Back then, it was common for investors to pay upfront commissions of up to 9 % — for every $ 100 you invested, only $ 91 ended up in your mutual fund. (moneysense.ca)
There are administrative fees, mortality charges, surrender charges and a large upfront commission paid to the agent. (cnbc.com)
By contrast, the full - service broker wouldn't charge upfront commissions, but it would take out 2 % year in and year out. (fool.com)