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U.S. Bank Advisor Review

U.S. Bank is one of the largest banks in the world. In this guide, we take a look at its wealth and investment advisory services.

U.S. Bank is the fifth-largest bank in the world. It offers a wide variety of services, including banking, investment accounts and management, wealth management, credit cards, and mortgages. In J.D. Power’s 2023 Investor Satisfaction Study, the company cracked the top 20, above firms like Northwestern Mutual and Morgan Stanley.

The institution’s wealth and investment management offering makes up 18% of its revenue. In this guide, we’ll take a look at what this service includes and how it works. This includes a breakdown of its account minimums and fees. You’ll also learn about the company’s investment philosophy, disclosures, and how you can open an account.


$681 billion

Number of Employees


Date Founded

July 13, 1963


Andrew Cecere

Fee Structure


Headquarters Address

800 Nicollet Mall, Minneapolis, Minnesota

Phone Number

(844) 753-1321

Pros and Cons of U.S. Bank


  • Offers wealth management solutions, including for ultra-net-worth clients
  • Has a robo-advisor option
  • Initial consultation is free
  • Upholds a fiduciary duty


  • High account minimums to work with a financial advisor
  • Fees are non-negotiable

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Types of Clients U.S. Bank Serves

U.S. Bank’s advisory and investment management services cater to a wide variety of clients. Its account minimums range from $1,000 for automated investing to $3 million or more for private wealth management. In the table below, we break down each account type and the initial investment it requires:

Account TypeMinimum Investment
Self-directed investingN/A
Automated Investor$1,000
Comprehensive Wealth Management$100,000
Private Wealth Services$3,000,000
Family Office Services$75,000,000+

Be aware that, on top of your initial investment, you must also pay advisory fees. Additionally, you may also need to pay for transaction or fund management costs associated with securities you or a professional buy.

Financial Advisor Services

U.S. Bank provides four major types of financial advisor services for clients. The tier you’ll gain access to depends on your initial investment. Each tier has varying services. The first one refers to strictly online services; however, you may still receive guidance from a robo-advisor. With the other three, you’ll be able to utilize a singular wealth specialist or an entire team of them, depending on the tier you fall into.

Below is a more specific outline of what each program has to offer:

Online Investing

In this tier, you’re able to take advantage of U.S. Bank’s robust investment management tools. For those looking for a DIY approach, you can open an account without an initial deposit. However, a $1,000 investment will grant you a robo-advisor via the Automated Investor option. This approach means an automated manager will build and monitor your portfolio on your behalf.

Keep in mind that the self-directed option gives you access to more investment options, such as stocks, options, exchange-traded funds (ETFs), and mutual funds. Meanwhile, the Automated Investor option only allows you to invest in low-cost ETFs. Both allow you to speak with an investment professional for assistance, however.

Comprehensive Wealth Management

An initial investment of at least $100,000 gets you wealth management and planning services. This includes assistance from a dedicated advisor, as well as insights from a wealth team. U.S. Bank’s professionals can assist you with:

  • Wealth management banking
  • Wealth planning
  • Trust creation and administration
  • Investments
  • Insurance

By opting for U.S. Bank’s Wealth Management service, you also stand to receive several other benefits, such as:

  • Waived transaction fees
  • Increased check deposit and ATM withdrawal limits
  • No monthly maintenance fees for savings and checking accounts
  • Better lending and deposit rates
  • “Custom credit products,” such as “liquid asset secured loans”

Private Wealth Services

For those with assets of $3 million to $75 million, U.S. Bank offers Private Wealth Services. This tier provides you with a dedicated wealth advisor, as well as a team of experts, such as tax and legal professionals, to help you plan and structure each aspect of your finances. This includes the following:

  • Wealth planning
  • Investment management
  • Banking
  • Business planning
  • Trust administration
  • Estate planning
  • Charitable giving
  • Insurance
  • Specialty asset management

Family Office Services

Clients with $75 million or more in investable assets will be able to work with U.S. Bank’s Private Capital Management arm, Ascent. At this level, the firm will work directly with you and leverage its resources to help you manage your money and, if you’d like, make a philanthropic impact around the world.

