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rforno, In answer to your question. My account was established years ago at Edward Jones and as long as I buy A or C share mutual funds there is no wrap fee on the account or any other brokerage fees associated with this account. Should I buy an etf that has no 12b1 fee associated with it then the account becomes subject to a wrap fee at better than 1%. Therefore, I hold no etf's.
Generally, I buy C shares if I plan on holding the fund position for a short period of time and/or I don't choose to do a nav transfer from another fund to establish the new position.