So my wife and I came into a few bucks back in 2019. We hired an advisor to manage the funds since neither of us had any confidence for investing. The March 2020 crash came and our advisor expertly pulled us out of the market early, and we only lost 7-8% while the market crashed -38% from it's February highs. We gained 15% that year and were ecstatic with the results considering he avoided the crash and made us a return.
Well forward to this year, our returns were 1% while the market gained 26-28% (he likes to use the S&P for metrics). He keeps quoting Warren Buffet's rules. Rule 1.) Don't lose money. Rule 2.) See rule one.
He plays too much defense. We lost 5% to inflation. Don't know what to do now. Says we're positioned for an excellent 2022. Have a meeting with him on Monday to discuss. I mean it's one thing to suck it up with your own money, but a completely different story to get paid to fuch it up.
First find out what you own, whatever it is. Get the name of every individual stock, bond, fund, ETF, whatever it is. Secondly if he is fee based, he can make as many transactions as he wants and it won;t cost you anymore money.
My view is this. I do not want to be average, so I don;t invest in funds. But others may not have the time or inclination to want to do the work. Clearly your guy had some inclination at one time and did something good. But my experience is that they all are in the same things, so your returns will be similar to the quote/unquote benchmarks.