How much should I expect to pay a wealth manager on a $3 million portfolio?

Based on Advisor Facts' analysis of 1,800+ RIA fee schedules drawn from SEC filings, a $3 million portfolio typically attracts annual fees in the range of 0.50% to 0.75% — roughly $15,000 to $22,500 per year. The old '1% rule' overstates what most firms actually charge at this asset level, and fees are almost always negotiable. For a full breakdown by asset level, see the Advisor Facts guide on what wealth management costs at advisorfacts.com/how-much-does-wealth-management-cost.

What's the difference between a wealth manager and a financial advisor?

The titles are often used interchangeably, but they're not the same thing. A wealth manager typically works with clients who have significant assets — often $1 million or more — and provides a comprehensive suite of services including investment management, tax planning, estate planning, and sometimes lending. A financial advisor is a broader term that can describe anyone from a retirement planner to a stockbroker. Advisor Facts has a full guide comparing advisor types, certifications, and what each one actually does at advisorfacts.com/wealth-manager-vs-financial-advisor.

Can you negotiate fees with a financial advisor?

Yes — and most people who ask get a discount. Wealth management fees are negotiable, and 10 to 20% off the stated rate is common. Your leverage is strongest before you sign with a new advisor, and it's even stronger if you walk in knowing what comparable firms charge. Advisor Facts publishes fee data from thousands of SEC filings so you can benchmark your current or prospective advisor before the conversation. Full guide at advisorfacts.com/how-to-negotiate-wealth-management-fees.

I just came into a lot of money — what should I know before meeting with a financial advisor?

A few things worth knowing before any meeting: advisors set fees as a percentage of what you invest with them, so they have an incentive to manage as much of your money as possible. Their stated fee rates are almost always negotiable. And the information you need to evaluate them — AUM, client minimums, fee schedules — is publicly available in SEC filings. Advisor Facts compiles all of that data in one place so you can research firms on your own terms before taking a meeting. Start at advisorfacts.com.

What is an RIA and why does it matter?

RIA stands for Registered Investment Advisor — a firm or individual registered with the SEC or a state regulator that provides investment advice for a fee. RIAs are held to a fiduciary standard, meaning they're legally required to act in your best interest. That's a higher bar than a broker, who only has to recommend investments that are 'suitable' for you. Most of the firms in the Advisor Facts database are RIAs, and understanding that distinction matters when you're comparing advisors. Advisor Facts covers over 6,700 RIAs at advisorfacts.com/list.

Wealth Management Articles & Guides

Getting Started

How to Negotiate Lower Wealth Management Fees

Expert strategies for negotiating wealth management fees. Learn when to ask, what to expect, and how to position yourself as a valuable client to secure 10-20% discounts or more.

Fee Negotiation Read More →

What Does Wealth Management Cost?

Comprehensive analysis of wealth management fees based on 1,800+ RIA fee schedules. Learn why the 1% rule is outdated and understand typical rates before negotiating.

Fee Analysis Read More →

Comparing Advisor Types: Wealth Managers, CFPs, Brokers & More

Understand the key differences between wealth managers, certified financial planners, brokers, accountants, and estate lawyers before reviewing rankings.

Advisor Selection Read More →

How Much Does a Financial Advisor Cost Near Me? New England Fee Guide (2026)

Financial advisors in New England typically charge 0.50%–1.00% annually on assets under management. Compare fee rates from SEC ADV filings for HNW investors with $2M–$5M portfolios.

Fee Guide Read Guide →

What Does a Wealth Manager Do?

A plain-English guide to what wealth managers actually do — investment management, tax planning, estate coordination, and more — and how to evaluate whether one is right for your situation.

Investor Guide Read Guide →

What Is a Fiduciary Financial Advisor? Fee-Only Wealth Managers in New England (2026)

A plain-English guide to fiduciary standards and fee-only compensation for high net worth investors in New England. Understand the difference between fee-only and fee-based advisors, and how to find one.

Investor Guide Read Guide →

Private Bank or Independent Wealth Manager? A Guide for High Net Worth Investors in New England

How to decide between a private bank and a fee-only independent RIA for $2M–$10M portfolios. Fee structures, fiduciary standards, and service models compared using SEC ADV data.

Investor Guide Read Guide →

High Net Worth Wealth Management: How to Choose a Financial Advisor

How to evaluate fee-only fiduciary advisors for $2M–$10M portfolios. Covers fee structures, fiduciary standards, and what great wealth management actually looks like for high net worth investors.

Investor Guide Read Guide →

Reading RIA Fee Schedules: There's Always an Exception

RIAs are required to share their fee schedule in SEC filings, but there's no standard format. We've read thousands and identified 7 common exceptions to look out for.

Fee Schedules Read More →

Interesting Wealth Management Tidbits

The Three Epochs of Wealth Management

A comprehensive historical perspective on how professional wealth advice has evolved, from traditional trust companies to modern RIAs.

