@Sunset We got rid of our Mutual funds 15 years ago and started with a high Dividend portfolio with our investment advisor. Over the last 7 years I have slowly transitioned to ETF investment following the "Canadian Couch Potato" strategy. Currently about a third of our investment are ETF (Canadian Index, Us Index, International Index and Canadian Bond) and the rest are a mix of blue chip stocks and a small amount Preferred Shares.
I found my ETF strategy was out performing my FA, which is why we got rid of him last year.
I would highly recommend the CCP (Canadian Couch Potato) strategy as 66% of mutual funds can not beat the market due to their fees. I have mostly Vanguard funds, iShares, BMO and Horizons ETF's are also popular. For example VFV covers the US S&P 500 holds 512 stocks and has a fee of only 0.08%. I use this for my US component. I also have VCE, VI, ZRE and VAB to round things out.
More info can be found here: Canadian Couch Potato