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Is it worth it to pay 1-2% for top rated investment advisors on accounts over 500k ? Do these people actually earn their money by producing superior results?

Are there any quantitative evaluations of this class of advisors? One would think that teams of professionals with years of experience and networking within the financial community would do better than average- or is their performance as shaky as the Markets punditry? I would appreciate any reference to books or articles that would allow me to be more foolish with my money.
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