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Is this a typical fee? How can she set up a ROTH IRA with direct monthly deposits that is automatically invested in mutual funds of her choice without paying this financial advisor to do nothing more than a bit of paperwork and cheerleading?

Maybe if you use a financial advisor. Personally I wouldn't pay it.

Pretty easily once she has the minimum for some funds. Some of the popular funds have a $1K minimum for IRAs but there can be annual fees until you reach a certain level. I'd look around - Vanguard, T Rowe Price are 2 places I can think to look at the moment. There used to be a site with mutual funds with low minimums but I haven't looked for it for a couple of years but I'll see if I can come up with it(if it still exists).

Another option is ETFs bought through a discount brokerage which may be a cheaper way to start.

rad
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