 So if you're paid a commission of 5.75% on a mutual fund, that's a straight commission on an A share, and then that's it. You never get paid again, but they manage your money for you, and that's how the old smart investor pros all ran it back in the day. But if you do that now, you're liable if they want to sue you for something. If you want to get rid of the liability, if you're one of the investment brokers, you put all the customers in a 1% and you call yourself a fiduciary.