Well today, I made the time to actually sit down with my bank's (bofa) financial advisor for the first time in my life. I wanted to talk about opening up IRA account. He looked like he was in his 50's (caucasian). We first talked about what I wanted to do: Open either a tIRA or rIRA. We agreed upon that rIRA was better in my case (I'm 27 years old). I have been maxing out my 401k ever since I started working. Then we talked about how we want to invest the money in the IRA. I suggested that we go with a ETF. With the ETF (he recommended IVV), he said if I will deposit the $4000 all at once, the fee will be around $90. But I told him that dollar-cost averaging was better, he agreed. With monthly contributions of $335, I will also have to pay a fee of $40 per transaction. We agreed that this was unacceptable. We then suggested an index fund (mutual fund). They were all loaded funds (fee of around 5%). He didn't force me into opening an account. He said to come back when I am ready and he will give me more information about the mutual fund he will recommend. In between topics he was trying to explain to me the fundamentals of investing and how important it was for me to pay a professional to take care of my money. Overall he seemed like a nice guy. I don't know if it will be worth it with the mutual fund with all the fees involved... but he gave me a lot to think about. I still haven't decided yet but I wanted to share my experience with everyone here.