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<I recently transferred my sep assets from a mutual fund to a self-directed account with First Trust. Having taken this first step, I am not sure about the best approach for the next step, i.e. investing the money. The total value is in the neighborhood of $ 45-50,000 and represents two years worth of contributions. I am interested in the IFG screen but with 40 trades per year with a commission of $55 per 100 share trade, I suspect that I would be better off with an approach that involved much less turnover,>

You might be better off with a broker with less commissions. Ameritrade now has (Internet) commissions of $8.00/trade irrespective of the price or number of shares. $55/100 shares is just awful. You would need to look at full-price brokers to pay more.
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