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‘It has been a nearly continuous plunge.’ My accounts are down 13% this year, but my financial adviser hasn’t made a single adjustment — and is still taking his 1%. Do I even need him anymore?

‘It has been a nearly continuous plunge.’ My accounts are down 13% this year, but my financial adviser hasn’t made a single adjustment — and is still taking his 1%. Do I even need him anymore?

Question: I have heard it a thousand times: “People make more money with a financial advisor, don’t lock in your losses, stay invested,” etc. So I started with a financial adviser at a national firm in March. It has been a nearly continuous plunge of my savings, with a 13% loss in my portfolio, and yet not one adjustment has happened. If you have a portfolio that’s 50% stocks and 50% bonds, and you’re only down 13%, that means you’ve done fairly well, explains Joe Favorito, certified financial planner at Landmark Wealth Management.