After 15 years in the industry I just found the best justification for charging a commission on our trades. It's not the transaction or the advice. The best justification, the best reason that we have to offer a client for charging a commission is this: The right to sue someone if money is lost due to UNSUITABILITY in the transaction. Yes. That's it. The client can go online and buy a non-load mutual fund or etf or bond or stock. But if he does it on his own, and he looses money, he haves no one to blame. But if he pays a 5% load and he looses a substantial amount of his money, at least he haves the chance to sue us and the firm we are representing. That's it. That's the value of financial advice: the right to sue and get some money back.