U.S. Bancorp Advisors, LLC

U.S. Bancorp Advisors, LLC provides investment advisory services through its Personal Portfolios Wrap Program to individuals (including high‑net‑worth clients), charitable organizations, businesses and retirement accounts. The firm offers wrap‑fee portfolio management—both discretionary and non‑discretionary—using model strategies, separately managed accounts, unified managed accounts and related brokerage and custody services.

USBA implements client strategies by combining third‑party Investment Managers, an Implementation Manager, and technology access to Fidelity’s FMAX platform to construct, rebalance and trade model portfolios; clients approve an initial asset allocation and may elect overlays for tax management or values‑based screens. Depending on the program, account management authority can reside with Investment Managers, USBA financial advisors, or the Implementation Manager, and the firm documents client objectives, restrictions and ongoing reviews to maintain suitability.

The firm is a subsidiary of U.S. Bancorp and an affiliate of U.S. Bank, and its affiliation with a banking institution informs several operational features that are less common among peers, including proprietary model portfolios developed by its affiliate Asset Management Group/USBI, custody and administrative linkages with National Financial Services and U.S. Bank, and the option to use account assets as collateral in lending arrangements. The brochure also highlights business practices atypical for many independent advisors—revenue‑sharing arrangements with product partners, use of an external implementation/overlay manager, and explicit inclusion of cash in assets under management (with advisor compensation on cash).