Brokerage houses are continuing their “race to the bottom,” with each competing against the others to offer the lowest commissions and fund expense ratios.

It’s a race that began almost from the moment Charles Schwab launched its mutual fund marketplace in 1992, enabling investors for the first time to buy mutual funds from different fund families on a single platform. Fidelity soon followed by rolling out its own fund supermarket model, and the competition for customers was on.

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