<prompt> Human: My wife and I have worked very hard over 10 years to get in the situation were in. We live off my salary and save hers. We have 9 months of expenses saved up in cash. We have 2 years of gross income saved up in retirement accounts 401k, Vanguard IRAs, Vanguard Roths, etc. We are not maxxing out contributions, however. We have no debt other than our house. Our kids 4 1.5 go to private school. They each have 529s set up.We wanted to make sure our money was working as hard as it could for us, knowing that the cash savings was earning 1year in a savings account. We found a financial adviserplanner who was recommended to us by a couple of neighbors. He works for a large, nationwide firm, similar to but not Edward Jones, etc. The first meeting was very cordial. We discussed goals and current cash flow. He briefly mentioned a few mutual funds that hes a fan of, sharing with us charts a documentation. There was no mention of fees, cost, etc. A week later, we met again and he shared with us his plan. He was very complementary of our situation, and laid out some strategies to help us do better. He wanted us to move all of our cash less a comfortable emergency fund into a mutual fund that he prefers. He recommended he take over management of our existing funds IRAs, 401k, etc. and leave them where they are until he sees a better opportunity with his preferred funds. He recommended we purchase life insurance through him.We asked about his cost, and he said he takes 5 of all invested funds up front. He takes no other fee and all were responsible for is the funds expense ratios. This is where I got uneasy. What incentive is there for him to work in our best interest if he makes all of his money up front?He quoted around 400month for my wife and I 35 years old, good health, 1,000,000 policy for a 20-year term which seemed steep.A few friends of mine who have a wealth of knowledge in advisinginvesting say run, run away. My wifes argument is he was highly recommended and must be doing something right.My questions are: Does fee only mean a flat fee up front? If he takes 5 up front and there is a 1 expense ratio, Im essentially 6 in the hole on day 1. Do we stick with him or are there better options out there? Is that quote for life insurance reasonable?  <response>: Yeah he wants to put you in fully loaded funds, take 5 of everything up front, and then charge you for exhorbitant whole life insurance, which also carries a hefty commission. This dude is a salesman, not an advisor. 