When I first started out in my adventure as an investor, I like many, thought I would do well with a large well-named firm. At that time, I went with a broker who a friend recommended. I later found out he was charging me a 2% fee. Left him. Currently, I am with a firm that only charges me when I make a transaction. They do not charge me a damn thing on my portfolio, which is currently primarily in double tax free bonds, like many firms still do. It does not make sense for an investment firm to make money on the funds I invest with them that they loan out and reap benefits; especially bond funds that move much slower than those funds that hold stock.