One way that I have heard this discussed is that you don't need an advisor if you have the time, ability, and desire to do it yourself. I don't think it takes too much time, I think I have learned enough to understand the process, and I enjoy doing it, so I don't have an advisor. If you come up short with those three, maybe you should look into hiring someone to help you. You can learn a lot if you want to take the time, but then again, folks who really know their stuff can provide value I am sure. I personally have a problem with the AUM model, so I would look at paying by the hour or something similar. Of course, being a fiduciary is a requirement for me.