No load, no transaction fee, no 12-b-1 fee, low AOR mutual funds.
Pick a solid fund family, and a fund consistent with you goals, objectives and time frame, BUT DO NOT UNDER ANY CIRCUMSTANCES CHASE PERFORMANCE. All performance numbers are someone else's past performance, not your future performance.
I belive Vanguard and T Rowe Price still offer Custodian accounts for a $500.00 minimum.