Berger Funds has eliminated its $12 annual IRA fee and lowered account minimums. The Denver firm has also added the option of education IRAs. The moves come shortly after sister firm Janus also eliminated its IRA fees (both are owned by Stilwell Financial). Berger's IRA product structure now mirrors that of Janus.

Was this a case of parental mandate or maybe sibling rivalry?

"No," said Berger spokesperson Brittney Hock. "Jack Thompson just looked at it and saw it was a great idea. Close to seventy-five percent of fund companies charge an IRA mainteinance fee, so we just looked at it separately from Janus and thought it would be a great thing for the investor."

Furthermore, despite the fact both firms breathe the thin air in mile-high Denver, Hock stressed Berger's independence. "We don't work together," she said.

"We want to make investing with Berger as easy and as convenient as we can," said Thompson in a statement. "By establishing no-fee IRAs, lowering our IRA initial investment and offering Education IRAs we've taken important steps towards our goal."

The changes were effective as of Monday, January 29, coinciding with the publication of the firm's prospectuses. The new $500 IRA minimum, dropped from $2,000, now matches Janus's minimum. Similarly, Berger's education IRAs mirror Janus's education offerings. Berger has $8 billion of assets under management in eleven equity and three money market funds. 

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