If you go with Charles Schwab or Vanguard you can invest in no-load index funds. No management fees; total fees are well under 1%. If you want some advice, you can pay a flat fee with Schwab or Vanguard and have an advisor review your portfolio. Whenever you go to a full service broker like ML, they get you coming and going. There have been many studies done and actively managed funds almost never beat the market. You will save thousands upon thousands. I was with a full service broker and got fed up. I transferred everything to Schwab and I couldn't be happier. I recommend you read this book - "The Investor's Manifesto Preparing for Prosperity, Armageddon and Everying In Between" by Willam J. Bernstein. Good luck!
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