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 $13,750 a year for Raymond James, 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 | Raymond James (annual fee) | Wells Fargo Advisors (annual fee) |
|---|---|---|
| $250,000 | $6,875 | Up to $5,000 |
| $500,000 | $13,750 | Up to $10,000 |
| $1,000,000 | $27,500 | Up to $20,000 |
| $2,000,000 | $50,000 | Up to $40,000 |
Raymond James discloses a tiered schedule starting at 2.75% (Raymond James & Associates, Inc. Wrap Fee Program Brochure, Form ADV Part 2A Appendix 1, “Maximum Fee Schedule for AMS Managed and IAR Managed Programs”, June 26, 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
Raymond James (Raymond James & Associates, Inc. Wrap Fee Program Brochure, Form ADV Part 2A Appendix 1, “Maximum Fee Schedule for AMS Managed and IAR Managed Programs”, June 26, 2026): “We maintain a fee schedule (“maximum fee schedule”) that outlines the maximum fee rates that can be charged to clients at specific asset-level breakpoints. We calculate maximum Fees on a retroactive basis instead of on an incremental basis. As the aggregated Relationship Value reaches each higher asset tier, or “breakpoint,” the applicable Fee is reduced and assessed retroactively to the first dollar of your account assets. RJCS Equity/Balanced, Schedule A: Up to $1M, 2.75%; $1M-$2M, 2.50%; $2M-$5M, 2.25%; $5M-$10M, 2.00%; $10M+, 1.75%.”
Raymond James’s Consulting Services (RJCS) flagship program is a breakpoint schedule, not a marginal one: your entire account is billed at a single rate, based on which asset-level bracket the whole balance falls into, applied retroactively to the first dollar. The brochure publishes two rate columns for Equity/Balanced accounts, Schedule A and Schedule B, without specifying the eligibility difference between them in the sections reviewed this session; this page uses Schedule A, the higher, first-listed of the two, so the figures shown are a maximum, not a guaranteed rate. Applying each bracket boundary as inclusive of its own labeled ceiling (so a $1,000,000 account is billed at the “Up to $1M” rate and a $2,000,000 account at the “$1M-$2M” rate): $250,000 and $500,000 both fall in the “Up to $1M” bracket at 2.75%; $1,000,000 stays in that same bracket; $2,000,000 falls in the “$1M-$2M” bracket at 2.50%.
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, Raymond James runs $13,750 a year and Wells Fargo Advisors runs up to $10,000 a year (the published maximum): a difference of $3,750 a year between those figures at that balance.
Want the full breakdown for either firm on its own? Read the Raymond James 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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- Raymond James & Associates, Inc. Wrap Fee Program Brochure, Form ADV Part 2A Appendix 1, “Maximum Fee Schedule for AMS Managed and IAR Managed Programs” (June 26, 2026): https://www.raymondjames.com/legal-disclosures
- SEC Investment Adviser Public Disclosure, Raymond James & Associates, Inc. (CRD #705): https://adviserinfo.sec.gov/firm/summary/705
- 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 Raymond James 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.