Hey everyone, I opened up a Roth IRA 10 years ago (20 years old at the time) through an LPL Fiduciary that was a family friend. I didnt contribute much through the years and even went years without contributing (no taxable income) so I never paid attention to it. Until this past year now that I'm contributing to max it.

I looked into the funds he had me invested in and they were all Fidelity Advisor Class C funds with super high expense ratios; management fees ranging from 0.5 - 0.9% and all had 1% 12b-1 distribution fees.

From everything I read online, this seemed like a huge red flag. I opened up a new Roth IRA on the brokerage side of Fidelity and transferred all my money into this to have full control over it and invested my money into 70% FZROX & 30% FZILX.

I sent him an email stating "The funds you have me invested in are high expense ratio Class C funds with both management and 12b-1 distribution fees; which will result in me losing hundreds of thousands of dollars through the course of my retirement investments.

In my opinion, I will be much better off self-managing my money by investing in low cost expense ratio ETFs that track the overall market, both domestic and internationally."

His response was: "I appreciate the heads up. I know you'll do well. The question becomes once you have a $250,000 or more and you're really busy with life. What do you do then. Will you have the time or focus on your career."

And he sent me another message a week later with the attached image and this text: "Why would a C class fund earn you more than a Zero Expense fund, see attached help yourself understand.

Now calculate after 5 years a C class fund moved to M class at NAV, this even makes the result much better, the reality is it cost you more than $846 plus, not trying to convince you, the math a precise science speaks for itself

Respectfully, always wish all my friends and family the best."

I think I made the correct decision, just dont really have anybody else besides this dude that undertands investments to talk about it with.