Guides › Financial Advisor Fees
Updated September 23, 2026. Quick answer: It depends which strategy you pick: Personal Portfolios Wrap Program (Managed Account Strategies/SMA/Core, Guided UMA/UMA/UMP, Advisor Select/AMP/FMP) runs from $25,000 to $500,000, depending on the specific strategy or model portfolio. At the $25,000 low end, U.S. Bancorp Investments’ own fee schedule works out to $500 a year; strategies at the high end require substantially more.
The minimum, in the firm’s own words
“The minimum account size generally required for accounts in the Wrap Program is provided in Item 4, Services, Fees and Compensation of this Brochure. At our sole discretion, account minimums may be negotiated. If the value of your account falls below the applicable minimum, we may require you to provide additional money or securities. If your account does not meet the account minimum, we may terminate the advisory relationship and close the account or initiate the steps required to convert it to a commission-based brokerage account. In some circumstances, we may waive the minimum account size requirement based on our assessment of your circumstances.”
On waivability: “In some circumstances, we may waive the minimum account size requirement based on our assessment of your circumstances.”
Minimum investment and what it would cost
| Program | Minimum investment | Annual fee at that minimum | Waivable? |
|---|---|---|---|
| Personal Portfolios Wrap Program (Managed Account Strategies/SMA/Core, Guided UMA/UMA/UMP, Advisor Select/AMP/FMP) (lowest-minimum strategy) | $25,000 | $500 | Yes, at the firm’s discretion |
| Personal Portfolios Wrap Program (Managed Account Strategies/SMA/Core, Guided UMA/UMA/UMP, Advisor Select/AMP/FMP) (highest-minimum strategy) | $500,000 | Varies by strategy | Yes, at the firm’s discretion |
| Source: Personal Portfolios Wrap Program, Form ADV Part 2A – Appendix 1 (Brochure), U.S. Bancorp Advisors, LLC, July 31, 2026 | |||
The $25,000 low end (Core/Advisor Select/AMP/FMP tiers) at US Bancorp’s disclosed first marginal tier (First $250,000 at 2.00%): $25,000 x 2.00% = $500.
U.S. Bancorp Investments’ own fee schedule at other balances
| Account balance | Annual fee |
|---|---|
| $250,000 | $5,000 |
| $500,000 | $9,500 |
| $1,000,000 | $17,500 |
| $2,000,000 | $31,000 |
What else to know
U.S. Bancorp Advisors’ Personal Portfolios programs carry minimums ranging from $25,000 (its core/advisor-select tiers) up to $500,000 (its Unified Managed Account tier), depending on which strategy a client selects. The firm states it does not apply a separate minimum annual fee to these accounts.
What a larger account would cost
The minimum is only the entry point. On a $500,000 account, U.S. Bancorp Investments’ own published fee schedule runs $9,500 a year; see the full dollar breakdown from U.S. Bancorp Investments’ own fee disclosure across several account sizes.
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- Personal Portfolios Wrap Program, Form ADV Part 2A – Appendix 1 (Brochure), U.S. Bancorp Advisors, LLC (July 31, 2026): https://www.usbank.com/dam/en/documents/pdfs/wealth-management/Personal-Portfolios-wrap-program-form-adv-part-2A-brochure.pdf
- SEC Investment Adviser Public Disclosure, U.S. Bancorp Advisors, LLC (CRD #14455): https://adviserinfo.sec.gov/firm/summary/14455
- U.S. Bancorp Advisors, LLC, SEC Form ADV filing: https://reports.adviserinfo.sec.gov/reports/ADV/14455/PDF/14455.pdf
Methodology. This page was built September 23, 2026, quoting directly from U.S. Bancorp Investments’ 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.
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