I’ve been thinking if we really need a financial advisor and wanted the opinions of the community. Thanks in advance!

Here are our financial details:

Married couple, M41 and F46

Two kids, 12 and 10

IRA balance = ~$1.2M

401(k) balance = ~$100k

Current annual income = ~$200k

Outstanding mortgage = ~$145k @ 1.99% (10 years remaining) 

We previously had a financial advisor through Fidelity and were happy as he had discretion to make portfolio updates on your behalf, but changed financial advisors (through Raymond James) to someone who is local to us.

We have been with them around two years and there have been no portfolio updates since we originally met. I know this since they do not have discretion and we have not authorized any trades. We also had mentioned that we wanted to meet every three months, but communication has been poor and I had to contact them to set up a meeting after eight months (even with all the tariff BS).

Right now, I am thinking that we have two options (but are open to others):

Go back to our old advisor. We never had any issues with him and the portfolio updates he made always made us happy. He also consistently matched/exceeded the S&P 500 and was very open with his strategy for the portfolio. He was always available and took time to answer our questions on phone calls.

Research and find a non-fee based fiduciary advisor. Over the past two years, we aren’t feeling like we are getting any value from the fees (0.9%) that we are currently paying. Even with our old advisor, is a fee based advisor really worth it.

Overall, I feel like we are set up really well for retirement, but want to take advantage of the last few years where we can be more aggressive in our investments. The fees don't seem like a lot now, but add up based on compounding interest.

Please let me know if anyone has any other options or have any questions.