OP, when I recently had a meeting with Fidelity, they told me that they could manage my investments for a fee of 1 percent, but that the fee would only be applied to the portion of my portfolio that they were actively managing. So, if I only wanted them to manage half of my portfolio, the fee would be reduced by 50 percent. If you are paying a fee of 1 percent on your entire portfolio, you may want to discuss some type of segmenting of your portfolio.
Also, the current expense ratio for the Fidelity S&P 500 index fund is 0.015 percent as compared to the average expense ratio for their actively managed stock mutual funds, which range from about 0.5 to 1 percent. So, if your stock mutual funds are actively managed funds, you are actually paying fees of up to 2 percent, the fund expense ratio plus the Fidelity advisor fee. However, if you need a financial advisor, I don't think switching mutual fund companies would help you very much. Fidelity is a good company. Good luck.
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