Wife and I had a retirement planning session with a Wells Fargo Advisor

I am pretty much 100% in on index investing, but my wife thinks that we need to consider having somebody look after our money. I love her and want to stay married, so I agreed to a free consultation with a Wells Fargo advisor. All of our accounts are held at Wells.

Sitting there talking about our investment mix, the advisor said "you're about 85 to 90% on track with your investing, but could be more diversified...." I couldn't believe it. All of our holdings are in a (mostly) 70-30 mix of VTI and VXUS.

I couldn't believe what I was hearing and pointed out that we couldn't be much more diversified than these two funds, but he said "Yep, you can still be more diversified!"

He later went on to say that if he were to manage our money we would be in some broad market ETFs but also in individual positions in concentrated sectors. That was his version of diversification! I just kept my mouth shut and nodded at this point.

Then he wanted to talk about the Wells 1% AUM fee we would be charged to look after our money and keep it" diversified."

No thank you!