Do you pay an advisor to pick winning funds? The odds are against you and them. According to the lastest SPIVA report, 80% of actively managed large cap funds underperformed their benchmark over the last five years. This analysis didn’t include your advisor’s fee, nor did it include the tax impact from the funds, both of which would make these numbers look even worse. You are better off saving the fees and investing using index exchange traded funds. That’s what we do.