I never considered the use of financial advisers a must for most investors.
For three basic reasons. First and foremost, investing principles are easy for most individuals to master. Secondly, what securities to buy is simple in the age of index funds. There is no reason to attempt to buy individual securities. I have explained why in much of my past comments and books.
What is more, adviser fees eat too much out of investment earnings. I repeat this constantly. Fees can account for as much as 20% and more of annual investor earnings.
Only those investors who have estate and tax questions need legal advisers.
Most importantly, the garden variety of advisers, that is the bulk of them, are not worth the money because their expertise is run-of-the-mill.
Want a quick test? Ask them about buying bonds with the threat of inflation. When they start talking TIPS, (for inflation-protected Treasury bonds) without asking how long you intend to hold the bonds, they have flunked the first step.
Want my answer to that question? Ask me.
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