What does US Bank Wealth Management do?
US Bank Wealth Management provides advisor-led investment management and financial planning for individuals and families who want personalized guidance rather than a digital or DIY platform. The service is delivered through US Bancorp Investments, an SEC-registered advisory firm owned by US Bancorp.
Clients work with financial advisors to develop long-term strategies covering investments, retirement, estate planning, and charitable giving. Portfolios are built using diversified, non-proprietary investment products tailored to each client’s goals and risk profile.
The platform also integrates trust and estate services, banking and lending solutions, and insurance planning. For discretionary management, US Bank offers Managed Account Solutions, where investment decisions are handled on the client’s behalf under a wrap-fee structure.
What are the pros and cons of US Bank Wealth Management?
US Bank Wealth Management offers an advisor-led model with multi-tiered services that range from collaborative investing to support for ultra-high-net-worth (UHNW) individuals.
Its strengths include personalized guidance and access to banking, lending, trust, and estate specialists, creating a full service for clients with more complex financial needs.
However, the service has high fees under its MAS program, and most offerings are tailored toward wealthier clients, which limits accessibility for investors with smaller portfolios.
The pros of US Bank Wealth Management:
Multi-tier service levels tailored to client wealth and complexity: The platform offers four distinct service categories, which are collaborative investing, wealth management, private wealth services, and ultra high net worth. Each tier offers a different depth of advisor support and specialized services.
Clear, tiered service structure with defined eligibility levels: US Bank has four service tiers, which are Wealth Connect, Wealth Management, Private Wealth Services, and Ascent Private Capital Management, each with set asset or net-worth thresholds. This allows clients to understand which level they qualify for and the type of advisor support they’ll receive.
Access to dedicated advisors and multidisciplinary teams: Clients receive one-on-one advice from wealth professionals and, at higher tiers, work with specialists across investments, credit, estate planning, and philanthropy.
Strong integration with US Bank’s banking and lending services: It combines investment advice with specialized credit solutions, tailored banking, and trust and estate services.
Availability of both advisor-led and DIY options: Although not part of Wealth Management directly, US Bank also offers DIY investing accounts, allowing clients to choose a low-cost option if they do not require advisor-led services.
The cons of US Bank Wealth Management:
High advisory fees for the wrap fee structure: Fees for the MAS program range from 1.1% to 2%, depending on your assets, which is significantly higher than other advisory platforms.
Many service tiers have set asset and net worth requirements: US Bank has eligibility thresholds for different service levels, including minimum investment amounts for Wealth Connect and Wealth Management, and multi-million-dollar net worth ranges for Private Wealth and Ascent family office services.
Wrap fee pricing doesn’t include all underlying investment costs: The wrap fee covers advisory, brokerage, and custody services, but clients are responsible for extra expenses such as fund operating costs, manager fees, and other charges, which vary based on the selected investments.
Advisor-led structure may not align with DIY or low-cost investors: Although US Bancorp Investments offers a DIY investing option, the Wealth Management service is advisor-led and is more expensive than digital or DIY alternatives.
The main drawbacks of US Bank Wealth Management are its higher advisory fees, asset and net worth requirements, and limited availability of detailed pricing information online.
The wrap fee structure also doesn’t cover all underlying investment expenses, which vary depending on the products. While US Bank offers DIY investing, the Wealth Management service is primarily advisor-driven and follows a more traditional, higher-cost model.
US Bank Wealth Management fees: how much does it cost?
US Bank Wealth Management uses a tiered, asset-based pricing structure through its MAS program. The service charges a wrap fee as a percentage of assets under management (AUM), beginning at 2% for the first asset tier and decreasing for larger balances.
These fees cover advisory, brokerage, and custody services, with extra investment costs charged separately.
US Bank also provides a separate DIY investing platform that charges $4.95 per trade after the first 100 free trades each year, with no minimum investment required.
US Bank Wealth Management fees
| Assets under management (AUM) | Maximum portfolio fee |
|---|---|
| First $250,000 | 2% |
| Next $250,000 | 1.8% |
| Next $500,000 | 1.6% |
| Next $1 million | 1.35% |
| Amounts over $2 million | 1.1% |
The wrap fee includes advisory, brokerage, and custody services. It doesn’t include underlying investment expenses such as mutual fund operating charges, manager fees, or product fees.
US Bank Wealth Management relies on a traditional advisor-led pricing model, with costs that decrease as assets increase and additional investment expenses that vary by product.
The company also has a DIY platform with a transaction-based model, offering a lower-cost alternative for clients who prefer to manage their portfolios independently.
What is US Bank Wealth Management’s minimum account size?
US Bank offers several wealth management service tiers, each with its own eligibility threshold.
Entry-level tiers start at $25,000 in assets, while higher-tier services require substantially more, including multimillion-dollar investments for Private Wealth and Ascent clients.
For investors who prefer to manage their own portfolios, US Bank also provides an investing platform with no minimum investment required.
US Bank minimum requirements by service tier
| Service tier | Minimum requirement |
|---|---|
| Wealth Connect | $25,000+ in investments. |
| Wealth Management | $100,000+ in investments or total balances from $250,000. |
| Private Wealth Services | $3 million–$75 million net worth. |
| Ascent Private Capital Management | $75 million+ net worth. |
| Self-directed investing | No minimum investment required. |
US Bank’s advisor-led services have progressively higher asset thresholds, starting at $25,000 for entry-level advice and rising to multimillion-dollar net worth requirements for Private Wealth and Ascent clients.
