The portfolio could be managed with two options: do it yourself style or managed by an advisor.
What will the two performance look like?
Based on data between 1970 and 1994, assume the DIY annual expense ratio to be 0.5%, and the advisor's fee plus fund fee to be 1.5% to 3%, the table below summarizes the performances under various fee assumptions, the results are stunning!
The above results are based on 1970 to 1994 these 25 years' results, between 1970 and 2016 there are 23 such 25-year periods, the conclusion remains the same - fee matters a lot!