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Greetings, Andrew, and welcome. You wrote:

My company currently uses a full-service brokerage for our SEP IRA's. With some work, I convinced my personal broker" to not invest in a 5.75% front-loaded fund because of the high commissions, and instead find a cheap S&P 500 index fund. One week later, he calls back and happily informs me my money is safe in an index fund that I had never heard of. He said "Don't worry, all index funds are the same." On further research, this fund ("Mainstay ..") has a 3% front-load and 1.05% annual fees, despite just tracking the index!

So here's the deal. I think I could convince the powers that be to switch away from the full-service
broker, if I could find a SEP IRA administrator with the following traits:
* automatic monthly purchasing
* a small list of diverse funds, for people who
aren't comfortable being self-directed
* low-commission brokerage services
* user-friendly

I currently use Waterhouse for my taxable investing. I'm not sure if they do SEPs, and they're not as
user-friendly as may be necessary for my non-Fool workmates. Does anyone know some other possibilities?

Schwab, Jack White, and USAA Brokerage Services all handle SEPs as I recall. I'm not familiar with any deep discounters that do, though. And as far as your present servicer goes, ain't it just sweet how he managed to find a load index fund for you? It's simply amazing how brokers can do so at every turn. I wonder if there's a message there.


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