Diversify Mutual Funds?

I want to diversify my mutal funds and was wondering if I should go through a stock broker or a self research site like Morningstar? I'm new to investing and am leary about Morningstar fees as well as concerned about over paying with a stock broker. Are my fears valid or am I being ridiculous.

Morningstar fees are not high when compared to brokerage fees. You can actually contract for the Morningstar service month to month over the internet. Many libraries carry the Morningstar reports where they are free for use. The other thing to consider is that a broker will not recommend no load mutual funds only funds with a load because that is how he makes his money. She also. The other factor that needs to be considered is the qualifications of the broker in giving advice. Some are good and some are not so good.

Acutually, I believe one can generally find good mutual funds without even relying on Morningstar. Yahoo finance has a mutual fund screening tool that works reasonably well as does Forbes and other sources. There are three mutual fund companies that sell no load funds with a wide variety of investment options. These are Fidelity, T Rowe Price, and Vanguard. They each have a wide selection of mutual funds that are no load and with low expense ratios. They also are each on the internet where you can research their offerings and compare their track records. There are other good no load funds from other companies also.

Here is a link to the Yahoo mutual fund screening tool. You will notice that when you use the tool it does provide the Morningstar star rating of the fund.

http://screen.yahoo.com/funds.html

returns from investing in the mutual funds are definitely very high.....however the risk involved in it can't be negated,and considering the fact that you are new to this field ,i suggest you to consult people who are more enlightened about the subject.Please don't make hasty decisions in this regard.

When you are concerned about something as important as your health - you likely go to a doctor (expert), when you are concerned about something as important as your car, you likely go to a mechanic (expert), when you are concerned about something as important as your haircut, you likely go to an expert (stylist) . .why then when it comes to something as important as your money would you think about a do it yourself approach? A Financial Advisor's whole job is to consult with people on financial matters, just like doctors, mechanics, stylists have all studied, been certified or licensed in, and work in their respective field all day, so does a Financial Adviser.

If you are new to investing, you can make your own mistakes as you go along, or work with a Financial Adviser, who has been there before and will help you along the way. I suggest you interview adviser's until you find one you like, and start there.

Do not buy mutual funds through a broker. Buy no-load funds directly from T. Rowe Price, Vanguard, etc.

A great primer book is "Mutual Funds For Dummies" and well as the more generalized "Investing For Dummies."
(There is no fee to research funds at Morningstar.com - and there are many other free sites you can also use).