Quote:
Originally Posted by MikePgh
There is no clear answer. Most fee only (charging a % on AUM) will buy no load funds for your portfolio. But just because it is a no load fund that does not mean they are not getting paid. There is what is known as a 12b-1 fee that the fund company can share with the advisor.
Dual registered advisors (registered as an advisor and a broker) will usually charge a lower AUM fee but also churn your portfolio to collect more load fees.
Hope that helped.
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I don't pay any AUM, load, or 12b-1 fees. I only buy indexed mutual funds with no loads or 12b-1 fees. Investing is too important to trust a financial advisor or a mutual fund manager.