Where to keep your investment money
The best place, in my opinion, to keep your taxable investment account, is with a discount broker.
Both IRA and taxable investment accounts may be opened with a discount broker. Banks, premium brokers and full-service brokers are likely to charge significantly higher commissions on security purchases and sales, known as transactions. These fees can add up to significant amounts of money. it is important to research the discount broker prior to investing with one; here is a good discount broker comparison chart.
I personally like Tradeking - they have been rated #1 discount broker by Smart Money magazine 2 years in a row, in 2006 and 2007. They have also been top-rated by Barrons. Their commissions on stock and ETF (exchange-traded fund) trades are $4.95, which is very low. They do not have an IRA custodial fee.
Zecco offers 10 free stock and ETF trades per month to users with accounts valued over $2,500, otherwise trades are $4.50. This is hard to beat for a taxable account. However, they have an annual $30 IRA custodial fee.
Scottrade offers $7 stock and ETF trades, which is not bad; it also offers over 1150 NTF (No Transaction Fee) mutual funds, meaning you can buy and sell them free.