 (July 2026): https://www.thrivent.com/files/24839.pdf
- SEC Investment Adviser Public Disclosure, Thrivent Investment Management Inc. (CRD #18387): https://adviserinfo.sec.gov/firm/summary/18387
Methodology. This page was built September 18, 2026, re-pairing figures already archived and independently verified for Mercer Advisors and Thrivent 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 Thrivent review, including its fiduciary status and what it costs to leave.