rhecker wrote: (I know Waterhouse has something they call "Periodic Investing" where they let you add as little as $100 a month or a quarter and it is automatically adding to an existing mutual fund position (a mutual fund in which you already own some shares). They probably have a small fee associated with this plan.)

This is what Waterhouse had to say when I questioned them about fees for monthly money transfers to my Roth IRA in which I would be purchasing shares in a mutual fund:

"You will incur our $24 transaction fee every time funds from your money
transfer initiates a new position in the mutual fund, however, if you decide
to invest in a mutual fund that belongs to our No-Transaction-Fee program
(NTF), you will incur no transaction fees. You can invest in over 1,100
funds with no-transaction-fees from popular fund families such as: Invesco
Funds, Stein Roe Mutual Funds, American Century, Scudder, Cohen & Steers,
and Strong Funds.

To see if the mutual fund you are interested in belongs in our NTF program,
please E-mail us again with the complete name of the fund or contact our
Fund Search Department at (800) 934-1292.

If you have any additional questions or comments, please E-mail us again or
call our Electronic Brokerage Customer Service Department at (800) 555-3875.

Thank you for choosing Waterhouse Securities."

Can Anyone Clarify what they mean by "new position"?

Also can someone tell me how to italicize text on this board?

Thanks