These levels mean that the core Wealth Management offering is best suited for investors with meaningful assets or more complex financial needs.
The DIY investing platform requires no minimum investment, providing a more accessible option for individuals who prefer a lower barrier to entry to invest with US Bank.
Who should choose US Bank Wealth Management?
US Bank Wealth Management is suitable for clients who want advisor-led guidance, coordinated financial planning, and access to banking, lending, and trust specialists within a single institution.
US Bank Wealth Management works well for:
Clients seeking personalized, advisor-led guidance: Those who prefer talking with a financial advisor, rather than managing investments independently, may benefit from the firm’s one-on-one or team-based support structure.
Households with meaningful assets or more complex needs: The platform offers many services, and clients with higher balances or multi-million-dollar net worth can access more specialized support, including private wealth and family office services.
Investors who want integrated banking, lending, and trust solutions: Clients who want investment management, credit, cash management, trust services and estate planning coordinated under one provider may find the structure appealing.
Individuals planning for long-term goals: The advisor-led model supports retirement planning, wealth transfer considerations, and charitable strategies, which can be useful for clients focused on many financial goals.
Clients who prefer discretionary portfolio management: For those who want to delegate day-to-day investment decisions, the MAS program offers a professional discretionary management option.
US Bank Wealth Management may not benefit:
Cost-sensitive investors: The MAS wrap fee starts at 2%, which is higher than many low-cost advisory or digital alternatives.
Clients who prefer DIY or digital-first investing: While US Bank offers a separate DIY platform with no minimum and low trading costs, the Wealth Management service is advisor-driven and follows a traditional fee model.
Individuals with small investable balances: Entry points for Wealth Connect and Wealth Management begin at $25,000 and $100,000 (or total balances of $250,000), while higher-tier services require multi-million-dollar net worth, meaning the advisory model is not accessible for some investors.
Active traders: The advisor-led framework and managed account structure are not designed for frequent traders or those wanting full control over their investments.
US Bank Wealth Management: Is it secure?
US Bank Wealth Management has the same security infrastructure used across US Bank’s digital services, including multiple protections for client information, online activity and financial accounts.
The bank’s security center has a multilayered approach, including encryption, account alerts and tools to help clients recognize and report suspicious activity.
US Bank has many measures to protect customer data and accounts, including being able to set up a mobile device, update your password, and enable notifications to stay informed about your login history or unusual activity.
It also provides guidance on spotting scams, identifying signs of identity theft and reporting suspicious behavior.
Accounts held through US Bancorp Investments are covered by the Securities Investor Protection Corporation (SIPC) up to $500,000, including $250,000 for cash, in the event the brokerage fails, but this does not protect against market losses.
The bank also offers educational tools on fraud prevention, digital payment scams and cyber-safety practices, helping clients stay proactive about their security online.
The security practices by US Bank are consistent with those used by other major financial institutions.
US Bank Wealth Management: Customer service
US Bank Wealth Management offers access to advisor support and other customer service channels, including phone assistance, secure messaging and online help resources.
Clients can reach advisors by phone, email or video when they need advice. US Bank also offers dedicated service areas, including a Wealth Management customer service section, to help direct clients to the right place for account or planning questions.
The support varies by service tier. Wealth Connect and Wealth Management clients typically work with an advisor team during standard business hours, which is suitable for routine planning and investment questions.
Private Wealth clients receive a more personalized experience, including a dedicated advisor and 24/7 on-call support, while Ascent clients have access to a multi-disciplinary team that provides family office support.
US Bank Wealth Management: Mobile app
US Bank Wealth Management doesn’t have a standalone app. Instead, clients access their portfolios through US Bancorp Investments’ mobile app, which has investment features and standard banking tools.
Clients can monitor their portfolio’s performance online and through the US Bank mobile app. They can also view account balances, holdings and transaction history, monitor open orders and access quotes and market news, so clients can stay connected while on the go.
The app focuses on essential account access and trading functions rather than advanced planning dashboards or advisor collaboration tools.
For clients who prefer a single interface for both banking and investment activity, US Bank’s mobile app offers an easy way to review portfolio performance and access investment information.
Is US Bank Wealth Management worth it?
Whether US Bank Wealth Management is worth it depends on what you need advice on and how you want to be supported.
For those who prefer advisor-led planning and the ability to manage banking and investment needs within one institution, it offers structured support, tiered levels of engagement and access to financial professionals.
Entry begins with the Wealth Connect tier at $25,000, followed by Wealth Management at $100,000–$250,000, with Private Wealth and Ascent designed for clients with multimillion dollar net worth.
Its service tiers, which span from guidance to highly personalized support, provide increasing levels of engagement as client needs become more complex.
However, investors seeking low-cost solutions or a digital-first experience may find the MAS program less appealing, as advisory fees begin at 2%. While advisor access is a core feature, clients who want lower fees, extensive customization or a technology-driven platform may consider alternatives that focus more on digital tools or lower costs.
For investors weighing other full-service wealth management options, firms such as Baird Wealth Management, RBC Wealth Management and Bank of America Wealth Management offer similarly broad planning and investment services with experienced advisor support. Those seeking more accessible, hybrid or digital-first guidance might also explore services like Empower Personal Strategy, SoFi Automated Investing or Schwab Intelligent Portfolios Premium for a blend of automated investing and planning support at typically lower cost and with flexible access to advice.
Get expert financial advice
If you need expert financial advice, Unbiased can match you with a financial advisor who will help you manage your money and maximize your investments.