Guides › Financial Advisor Fees
Updated September 17, 2026. Quick answer: Morgan Stanley is less expensive at $500,000: $10,175 a year, versus $12,500 a year for UBS, computed from each firm’s own SEC-filed fee disclosure. 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 | UBS (annual fee) | Morgan Stanley (annual fee) |
|---|---|---|
| $250,000 | $6,250 | $5,088 |
| $500,000 | $12,500 | $10,175 |
| $1,000,000 | $25,000 | $20,350 |
| $2,000,000 | $50,000 | $40,700 |
UBS discloses a maximum, individually negotiated rate of 2.5% (UBS Financial Services Inc. Form ADV Part 2A Brochure (PMP/AAP fee schedule), March 31, 2026); Morgan Stanley discloses a maximum, individually negotiated rate of 2.035% (Morgan Stanley Consulting Group Advisor (CGA) Program Wrap Fee Brochure, Form ADV Part 2A Appendix 1, March 30, 2026).
What the fee includes, in each firm’s own words
UBS (UBS Financial Services Inc. Form ADV Part 2A Brochure (PMP/AAP fee schedule), March 31, 2026): “UBS Investment Advisory Fee Schedule, Maximum Fee: All Assets and strategy types (Equity, Balanced and Fixed Income Accounts): 2.50%.”
UBS’s core retail advisory programs (Portfolio Management Program, Advisor Allocation Program) disclose a flat 2.50% maximum, negotiable rate rather than a published breakpoint table. UBS does publish a genuine tiered dollar schedule for Institutional Consulting, but that program requires a $5,000,000 minimum and is not representative of a typical account.
Morgan Stanley (Morgan Stanley Consulting Group Advisor (CGA) Program Wrap Fee Brochure, Form ADV Part 2A Appendix 1, March 30, 2026): “The maximum annual MSWM Fee for CGA accounts is 2.00% of the market value of the eligible assets in the account. … The Platform Fee is a 0.035% annual asset-based fee. The Platform Fee is in addition to the MSWM Fee, is non-negotiable and is generally applicable to all CGA accounts.” 2.00% maximum MSWM Fee plus a non-negotiable 0.035% Platform Fee.
Morgan Stanley discloses only a maximum negotiated rate for its flagship Consulting Group Advisor program, not a public breakpoint table; the figures above are the disclosed ceiling (2.035% combined) applied flat. Fees are stated as negotiable and often lower.
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, UBS runs $12,500 a year and Morgan Stanley runs $10,175 a year: a difference of $2,325 a year at that balance.
Want the full breakdown for either firm on its own? Read the UBS fee page or the Morgan Stanley 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 UBS or what it costs to leave Morgan Stanley, or read the general mechanics of switching financial advisors.
Compare your next step
Just comparing fees? Keep reading the fee guide.Optional next step
Explore an adviser match
Compare the services and the full fee before deciding whether to hire anyone.
- No fee to request a match
- No obligation to hire
Expect questions about your situation, your name, email and phone, and phone verification by text. A match is not guaranteed.
The form is run by Kapitalwise, our advisor-matching partner. Kapitalwise sends your details to advisers who pay for the introduction, so expect calls and texts. Clear Money Guide is paid when you submit the form, whether or not you ever hire anyone. This is free to you and there is no obligation to hire anyone.
Opens here. Nothing loads and nothing reaches Kapitalwise until you press the button.
How our partner relationships workCompare an adviser match before you decide
Ask about the full fee, what it covers and how the adviser is paid. A match is an introduction, not a recommendation from Clear Money Guide.
- Free matching service
- No obligation to hire
The matching service is run by WiserAdvisor, an independent advisor-matching company. It opens on their site, asks for your ZIP code and a few questions, and matches you with 2 to 3 vetted advisors. It is free to you. WiserAdvisor states the service is built for portfolios of $250,000 and above. By submitting, you consent to emails, phone calls and text messages from WiserAdvisor and up to three advisors, so expect to be contacted. Advisers pay for the introduction. Clear Money Guide is paid when you complete the form, whether or not you ever hire anyone. There is no obligation to hire anyone.
Continue to WiserAdvisorOpens on WiserAdvisor’s site in a new tab.
Source: WiserAdvisor’s service descriptionSources
- UBS Financial Services Inc. Form ADV Part 2A Brochure (PMP/AAP fee schedule) (March 31, 2026): https://www.ubs.com/us/en/wealth-management/about-us/disclosure-documents.html
- SEC Investment Adviser Public Disclosure, UBS Financial Services Inc. (CRD #8174): https://adviserinfo.sec.gov/firm/summary/8174
- Morgan Stanley Consulting Group Advisor (CGA) Program Wrap Fee Brochure, Form ADV Part 2A Appendix 1 (March 30, 2026): https://www.morganstanley.com/wealth-investmentsolutions/wrapfeebrochures
- SEC Investment Adviser Public Disclosure, Morgan Stanley Smith Barney LLC (CRD #149777): https://adviserinfo.sec.gov/firm/summary/149777
Methodology. This page was built September 17, 2026, re-pairing figures already archived and independently verified for UBS and Morgan Stanley 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.