After too many years of paying an AUM fee, I'm transferring all holdings to a brokerage and switching to a simple BH 3-fund portfolio. I've noticed that the big brokerages like Fidelity etc have no-fee brokerage accounts in which ETFs and most mutual fund purchases are free. They charge fees for services I don't plan to use, such as placing trades in person, foreign exchange, etc; and of course I expect them to try to convince me to pay for their advisory services. Generally, when a consumer service is free, either there are hidden "gotcha" fees, or the consumer is the product, or both. So what is the case with these brokerages? What are the "gotcha" fees, if any, and how am I going to be the product?
Statistics: Posted by snic — Tue Mar 12, 2024 8:00 am — Replies 0 — Views 1