Your biases are really hanging out there.

It's really my personal opinion. I've known many, many people who have used financial advisors, either insurance folks, financial planners, brokers, or whatever. In every instance, they've been sold a bill of goods that aren't in their best interests, but that are in the best interests of the person giving the advice. The folks I'm talking about who got scammed are high earners, usually with graduate degrees. They end up paying huge fees and getting low or below average returns, with high annual expenses. The stock brokers and insurance agents are the worst of the group. I particularly hate the way these so-called experts rip off the elderly by praying on their fears of going broke. Enough said. Yes, my opinion of these scammers is really hanging out there, but there's a good reason for it being that way.