Can I own a mutual fund without a broker?

I have access to my mutual fund accounts and it appears the ability to buy and sell shares within the fund. I'm wondering why I need a broker. They aren't doing anything for me I couldn't do myself. Would it lower the fees?

It depends on the funds. Some mutual funds make you go through a broker and you have to pay a huge commission, which is usually 5%. That is a lot of money.

I have never used a stock broker or a financial advisor to purchase my mutual funds.

There are many mutual funds that you can buy without a broker and without paying any commissions. The largest I can think of is Vanguard, which is a great fund.

Do your own research and make your own decisions. Many times the brokers don't do anything that justifies the commissions they receive.

It would also lower the fees. Stock brokers want you to buy mutual funds that charge the highest fees. It is just a ripoff.

Good luck.

There are many funds you can buy directly from the mutual fund company. Some in fact, like the Bruce Fund, you can only buy through the company itself as no brokerages offer it. The problem is that you will need to hold the fund shares in some type of account for practicality sake. This is called, holding the shares in "street name". It is possible to hold them physically, like in your sock drawer or something, but you always run the risk of losing them or having them stolen, etc. I recommend that you open an account with a discount broker like Fidelity or TDAmeritrade. They charge very small commissions, particularly on no transaction fee funds, and have all the convenience and safety of a full service brokerage.

You do not need a broker. Most large mutual fund companies will allow you to buy no load funds directly thought them. Companies such as Fidelity, Vanguard, and T Rowe Price are all excellent companies that have numerous no load funds that can be purchased directly through the company

You can buy many no-load funds directly from the mutual funds house - Vanguard, T. Rowe Price, American Funds, Dodge & Cox, etc. There are thousands.