FINRA is a Financial industry regulator.
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The Financial Industry Regulatory Authority (FINRA) is the largest independent regulator for all securities firms doing business in the United States. FINRA's mission is to protect America's investors by making sure the securities industry operates fairly and honestly. All told, FINRA oversees about 4,270 brokerage firms, about 161,765 branch offices and approximately 630,345 registered securities representatives.
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The Fund Analyzer offers information and analysis on over 18,000 mutual funds, Exchange Traded Funds (ETFs) and Exchange Traded Notes (ETNs). This tool estimates the value of the funds and impact of fees and expenses on your investment and also allows you the ability to look up applicable fees and available discounts for funds
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This tool will highlight part of the problem that is discussed in that Frontline story.
Try it yourself. It is very easy!
Go to Vanguard, Fidelity, T Rowe Price or other no-load fund companies web sites to identify some mutual funds or ETFs to compare against your current funds.
1) Go here:
Fund Analyzer
2) Plug in the two or three mutual fund symbols.
3) once you have all three funds selected, Then click the "show results" button.
4) Now change the money amount to an amount larger than $10k... $250k or $500k (so you can really see the affect over time)
5) Then change the number of years of the illustration to 20 years (the maximum length of time).
6) Look at the summary information section. Then study the tables.