Multipotent mesenchymal stromal/stem cells (MSCs) have the potential to repair and regenerate damaged tissues, making them attractive candidates for cell-based therapies. Expanded and well-characterized MSCs have application in regenerative medicine and have been used in several clinical trials including osteoarthritis and other conditions, while the crude preparation of MSCs, the “stromal vascular fraction” (SVF) has also been subject to clinical trials. Here, we provide results of a comparative study of SVF and expanded MSCs from fat, placenta, and umbilical cord involving determination of phenotype by flow cytometry analysis and cellular potency by quantitative assessment of mitochondrial function and immunosuppression. Our results show substantial differences indicating that SVF does not achieve international standards of the stem cell phenotypic definition, nor cellular potency comparable to expanded and purified MSCs derived from fat, umbilical cord, or placenta.