Fee Structure

U.S. Bank’s fee structure depends on the service you’re getting. According to the firm’s Form ADV 2A, there is no fee for financial planning services. However, for the company’s investment management and advisory, you can expect to pay transaction fees and commissions. Automated Investor charges $0.20 a month for every $1,000 you invest, as well as a 0.24% annual advisory fee. Self-directed investing requires you to pay $4.95 per stock or ETF trade.

U.S. Bank’s Investment Philosophy

The investment philosophy you can expect a U.S. Bank advisor to follow depends on the service you choose, as well as your goals and risk tolerance. If you opt for wealth management, your expert should help you build your portfolio according to your objectives and needs. Automated Advisor, however, follows a stricter guideline as it selects investments on your behalf, including:

  • Asset allocation. This risk management strategy refers to evenly distributing your funds across several asset classes, including cash, equities, fixed-income, and real assets.
  • Diversification. Like asset allocation, this refers to including a wide range of different securities within your portfolio to mitigate risk.
  • Portfolio construction. U.S. Bank’s Automated Investor prioritizes low-cost ETFs that align with your goals as it builds your portfolio.
  • Glide path. This is an adjustment to your portfolio due to “risk” during a client’s time horizon (time needed to hit a goal).
  • Tax efficiency. As your portfolio grows, you’ll need to pay taxes on your returns. Automated Investor will utilize tax-loss harvesting techniques to minimize the burden on your earnings.


U.S. Bancorp Investments, Inc. (known as U.S. Bank) is registered with the SEC and FINRA as both a broker and investment advisor. Both authorities require the firm to report any disclosures, which refer to any relevant information about the firm.

Per FINRA’s BrokerCheck, U.S. Bank has 25 disclosures, 14 of which are regulatory actions involving the company or any of its representatives. One of which involves the firm being held accountable for not reporting positions on its Large Options Position Report (LOPR), as well as failing to maintain a proper supervisory system to identify and correct the issue. However, unlike some other firms, neither U.S. Bank nor any of its advisory affiliates have ever pled guilty or been charged with a felony.

Customer Service

Whether you have an account issue or a question about the services you’re receiving, U.S. Bank offers several points of contact, including:

How to Get Started with U.S. Bank

You can get started with U.S. Bank’s wealth and investment management by visiting the company’s website or calling (877) 323-1637 to schedule a consultation. If you do go online, you can use the firm’s advisor search tool to locate a professional near you that’ll fit your asset range.

At your initial consultation, which is complimentary, a professional will look to gain an understanding of your finances so they can better assist you. So, you’ll want to make sure you have a good handle on what your goals are, as well as how your current situation looks.

Tips for Choosing a Financial Advisor Firm

Selecting a financial advisor firm is an important choice. The person or company you decide to go with could be what you’ll be working with for several years. Whatever company you choose, it’s critical that it aligns and supports your current financial situation and goals.

A key element you should focus on is what a firm requires you to deposit to open an account. Some are quite steep, while others only need as little as $1,000, such as U.S. Bank for its automated investment advisor services. A firm’s fees are also important. Most companies offer a structure in which fee percentages diminish or rise based on the assets you have. Others, however, may also charge transaction fees or commissions.

To jumpstart your research for an advisor firm, we recommend using this free matching tool. Once you fill out a short quiz, it’ll present you with up to three vetted fiduciary options in your area.


This review is based on publicly available information directly from U.S. Bank’s website, the SEC, and FINRA. Neither the firm nor its representatives have any say on what we’ve included on this page.

Frequently Asked Questions

How much is an initial consultation with U.S. Bank?

Initial consultations with a U.S. Bank advisor are free of charge. Additionally, you may meet with a professional either virtually or in person, depending on your preference.

Are U.S. Bank advisors fiduciaries?

U.S. Bancorp Investments Inc. is registered with the SEC as an investment advisor. This status requires the company, as well as its representatives, to act as a fiduciary. Therefore, any time your advisor is giving you advice or making a recommendation, it must be in your best interest.

Is U.S. Bank’s advisory fee negotiable?

U.S. Bank charges an annual advisory fee of 0.24% for its Automated Investor service. Unfortunately, this fee is non-negotiable.