Couple of days ago I did a little 18 month portfolio performance comparison, mine against my business partner's which is managed by a big high faluting wealth management planner.
After you take out the 1% management fee he pays, my portfolio beat his by a couple of tenths of a point...and I'm still less than 50% invested, the rest in money market cash.
You should have seen the look on his face when I shared. lol...
And that doesn't take into consideration the income tax consequences of the odd trade here and there the wealth planner did (probably to make it appear as if he knows what he is doing). And oh yeah, the fees...added up to over $45,000...so while the advisor made $45,000 managing his money, he was basically even over the last 18 months.