Commission

(1) The fee the majority of personal finance products pay to the person who sells them to an investor. Everything from pensions, life insurance, endowments and unit trusts are sold on a commission basis.
(2) The fee an investor pays a broker to buy or sell a fund, for dealing on their behalf, typically assessed on a per-trade basis. No commission is charged for no-load, open-end mutual funds, giving them a cost advantage over exchange-traded funds for investors who trade frequently.