<prompt> Human: I know a lot of people arent fond of big banks, but the bank that I go to in particular has always been great to me, and Im rather partial to them. That said, I feel like if I understood better the options that were available, I would perhaps be able to find something better.The financial adviser at my bank recommended getting started with the American Funds Balanced Portfolio. The expense ratio is .82 and a one time up-front sales charge of 4.75. My understanding is that this is the cost of doing business -- basically how much its going to cost to keep this account open on a yearly basis.Following some other links in this subreddit, .82 seems a bit heavy compared to Vanguard and some others. Vanguard also seems to have no sales charge whatsoever. It seems pretty clear that Vanguard is a much better deal in terms of less money being spent.---But is that all there is to it? I understand that I am paying for experience: professionals that have been dealing with stocks for years, and have a track record of making profitable decisions. While I do understand and hold value in that, I would like to know if I can get that comparable level of experience in mutual funds elsewhere, and pay less money overall to get it.Any comments, corrections or suggestions are greatly appreciated!  <response>: Its just a waste of money. If all you want is a balanced portfolio just pick an index fun at vanguard. This financial adviser will be doing essentially the same thing just with making a few more mouse clicks to justify their enormous charge. 