Guides › Financial Advisor Fees
Updated September 23, 2026. Quick answer: Stifel Nicolaus is registered with the SEC as both a broker-dealer and an investment adviser. Per its own current fee brochure, a $500,000 account would run up to $10,000 a year (the published maximum, which the firm says is negotiable) under its published fee schedule; the minimum to open an account is $5,000 to $500,000 for Stifel Fee (asset-based wrap fee: Opportunity/IMC, Custom Advisory Portfolio, Solutions/Horizon, Fundamentals, Connect Programs), depending on strategy. Already a client and thinking about leaving? Budget $100 transfer fee, plus a separate $100 IRA/Qualified Plan termination line. Is it a fiduciary? Yes, when it is acting as your investment adviser; when the same representative acts as your broker-dealer instead, the applicable standard is best-interest, not fiduciary, and its own Form CRS states representatives can earn commissions in that capacity.
Reviews of comparable advisory firms: Aspiriant Review (2026) and Atomic Invest Review (2026).
More on this firm: Stifel Nicolaus Alternatives.
Stifel Nicolaus at a glance
| Fact | What Stifel Nicolaus’ own pages say |
|---|---|
| Legal entity | Stifel, Nicolaus & Company, Incorporated |
| Registration | Stifel, Nicolaus & Company, Incorporated is registered with the Securities and Exchange Commission (“SEC”) as a broker-dealer and an investment adviser. |
| Fee on a $500,000 account | Up to $10,000 a year (the published maximum, which the firm says is negotiable), per its own current brochure |
| Minimum to open an account | $5,000 to $500,000 for Stifel Fee (asset-based wrap fee: Opportunity/IMC, Custom Advisory Portfolio, Solutions/Horizon, Fundamentals, Connect Programs), depending on strategy |
| Cost to leave (exit fee) | $100 transfer fee, plus a separate $100 IRA/Qualified Plan termination line |
What Stifel Nicolaus’ own fee schedule charges
“For the Programs described in this brochure, absent special circumstances, each Client pays an asset-based wrap Stifel Fee of up to 2.00%, which covers our account reporting and investment advisory services, trade execution for trades through or with Stifel, compensation to the Financial Advisor, and, as applicable, portfolio management and clearing services. You can generally negotiate the Stifel Fee with your Financial Advisor, subject in certain cases to final approval from Stifel.”
Ceiling type: the brochure states the Stifel Fee is individually negotiated ‘up to 2.00%’ with no fixed floor. dollar_at = balance x 0.02 at each balance (the maximum a client could be charged): 250000×0.02=5000, 500000×0.02=10000, 1000000×0.02=20000, 2000000×0.02=40000. Separate, generally non-negotiable Product Fees of 0.10%-0.85% (Manager-Traded Portfolios) or 0.10%-0.50% (MBT Portfolios) apply on top of the Stifel Fee for portfolios that use an outside/internal manager, and are NOT included in this calculation (analogous to excluding underlying fund expense ratios).
| Account balance | Annual fee |
|---|---|
| $250,000 | $5,000 |
| $500,000 | $10,000 |
| $1,000,000 | $20,000 |
| $2,000,000 | $40,000 |
See the full breakdown, including how the figure is calculated, on Stifel Nicolaus’ own fee page.
Is Stifel Nicolaus a fiduciary?
Stifel, Nicolaus & Company, Incorporated is registered with the Securities and Exchange Commission (“SEC”) as a broker-dealer and an investment adviser.
“When we provide you with a recommendation as your broker-dealer or act as your investment adviser, we have to act in your best interest and not put our interest ahead of yours.”
In brokerage, you will pay Stifel a “commission” or other “transaction-based” fee for each transaction that is executed.
Full detail, including the exact registration type and source: Stifel Nicolaus’ fiduciary status, explained.
The minimum to open an account
“The following minimum account sizes are generally required to open an account in the available Programs outlined in this brochure. Specific minimums may vary, depending on the Portfolio that you select. Exceptions to the stated minimums can be granted in Stifel’s (and, to the extent applicable, the Manager’s) discretion.”
$5,000 to $500,000 for Stifel Fee (asset-based wrap fee: Opportunity/IMC, Custom Advisory Portfolio, Solutions/Horizon, Fundamentals, Connect Programs), depending on strategy. See the full minimum-investment breakdown, including what that minimum would cost per year, on Stifel Nicolaus’ minimum investment page.
What it costs to leave
Stifel prices a full account transfer or termination at $100 and separately lists an identically priced $100 IRA and Qualified Plan Termination Fee as its own line item; the annual IRA custodial fee is a smaller $40 ($30 if householded).
Full mechanics, sources, and the ACATS transfer process: how to leave Stifel Nicolaus.
What we would compare it against
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- Wrap Fee Programs Disclosure Brochure, Stifel, Nicolaus & Company, Incorporated (March 31, 2026): https://www.stifel.com/docs/pdf/disclosures/Advisory/Stifel%20-%20Wrap%20Accounts%20Disclosure%20Brochure.pdf
- Stifel, Nicolaus & Company, Incorporated Form CRS (Effective April 21, 2025): https://reports.adviserinfo.sec.gov/crs/crs_793.pdf
- SEC Investment Adviser Public Disclosure, Stifel, Nicolaus & Company, Incorporated (CRD #793): https://adviserinfo.sec.gov/firm/summary/793
- Stifel, Nicolaus & Company, Incorporated, SEC Form ADV filing: https://reports.adviserinfo.sec.gov/reports/ADV/793/PDF/793.pdf
Methodology. This page was built September 23, 2026, drawing directly on Stifel Nicolaus’ own current fee brochure and Form CRS, both linked above, plus this site’s own already-published fiduciary, minimum-investment, and (where one exists) how-to-leave pages for the same firm, each independently sourced when it was built. 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 Stifel Nicolaus’ own Form ADV Part 2A and Form CRS. We have not used Stifel Nicolaus as a client. Stifel Nicolaus did not pay for, review, or influence this content. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.
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