A relatively new phenomenon in the mutual fund world are so-called fund supermarkets. These allow you to buy funds from several fund families for no or low transaction costs and to manage all your money in a single account. It’s a convenient way to get access to literally thousands of mutual funds from a single source.
The fund supermarkets are managed by some of the leading discount brokerage firms — financial companies that specialize in no-frills investment buying and selling services for individual investors. Such firms as Charles Schwab, Muriel Siebert, Jack White, and National Discount Brokers are among those running fund supermarkets. If you open an account with one of these firms, you’ll be able to buy and sell shares from a wide range of fund families; switch from one fund to another with ease, even if the funds are in different families; and receive information about all your accounts in a single statement.
No comments:
Post a Comment