I liked Beat the Street's analysis: figure out what the FA is costing you. If you think he's earning that much or more than you could do on your own then stick with him. Maybe a small tip for the comfort provided by hand-holding if that floats your boat. My guess is by that standard it would be very unlikely that the value added by working with an FA comes even close to what you're paying them. Perhaps a fee-only FA is worth considering because at least you can figure out what you're paying for his services, but the costs of a no-fee advisor are hidden so you don't really know; except that I'll bet it's way more than 1%. How do you communicate this to someone who needs to believe that an FA is a High Priest of Investment with the keys to the temple? I have friends like that I'd like to save, but I don't know how to do it.
If we have data, let’s look at data. If all we have are opinions, let’s go with mine. – Jim Barksdale