<prompt> Human: My parents are getting older my father is 59 12 and theyre starting to think about their retirement. The bulk of their retirement funds are in my fathers annuity. The annuity company gives him a few options which essentially boil down to take payments or take a lump sum. Last week, my parents visited a reputable retirement planner theyre a fiduciary, and their recommendation was to take the money out and roll it over into an IRA. They then went on to say that they would manage the fund and charge my parents 1 on their funds per year.I agree with the roll it over idea and hate the payment idea I can get into this if people are interested but basically its a total scam where the annuity company takes the entire principal sum and just pays you interest. However what Im wondering about is whether or not its worth it to allow this company to manage my parents stuff and pay 1 or do it myself for free. I cant imagine that theyre going to do anything more interesting that put the money in a certain amount of stocks and bonds which I could easily do with minimal effort by putting the money in a Vanguard target retirement fund.Is it worth the 1 Reddit? Is there some knowledge that they have that I dont? Would I be making a big mistake by trying to manage it myself?  <response>: Another thing to think about here is the relationship issue. If you invest their money into something and it loses a lot of money, how is thanksgiving dinner going to go? If someone else invests the money, that gives some separation. Thats not to say you should necessarily pay this advisor, as 1 is basically a managed account that isnt really shown to do any better than a passive index fund. If they are going to roll this into an IRA, I would try to educate your parents on how you would go about investing that money, and guide them through the process. I wouldnt just say, invest in X Y and Z. 