As the posts on this thread demonstrate, I am in a very small minority on this Board who use a financial advisor. (But, of course, many people in the world use financial advisors -- otherwise, the profession would have ceased to exist). So, this Board is not a representative sample -- it is very heavily weighted in the DIY direction.
I negotiated the rate scale so that I pay around 50 bps. It is a sliding scale, but that is, more or less, what it works out to.
I find that I get good value. The fee, even at 50 bps, is not cheap. But they have helped me do planning, given me the benefit of a couple of generations of perspective and insight into what has -- and has not -- worked well for comparably situated people, done projections that I find useful and that have given me confidence about my retirement plans, done a bunch of mechanical work that I don't have time for, given me tax advice that has saved me money, helped me think through asset allocation issues and withdrawal strategies, kept the portfolio reasonably well balanced, done some tax loss harvesting, and helped me avoid mistakes that could have been costly. So, I am fully satisfied and I think it has been money well spent.
I am a big fan of expertise, generally. I get medical advice from doctors (even though I am capable of doing medical research and making medical decisions on my own), i let mechanics repair by car rather than DIY, hire plumbers and electricians, painters, etc. They know how to do their trades better than I do. The same is true with my FA.
Sometimes, one reads on this Board comments about dishonest FAs who put their own interests above their clients' interests, or even steal money or whatever. And I am certain that dishonest FAs exist. I am also certain that dishonest ministers, and doctors, and accountants, and lawyers, and electricians, and undertakers exist. So it is important, if you use an FA, to get references and do appropriate diligence.
I am NOT saying that you should use an FA. It is perfectly fine to invest on your own and manage your own money. Whatever you want. Many people have done that very well. Some have done it very badly. Just like those who fix their own cars.
But I did not want you to think that EVERYONE believes that FAs are a dumb idea. Because that is not the case.