Is charging $5000.00 too much to open an account with a investment firm? And then charge 1.5% to manage your account.
Terry Says: That is absolutely RIDICULOUS! Don’t put your money there — wherever “there” is! Just go to Fidelity.com or Vanguard.com or TRowePrice.com. They each have toll-free numbers as well as a website, and they can tell you how to open an account — and advise you on which fund to use, depending on your goals.