My Grandparents recently decided to gift me $5,000 . In order to receive this gift, they wanted me to set up an account with their Financial Advisor at Merrill Lynch. I believe that they plan on using this account for inheritance purposes in the future... not sure. Anyway, I jumped thru the hoops and set up an account with the Advisor last week. I told him that I am a simple investor and would like the majority of my funds to go into an S&P500 or Total Stock Market Index Funds. He kept being pushy about Mutual Funds that he recommends, and even went as far as to say that my Grandparents said they would cover any front load funds if I were to choose them... Nice deal for him, am I right?
So my question is, is there any amazing mutual fund that I am not aware of that most Mustachians would steer away from due to fees but would if fees were covered would be tempting? I'm leaning toward sticking with my Investment Policy Statement and Going with about 80% VTSAX and 20% Bonds, but just wanted to hear what others think. I always admired American Funds Growth Fund of America (AGTHX) in my old 401K that has a 5.75% front load fee with Merrill.
One concern I have is that, yes, the fees may be covered now, but in the future if this is indeed their inheritance vehicle that a much larger chunk of money may be hit with a high front load fee down the line.