Noah Smith has a nice article in Bloomberg, on adviser fees. Quotes and the link are below:
"Now, with the industry-standard 1 percent management fee, you pay a full 25 percent of your life’s savings to your money manager. It’s much higher than before, and because since you’re earning a higher return, the fee gets sliced off of a bigger and bigger salami.
Think about that for a moment. What else would you spend so much money on? Your house, and that’s it. After your house, asset management will be the most expensive thing you ever buy."
"If your wealth manager helps you take more risk and make fewer bad choices, and if this boosts your average lifetime return by 2 percent a year, then he has more than earned his 1 percent fee."
http://www.bloombergview.com/articles/2016-04-11/those-tiny-fees-make-your-financial-adviser-rich