[nabla9]

Investing style and method must match the temperament of the investor.

Your fried may not have the temperament that is suitable for managing investment decisions, even passively Bogglehead style. He may get better return by just paying 1.5% and staying completely ignorant and intentionally avoiding any knowledge. Paying 1.5% fee for the luxury of staying ignorant is still better than putting all money into inflation protected treasury bonds. Never try to push investment advice to your friends.

Burton Malkiel (author of A Random Walk Down Wall Street) has a great story: https://youtu.be/wnCxlIQjT-s?t=3949

[NordSteve]

Paying an advisor doesn't solve the problem - how do you pick the advisor? That is actually a harder problem than implementing a three fund portfolio, and has even more emotional burden because successful advisors are good at making it emotionally difficult to quit.

[nabla9]

It should not matter. You just pick the most boring and average no-name advisor from a firm or a bank.