Originally Posted by audreyh1
Fidelity has a $75 transaction fee on Vanguard funds and some other fund families, other fund families are NTF (no transaction fee). It all depends on the agreement between Fidelity and the fund family. Transaction fees are usually required by the target fund company to protect their direct shareholders, and you can avoid them by investing directly with the fund company instead of through Fidelity's convenient "supermarket".
I own some transaction fee funds (transaction fee only apply when buying, not selling), and I usually wait until I have a large enough sum to invest to lower the impact of the transaction fee. Like say $10,000 min. If you are investing small amounts, you might want to consider transferring the assets directly to the MF company.
I have been at Fidelity for 20 years and own both Wellington and Wellesley. I paid the $75 transaction fee on my initial purchase of each. JFYI, for additional purchases, you can set up Automatic Investments to purchase additional amounts for only a $5 fee. It is a very flexible method to save on newer purchases. I have set it up for as little as two transactions,i.e, $5000 to invest, $2500 on Jan 5 and $2500 0n Feb 5. Total fee cost $10, saving $140. Then you don't have to wait for a larger amount to invest. You can even change the additional amounts after the first to whatever you need it to be, i.e., $2500 1/5 and $1000 2/5. You may want to look into it. Of course you could use equivalent ETF's for other Vanguard funds but Wellington and Wellesley don't have any.
Hope that helps