Advising my elderly Dad's finances

My father is approaching his mid 80s, is a widower and has steady pension income with modest monthly expenditures.

He sold his house several years ago and invested the majority of the profits with a wealth management group, upwards of $900k. Despite the fees, he's not interested or confident enough to invest in stocks independently. They also manage his TFSA which I understand they have instructions to max it out annually.

Because he's fairly risk averse, he's also been buying GICs through RBC for the past several years. He did well enough when interest rates were higher and has had a few come to term already.

He just copied me on an email asking a bank advisor what rates they were offering for GICs once this current one comes to term. With interest rates being lower than they were several years ago and the returns being fairly modest, I'm wondering if he should consider:

• going on all in with the wealth management company and contributing another $300k for them to manage
• encouraging him to invest in a low risk ETF, which would require a bit of coaching

Is it redundant to have him buy into an ETF if he is already paying fees for a managed portfolio?

Thanks for reading!