You should be buying either any brand of ETFs or Charles Schwab specific brand of mutual funds.

Schwab's SP500 fund is SWPPX.

Personally, I use total market funds, but that's besides the point.

What’s wrong with Vanguards version?

As you've discovered... Costs you $75 each time you buy it.

> Lastly, is this a fee I’m going to have to pay every time I purchase more into VFIAX?

Yes to everything.

Buy vanguard funds at vanguard. But schwab funds at Schwab

Also read your fee schedules

You can buy VOO with no commission at Schwab since ETF trades are commission-free.

You can buy Schwab or affiliate-branded mutual fund at Schwab also with no commission.

But Schwab, Fidelity, and Vanguard are competitors, so they'll charge the max commission on each other's mutual funds. The commission is charged by the brokerage, not the fund.

Well that was my first time buying into the mutual fund.

Schwab charges a transaction fee to buy Vanguard mutual funds in a Schwab account.

You can avoid this by:

• Only buying Vanguard mutual funds in a Vanguard account, or
• Only buying Schwab mutual funds in a Schwab account (SWPPX is the Schwab equivalent of VFIAX), or
• Buying commission-free ETFs in any account (VOO is the ETF equivalent of VFIAX)

You can possibly get the commission waived one time if you contact customer service.

Okay thanks

You should take another look at the transactions screens too, somewhere along the way when you were buying the fund it definitely told you there was a fee, but you must've missed it. So figure out where that information is so you can look for it next time.

Nothing if you switch to another brokerage that doesn't compete with Vanguard and charge fees to discourage you to buy them.

Schwab has tons of no-load, no-fee mutual funds that aren't Schwab, none of them are vanguard. The mutual fund screener can help find them if you're looking for a particular strategy.