You had to know that there would be haters.

Fidelity and BlackRock announced Wednesday that they were expanding their three-year old alliance such that Fidelity.com would now offer 65, instead 30, iShares ETFs commission free.

However, Fido is levying a fee of $7.95 a trade to investors who sell the ETFs within 30 days and to financial advisers who sell within 60 days.

According to the Wall Street Journal, advisors aren't happy.

They also don't like the fact that Fidelity replaced 10 of the commission-free iShares ETFs on its previous menu. Nine of the new ETFs have lower trading volumes, suggesting they are less popular with investors, the newspaper reports.

Read more about the backlash in the Wall Street Journal. 

Edited by: Tommy Fernandez


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