a bit off topic, but ETFs trade like stocks so if you want to invest, say, $1,000 in an ETF you'll pay $7.95 or whatever fidelity charges to do so. If you buy a fidelity mutual fund you won't pay a trading fee.
OP: I didn't realize your assets were so sizable. The concept remains the same BUT if you would really like to save on fees you can buy both ETFs and Mutual Funds. The funds will be where your automatic investments will go, but you can "park" existing invested savings into ETFs to be more tax efficient in your taxable account.
If you want to assume more risk, lower your bond percentage and increase your stocks. Also with your level of assets I'd suggest having both a US based index fund (most common) and a global excluding US fund.
Next, I'd strongly consider selling your employer stock if you're allowed to do so, particularly if it's in a retirement account (and therefore has no tax consequences). You're already too closely tied with your employer just by working there; there's no reason to make it worse and hold the stock longer than necessary. Is there a benefit to keeping it? (Discounted purchase program rules, trading clearance, whatever?)
Funds to consider:
FSTVX - domestic stock index
FSGDX - international stock index excluding US
FSIVX - international stock index
FSITX - domestic bond index
Look for the words "Spartan" and "Advantage class" for the lowest fees in Fidelity mutual funds. I would steer clear of international bond funds while you're just starting out because you expose yourself to much more than people realize. As you get comfy with the process feel free to jump in international bonds as well. As global interest rates rise your bond funds will likely start losing money from day 1 but fear not, no one can predict the future and by the time the stock market crashes it'll likely be too late to diversify back into bonds.
example portfolio of $45,000 in a retirement account and $55,000 in a taxable account:
45 years old
Retirement:
$45,000 - FSITX [put your bond funds in your retirement accounts bc they are tax inefficient]
Taxable:
$40,000 - FSTVX [keep your stock funds in your taxable accounts to defer taxes]
$15,000 - FSGDX