At least for American Funds, the expense ratios seem reasonable.  The front end load is another issue, but I have enough to invest that the front end load for me is not that much.  If I were not so good at researching things myself or if I were too busy to do it myself, then the load would be well worth the advice from an advisor.  But I know more about the issues than the advisor who gets my load so it does kind of bother me.  The expenses bundled into my expense ratio don't bother me so much since the AF ER's seem reasonable compared to other fund families.