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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

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?

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