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Updated September 19, 2026. Quick answer: TIAA Wealth Management 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 $4,500 a year under its published fee schedule; the minimum to open an account is no fixed amount for Private Asset Management (PAM) Program (its own brochure states the program does not have a minimum investment amount; $1,000,000 is only the level of investable assets the program is generally deemed appropriate for). 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.
TIAA Wealth Management at a glance
| Fact | What TIAA Wealth Management’s own pages say |
|---|---|
| Legal entity | TIAA-CREF Individual & Institutional Services, LLC (d/b/a Advice & Planning Services, sponsor of the Private Asset Management Program) |
| Registration | TC Services is an affiliate of TIAA and is registered as a broker-dealer and investment adviser with the Securities and Exchange Commission. |
| Fee on a $500,000 account | $4,500 a year, per its own current brochure |
| Minimum to open an account | No fixed amount for Private Asset Management (PAM) Program (its own brochure states the program does not have a minimum investment amount; $1,000,000 is only the level of investable assets the program is generally deemed appropriate for) |
| Cost to leave (exit fee) | See how to leave TIAA Wealth Management |
What TIAA Wealth Management’s own fee schedule charges
“The PAM Fee schedules for the discretionary accounts are provided below. They are subject to change with prior notice to materially impacted clients enrolled in PAM. … PAM Fee Blended Schedule Value Bracket Annual Fee as % First $1,000,000 of market value 0.90% Next $2,000,000 0.70% Next $2,000,000 0.50% Over $5,000,000 0.40%”
Marginal/tax-bracket-style tiers from the PAM Fee Blended Schedule (the Private Asset Management program run by TC Services, TIAA’s high-net-worth wealth-management arm, sub-advised by TIAA Wealth Investment Management LLC). $250k: 250,000 x 0.90% = $2,250. $500k: 500,000 x 0.90% = $4,500. $1M: 1,000,000 x 0.90% = $9,000. $2M: first $1,000,000 x 0.90% = $9,000, plus the next $1,000,000 (of the $1,000,001-$3,000,000 tier) x 0.70% = $7,000, total $16,000. TIAA Wealth Investment Management LLC (CRD 334925, SEC file 801-132296, the WIM sub-adviser entity) has no client-facing fee schedule of its own – it is paid a flat sub-advisory basis-point fee by TC Services/TIAA Trust; the PAM brochure sponsored by TC Services is the entity that actually bills clients and is the correct primary source for a buildable schedule. A separate ‘PAM Fee Exclusively Fixed Income Schedule’ (0.50%/0.35%/0.25%/0.20%/0.15% tiers) applies only to all-fixed-income accounts and was not used here.
| Account balance | Annual fee |
|---|---|
| $250,000 | $2,250 |
| $500,000 | $4,500 |
| $1,000,000 | $9,000 |
| $2,000,000 | $16,000 |
See the full breakdown, including how the figure is calculated, on TIAA Wealth Management’s own fee page.
Is TIAA Wealth Management a fiduciary?
TC Services is an affiliate of TIAA and is registered as a broker-dealer and investment adviser with the Securities and Exchange Commission.
“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.”
Brokerage accounts offered by us (including retail, IRA and accounts associated with employer-sponsored retirement plans) Account fees, brokerage commissions, investment expenses, transaction fees
Full detail, including the exact registration type and source: TIAA Wealth Management’s fiduciary status, explained.
The minimum to open an account
“PAM does not have a minimum investment amount, but the Program generally is deemed appropriate for clients with at least $1,000,000 in investable assets in the Program.”
No fixed amount for Private Asset Management (PAM) Program (its own brochure states the program does not have a minimum investment amount; $1,000,000 is only the level of investable assets the program is generally deemed appropriate for). See the full minimum-investment breakdown, including what that minimum would cost per year, on TIAA Wealth Management’s minimum investment page.
What it costs to leave
A dedicated how-to-leave page for TIAA Wealth Management covers the exit costs in full. The general mechanics of switching financial advisors and a dated termination letter apply regardless of firm.
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- TIAA-CREF Individual & Institutional Services, LLC – Advice & Planning Services – Private Asset Management Disclosure Brochure (Form ADV Part 2A) (March 31, 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1028127
- Form CRS (Client Relationship Summary) (January 1, 2026 (document reads “Client relationship summary, as of January 1, 2026”; a trailing exhibit describes changes since the prior version last updated July 31, 2023)): https://files.brokercheck.finra.org/crs_20472.pdf
- SEC Investment Adviser Public Disclosure, TIAA-CREF Individual & Institutional Services, LLC (CRD #20472): https://adviserinfo.sec.gov/firm/summary/20472
- TIAA-CREF Individual & Institutional Services, LLC, SEC Form ADV filing: https://reports.adviserinfo.sec.gov/reports/ADV/20472/PDF/20472.pdf
Methodology. This page was built September 19, 2026, drawing directly on TIAA Wealth Management’s 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 TIAA Wealth Management’s own Form ADV Part 2A and Form CRS. We have not used TIAA Wealth Management as a client. TIAA Wealth Management did not pay for, review, or influence this content. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.
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