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You Don't Have to Pay Big Fees to Make Small Investments
| Related Story |  |
| Twin Fidelity Destiny Funds Experience Diverging Destinies |
Brokers who sell mutual funds through contractual investment plans will be the first to tell you these plans are a great way to get started because investors can get in for as little as $50 a month.
Unfortunately, these plans also are accompanied by exceedingly high sales charges that can take up to half of your first year's investment and somewhere between 8% and 12% over the life of the plan. That's money only the broker benefits from.
Among the better known funds sold through contractual plans are Fidelity's (FDESX Quote)Destiny I and (FDETX Quote)Destiny II, Aim's (SMMIX Quote)Summit plan and Franklin Templeton's (TECAX Quote)Capital Accumulator. ...
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