As an investor, here is your dilemma.
You use a wealth manager or similar. You’ve known them for many years and have no reason to doubt them in any way. You have £1m invested. They charge 1% each year. The stock market falls by 30%. You have lost £300,000. In the first month, after the crash, they still made over £580.
You carry all of the risks.
And if the markets fell by 50%, your money has to grow by 100% to get back to its previous level.
You must get investing right. You are the only loser.