Those Questrade ads are brutal. Yes, all else equal, lower fees are better. But lower fees are (or should be) a secondary concern, not the only concern. The biggest challenge, when investing yourself, is overcoming human behavior - we all think we can, because, in normal circumstances, we (mostly) always do. But that isn't where the problem lies. The problem is that when things get difficult/confusing/scary, our emotional subconcience takes over, and NONE of us can remain rational in those circumstances.
I have been presenting on this subject for 30 years, and one of the things I always tell people is "I study this professionally, I present on this, and even when I can see it coming, I am no better at fighting it than anyone else. Why? Because we are hard-wired this way!" People think they can overcome this rationally, but that is literally the opposite of what is happening. And here's the problem: one bad decision can wipe out years of solid work.
As Slava said, studies consistently show that having an advisor is beneficial, to the tune of 2 to 3% per year. The reason isn't because they have better products (they probably do, but that would be a marginal difference) or because they know what the market is going to do (avoid anyone who thinks they do), but because a good advisor keeps themselves between you (your emotional you) and your portfolio. The biggest deterrent, with respect to long term performance, is the big mistake - market-timing out of fear or greed. That, and good financial planning, to help you make good decisions along the way, are the real value generators that an advisor provides. And of course, they should also be able to build good portfolios, but that is pretty easy.
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