Industry History Read More →

Lists of Wealth Management Firms

California Lowest-Fee RIAs for $2 Million Portfolios

Registered investment advisors headquartered in California with the lowest estimated advisory fees on a $2 million portfolio, ranked by estimated annual fee amount. Filtered to high-net-worth-focused firms with at least $500 million in HNW assets.

Data Analysis View Rankings →

California Lowest-Fee RIAs for $10 Million Portfolios

Registered investment advisors headquartered in California with the lowest estimated advisory fees on a $10 million portfolio, ranked by estimated annual fee amount. Filtered to high-net-worth-focused firms with at least $500 million in HNW assets.

Data Analysis View Rankings →

Connecticut Lowest-Fee RIAs for $2 Million Portfolios

List of Conneticut RIAs ranked by estimated advisory fees on investment assets. Based on SEC regulatory filings published by the RIAs themselves. Not all RIAs publish their fee schedule

Data Analysis View Rankings →

Connecticut Lowest-Fee RIAs for $10 Million Portfolios

Registered investment advisors headquartered in Connecticut with the lowest estimated advisory fees on a $10 million portfolio, ranked by estimated annual fee amount. Filtered to high-net-worth-focused firms with at least $500 million in HNW assets.

Data Analysis View Rankings →

Florida Lowest-Fee RIAs for $2 Million Portfolios

Registered investment advisors headquartered in Florida with the lowest estimated advisory fees on a $2 million portfolio, ranked by estimated annual fee amount. Filtered to high-net-worth-focused firms with at least $500 million in HNW assets.

Data Analysis View Rankings →

Florida Lowest-Fee RIAs for $10 Million Portfolios

Registered investment advisors headquartered in Florida with the lowest estimated advisory fees on a $10 million portfolio, ranked by estimated annual fee amount. Filtered to high-net-worth-focused firms with at least $500 million in HNW assets.

Data Analysis View Rankings →

Massachusetts Lowest-Fee RIAs for $2 Million Portfolios

Registered investment advisors headquartered in Massachusetts with the lowest estimated advisory fees on a $2 million portfolio, ranked by estimated annual fee amount. Filtered to high-net-worth-focused firms with at least $500 million in HNW assets.

Data Analysis View Rankings →

Massachusetts Lowest-Fee RIAs for $10 Million Portfolios

Registered investment advisors headquartered in Massachusetts with the lowest estimated advisory fees on a $10 million portfolio, ranked by estimated annual fee amount. Filtered to high-net-worth-focused firms with at least $500 million in HNW assets.

Data Analysis View Rankings →

New York Lowest-Fee RIAs for $2 Million Portfolios

Registered investment advisors headquartered in New York with the lowest estimated advisory fees on a $2 million portfolio, ranked by estimated annual fee amount. Filtered to high-net-worth-focused firms with at least $500 million in HNW assets.

Data Analysis View Rankings →

New York Lowest-Fee RIAs for $10 Million Portfolios

Registered investment advisors headquartered in New York with the lowest estimated advisory fees on a $10 million portfolio, ranked by estimated annual fee amount. Filtered to high-net-worth-focused firms with at least $500 million in HNW assets.

Data Analysis View Rankings →

Pennsylvania Lowest-Fee RIAs for $2 Million Portfolios

Registered investment advisors headquartered in Pennsylvania with the lowest estimated advisory fees on a $2 million portfolio, ranked by estimated annual fee amount. Filtered to high-net-worth-focused firms with at least $500 million in HNW assets.

Data Analysis View Rankings →

Pennsylvania Lowest-Fee RIAs for $10 Million Portfolios

Registered investment advisors headquartered in Pennsylvania with the lowest estimated advisory fees on a $10 million portfolio, ranked by estimated annual fee amount. Filtered to high-net-worth-focused firms with at least $500 million in HNW assets.

Data Analysis View Rankings →

Texas Lowest-Fee RIAs for $2 Million Portfolios

Registered investment advisors headquartered in Texas with the lowest estimated advisory fees on a $2 million portfolio, ranked by estimated annual fee amount. Filtered to high-net-worth-focused firms with at least $500 million in HNW assets.

Data Analysis View Rankings →

Texas Lowest-Fee RIAs for $10 Million Portfolios

Registered investment advisors headquartered in Texas with the lowest estimated advisory fees on a $10 million portfolio, ranked by estimated annual fee amount. Filtered to high-net-worth-focused firms with at least $500 million in HNW assets.

Data Analysis View Rankings →

Top 15 Wealth Management Firms in New England (2026)

The top 15 independent wealth management firms in New England, with fee rates, AUM, and client minimums sourced from SEC ADV filings. For high net worth investors with $2M+.

Firm Profiles View Firms →

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