Should I open another brokerage account? Recs for funds/ETFs?

[scp]

I already have one with Fidelity and TradeKing- the second is more for trading and the first is more for investing in mutual funds- which I haven't been too impressed with in terms of the selection with expense ratios of under .5 or even 1%.

I've heard, but haven't looked into Vanguard, which has lower expense raitos (but they seem to have a high minimum investment no?)- are there any others I should look into, or should I just keep it easy for my paper trail and just pay the extra fees by buying from Fidelity?

Also, if these are the funds I've invested so far with Fidelity, can you recommend any others:?
FSMEX
FDFAX
FSCHX
PRPFX
and maybe FSTMX /WFIVX - would it be redundant to invest in all their index funds?

I've also ordered DIA, SPY, QQQQ, MDY and a couple stocks from TradeKing- any other ETFs you'd recommend?

[atomicrc11]

Most of the initial funds you listed are sector funds, which at Fidelity tend to have higher expenses. Some are better than other sector funds, some are not. Fidelity Health care is blown away by Vanguard Health care but some others are much closer in performance. Vanguard does have lower expenses but I prefer Fidelity for their website and customer service. You'll need to make the choice of where to put your money.

As for FSTMX, the Fidelity Spartan Funds are very good funds however they do have high minimums, usually $10,000. FSTMX out performs Vanguard Total Stock Market Index by 2% over 10 years. Since they both mirror the same index, their performance should be the same. The Spartan's fund performance being higher may be due to the lower expense ratio. I would say WFIVX is overkill seeing as FSTMX mirrors the same index.

Also, don't just limit yourself to Fidelity Funds, Fidelity offers quite a few no transaction fee funds from other companies which may fit what you need better.