Fee-only advisers are best for most clients. Professionals usually charge about 1% of investments managed each year. A fee of 1% is neither a small charge for what may be limited effort on the adviser’s part nor a small percentage of your annual growth. It can easily be a third or more of your annual returns which can translate to a loss of more than half of your nest egg at retirement or even more when elderly.

It’s very important to understand what you are getting if you decide to turn your investment management over to someone for a fee. Investments compound at the return rate which is interest plus dividends plus appreciation less investment costs and less professional fees, each as a percent of investments. You need net returns greater than inflation for true growth.