Shwab and Fidelity may be two of the major players in the mutual fund business, but Dallas-based Mutuals.com has been described by one financial journalist as "the Wal-Mart of the Mutual Fund Business". This mutual fund supermarket is not new - it was founded in 1994 - but it offers more than 300 fund families and 10,600 individual funds and enables investors to buy, sell, track and monitor all funds on a daily basis.
Investors can choose between two distinct mutual fund buying services. The first is through the Personal Advisor Program, which tells fund buyers exactly which mutual funds to buy and uses a patent-pending process to select those funds. The second service is the Mutuals.com Superstore, which enables investors to purchase any mutual fund via the web. The huge number of mutual funds on offer include include Fidelity, Vanguard, AIM, Putnam, American, Evergreen, Oppenheimer, Franklin, Templeton, Janus and other major funds.
Mutuals.com is the only company in the US that has
obtained the legal and compliancy certifications to
sell all funds in all 50 states. It also differentiates
itself from others in the industry by waiving load
charges, commissions and trading fees, instead charging
a yearly 1 per cent management fee The company also
claims that every one of its clients benefits from
a personal financial advisor providing independent
and objective guidance without the conflict of interest
that exists with most other brokerages. CEO Richard
Sapio said: 'We offer totally unbiased advice as well
as access to every existing mutual fund. Our investors
know they have an unbiased mutual fund expert in their
corner, doing research and making recommendations.'
Investors can also access Mutual.com's research department to utilise electronic analysis tools, financial newspapers and magazines, independent research papers, SEC filings, corporate rating services, and other sources of data on mutual funds.
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