Hello all, I'm looking to change my investments from Fidelity to a local group that a trusted friend of ours uses. They seem to have good luck with them and the advisor wont charge us a direct fee for his services since they have a long standing relationship without friends and their parents and grandparents. They believe they are a fiduciary and not just a financial advisor. At Fidelity I had a roll over 401k that was in a time targeted fund. The funds the advisor likes to use are with Capital Group. The fund fees are 5.75 for the initial deposit and no more since its less than 25k invested. When I was using Fidelity I didnt have a fee that was known to me. I monitor my grandmothers Edward Jones account and she had a 401k and roth IRA and the only fees she had were with her managed account. What is expected for fees and what is high or low? This is something that I am not to familiar with and researching it doesn't give much information or I am not searching right.
How does Fidelity or Edward Jones get paid if they dont charge a fee? Are they hidden? Do they charge only when the account reaches a certain amount?