But the reality is different. Something simple for the DIY investor (like a Couch Potato portfolio) is very likely to outperform a 'pro', and probably actually takes less time than sitting with the 'pro' and listening to all the explanations about how they are going to do this and that (and the time spent opening the birthday card each year). How can this be?
Well, once you understand what investing really means, you realize that to consistently outperform a simple portfolio, a 'pro' would need to be able to predict the future, and they can't. And every serious study I've ever seen on this backs it up.
An auto mechanic or a carpenter don't need to predict the future, they apply their skills and experience to the job, and charge you accordingly. And those skills and experience obviously make the job go faster than a first time DIY'er - you get something for your money. But the retail FA will charge 1% or more (typically high fee/ER products), and likely under-perform the DIY investor.