that was my friend thought in 2007

In 2007, the firm got bought out and she got $1 million from the deal. She put money in a professional manager's hand. In 2009, whole account worth about 60w.

It never recovered to $1 mil.

She pays 1.5% to the manager. The manager bought mutual funds for her. LOL...

Then I pointed out to her that she not only pays fees to those mutual funds, but also pays her manager for nothing. She could just pay me 0.5% and I could choose better funds for her. haha...

Don't go there. $1.5 mil isn't that much of money that they care that much.