For many people, there is a significant benefit to working with a Fee-Only Advisor (your Advisor should be a "fiduciary" for you - many can't offer this level of service because they sell you product).
1) Some people need coaching (what did you do in 2008/ 2009? the market is up 130% to 180%+ from the bottom). The worst portfolio is one that doesn't let you sleep at night.
2) Some people need help to build a proper portfolio.
3) Some people don't have the time or desire to manage their money.
4) Some people need help avoiding BIG mistakes (like someone selling something "too good to be true" at a free lunch seminar).
5) Even in retirement, we need to build a portfolio for several decades.
6) Some of us need to work more on our golf game instead of watching financial news and messing with our portfolio. Active management doesn't work.
I am a huge fan of using index type funds (low cost). Your investment returns mainly depend on asset allocation (Lg. cap, small cap, growth or value, international, bond asset class and more). Many investors are missing asset classes that are very important to long term returns and diversification.
If you use an Advisor, it is a good thing to know your total fees (many are just too high for the services they provide).
Total fees are sometimes hard to find and people are surprised when they tally them up (it may be one of your largest expenses in TV. Does your Advisor have a new fancy office and is a BIG spender?). This is why I started the poll. Take a look at my post above with "additional information regarding fees". There is a good graph with different fees based on size of portfolio.
Good luck. If you have an Advisor, do some research and take the poll. Thanks!