An overview of the service is provided by investorjunkie: FeeX Review - An Investment Fee Reducer.
As explained in the overview, the service is still free, requires you linking them with your accounts, and examines the following fees:
- Mutual fund expense ratios, which are present even on no-load funds
- Exchange traded funds (ETF’s) expense ratios (even though they’re typically lower than what mutual funds charge)
- Advisory fees (can be between 1.0% to 1.5% of an entire account balance)
- Wrap fees
- Sales loads
- Redemption fees
- Transaction fees
- Account maintenance fees
A lot of this, of course, can be done yourself. You can research the all-important yearly expense ratios, sales loads, and advisory fees. As the article points out, paying 2% of assets per year reduces a retirement nest egg significantly.
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