<prompt> Human: First some background. My mother passed away last year from a sudden illness. She was the breadwinner in the family, but left my father with a pretty decent life insurance plan, and now he has about 450k to last him for the rest of his life he also has pensions coming, and social security, but for the purposes of this post Im really just looking at the money he has now. He wants this money to pay a significant amount of his expenses as he heads into retirement, so hell be needing to take out money pretty much monthly to pay for bills and such.Anyways, for a little over a year now hes been letting an adviser at an unnamed major financial services firm take care of the money for him. We explained what our goals were, what his expenses would be, etc. Over the past year July 2016-Today, theyve been able to make him about 4.5, and they charge 1.3 in fees.Looking at the portfolio, a large amount of the money is in Vanguard short-term bonds, and then Vanguard total stock ETF, and then spread across a couple other iShares funds, SP dividends, etc. They seem to change around the portfolio and buysell pretty often. Anyways, I guess my question is, are we doing the right thing? I feel like everybody is doing much better in the market, but I assume they have our investments invested in a safer way, since he just wants this money to last him through retirement. Despite this, the portfolio also lost a good deal of money last year, and only recovered to 4.5 in the first half of this year. Ive been speaking to him about moving over to some sort of Vanguard fund, but I dont know what to recommend.Any advice would be helpful. Thanks.  <response>: The only thing the advisor is doing is lining his pockets with that 1.3 fee. Move the money to Vanguard ASAP! Something like the Vanguard Wellesley fund. 