<prompt> Human: 3rd month viewing this thread but first time posting. Ive recently opened a Roth IRA account to have alongside my 401k investments. I will continue to contribute to both accounts but im wondering if 5.5 is standard per deposit. I also want to create a 529 plan for my daughter which is set around 4. I continually see people refer to Vanguard as a holy grail for investing so is this the way to go? Or is this something I should let my bank handle for a couple years to see if its worth the charge?Assistant: Your bank is probably charging you a 5.5 load fee for each purchase of mutual fund shares. This is ridiculous. Never pay a load fee if you dont have to - move to a low cost provider like Vanguard, Fidelity, or Schwab immediately.Please read the information found in the FAQ particularly I Have X ... What Do I Do With It?! and the Long-Term Investing Start-Up Kit You may find Your IRA and You: Basic Information and Your 401k and You: Basic Information worth a read as well.Human: The financial consultant explained in a way that the fee is used to pay the mutual fund managers to choose the best fund shares available which is what suckered me. Selling a ketchup popsicle to a woman in white gloves tactic.  <response>: The best fund shares available are precisely the ones that dont require managers to pick them. 