Guides › Financial Advisor Fees
Updated September 28, 2026. Quick answer: $1,000,000 for Retail Advisory Services. UMB Private Wealth Management’s own Form ADV Part 2A brochure states this figure directly, though the firm can waive or reduce it at its own discretion. At that minimum, UMB Private Wealth Management’s own published fee schedule works out to $11,500 a year.
The minimum, in the firm’s own words
“Retail clients are individuals, families, and businesses with a net worth of $1 million or more. UMBPWM may engage clients not listed above and may waive minimum account requirements at its discretion.”
On waivability: “UMBPWM may engage clients not listed above and may waive minimum account requirements at its discretion.”
Minimum investment and what it would cost
| Program | Minimum investment | Annual fee at that minimum | Waivable? |
|---|---|---|---|
| Retail Advisory Services | $1,000,000 | $11,500 | Yes, at the firm’s discretion |
| Source: UMB Private Wealth Management, LLC Form ADV Part 2A Brochure, September 18, 2026 | |||
UMB Private Wealth Management’s own fee schedule at other balances
| Account balance | Annual fee |
|---|---|
| $250,000 | $5,000 |
| $500,000 | $6,250 |
| $1,000,000 | $11,500 |
| $2,000,000 | $23,000 |
What a larger account would cost
The minimum is only the entry point. On a $500,000 account, UMB Private Wealth Management’s own published fee schedule runs $6,250 a year; see the full dollar breakdown from UMB Private Wealth Management’s own fee disclosure across several account sizes. Read our full review of UMB Private Wealth Management before you decide.
Already a client and thinking about the minimum a different way, like whether you could get a better deal elsewhere? Read the general mechanics of switching financial advisors, or use a dated termination letter once you decide.
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- UMB Private Wealth Management, LLC Form ADV Part 2A Brochure (September 18, 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1058414
- SEC Investment Adviser Public Disclosure, UMB Private Wealth Management, LLC (CRD #306374): https://adviserinfo.sec.gov/firm/summary/306374
- UMB Private Wealth Management, LLC, SEC Form ADV filing: https://reports.adviserinfo.sec.gov/reports/ADV/306374/PDF/306374.pdf
Methodology. This page was built September 28, 2026, quoting directly from UMB Private Wealth Management’s own current Form ADV Part 2A / wrap-fee brochure, with the source linked above. The annual-fee-at-the-minimum figure applies that same brochure’s own published fee schedule to the disclosed minimum dollar amount; 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 the firm’s own Form ADV Part 2A. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.
How much do you need to open an account? Compare the minimum investment at 128 advisory firms, each taken from the firm’s own Form ADV Part 2A brochure.