What is Management fee?

A management fee is the yearly charge for holding and running an account, usually a share of what you invest rather than a flat amount, so it is the cost of simply leaving the account open. 1822direkt charges nothing (0%) and Betterment charges 0.25%. Bank of America runs 0.45% to 0.85%, while Ally Bank and Bestinvest charge nothing on the lowest tier and rise with your balance (0% to 0.4%).